This paper analyses empirically the effect of judicial efficiency on bank credit contractual terms for the universe of … characteristics. The results show that judicial efficiency is associated with a reduction in the cost of credit as well as with an … increase in its availability for firms, in particular for those at high risk of default. Judicial efficiency increases leverage …

the economic efficiency and equity of credit markets. Arising from concern for borrowers disadvantaged by such … examined whether this gain in social equity comes at a cost in efficiency borne by all market participants. The reliance on … selection or moral hazard, this framework allows potential efficiency costs to beexamined in a market environment without an ex …

We study the differential impact of exchange rate volatility on cost efficiency and market structure when banks have … cost efficiency estimates are both severely downward biased---by 30 percentage points on average---and generally not rank … dependence in the bank cost efficiency rankings constructed with the revaluations being kept or dropped. We relate this …