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Explaining why political events occur at different speeds is usually done by invoking tipping points or shocks. We argue that the latter, although a starting point, is inadequate and has to be supplemented, at least for activities involving multiple bureaucracies, by the policy instruments...
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This paper analyses how entry by an international bank into a developing economy aÞects the credit market equilibrium. It opers a novel explanation of how a foreign entrant overcomes asymmetric information problems, and complements extant hard vs. soft information based theories of credit...
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