We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby … volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and … a long-term productivity-enhancing one. Because it takes longer to complete, long-term investment has a relatively less …

up by the British to collect land revenue in India, and show that differences in historical property rights institutions …

up by the British to collect land revenue in India, and show that differences in historical property rights institutions …

We analyze the colonial land revenue institutions set up by the British in India, and show that differences in …

-based lending product in a new market. In 2005, half of 104 slums in Hyderabad, India were randomly selected for opening of a branch …