Exploiting geographic variation in the exposure of U.S. banks to COVID-19 and lockdown policies we find that banks more exposed to pandemic and lockdown policies show an increase in loss provisions and non-performing loans. While we observe an increase in corporate, especially small business,...

This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the globe. This frontier takes into account structural country characteristics, institutional, and...

This paper provides an analysis of financial development and inclusion in developing Asia using data from a wide array of sources. We show that in terms of aggregate measures of financial development, the region as a whole has superior banking sector depth compared to other developing regions;...

This paper provides an analysis of financial development and inclusion in developing Asia using data from a wide array of sources. We show that in terms of aggregate measures of financial development, the region as a whole has superior banking sector depth compared to other developing regions;...

Can distance-related information asymmetries in credit markets be overcome with contract design and credit scoring models? To answer this question, we explore differences in foreign and domestic banks' credit contract terms and pricing models. Using a sample of firms that borrow from both...