We investigate the economic impacts of one of the world's largest anti-corruption crackdowns, Brazil's Operação Lava Jato (Car Wash). Using a difference-in-differences analysis of unique, matched firm-bank data, we find sizable declines in employment and wage bills for investigated firms,...

We investigate the long-run effects of higher standards of corporate governance in the stock market. We consider Brazilian firms that switched from the traditional segment to the Nível 1, Nível 2 or Novo Mercado since 2000. We document that higher standards of governance result in...

We investigate the long-run effects of higher standards of corporate governance in the stock market. We consider Brazilian firms that switched from the traditional segment to the Nível 1, Nível 2 or Novo Mercado since 2000. We document that higher standards of governance result in...

The COVID-19 pandemic caused a global health and economic crisis to which governments responded with massive policy interventions. Using Brazil as a testing ground, we investigate the influence of the pandemic and ensuing policy interventions on local credit. First, we find that the pandemic has...