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The paper presents a model in which credit-constrained firms might delay the adoption of new and more productive technologies because of the very high external financing costs they face. Our point of departure is that the efficiency of the banking system can have a profound impact on real...
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migration and a sharp growth in the remittances-to-gross domestic product (GDP) ratio; in 2011/12 it was about 23%. The … conventional IG explanation highlights the contribution of remittances to household income and poverty reduction. However …, households are spending remittances largely on consumer activities; therefore, this situation is labeled as "short-term" IG …
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