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that the IMF hasboth de jure and de facto seniority rights over private creditors. It is shown thatIMF lending affects … reduce the level of borrowing and borrowers' welfare ex-ante,because seniority allows the IMF to lend in cases where it is …
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How do improvements in information impact market performance? This dissertation examines the effect of an innovative initiative launched by a private company in the central Indian state of Madhya Pradesh. Beginning in October 2000, it set up 1700 internet kiosks and 45 warehouses that provide...
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