This paper analyses empirically the effect of judicial efficiency on bank credit contractual terms for the universe of … conditions applied to firms located in municipalities on different sides of jurisdiction borders, controlling for bank …

dependence in the bank cost efficiency rankings constructed with the revaluations being kept or dropped. We relate this … show that the revaluations are positively associated with (corporate) bank lending. We then find that keeping the … revaluations when estimating bank cost efficiency leads to a misleading conclusion that the credit market is inefficient; we show …