This paper analyzes firms' difficulties in accessing credit before and during the crisis, by focusing on two of their characteristics: financial fragility and growth prospects. Our econometric analysis indicates that fragile financial conditions were associated with a much higher than average...

With this paper we seek to contribute to the literature on the relation between finance and growth. We argue that most studies in the field fail to measure the quality of financial intermediation but rather resort to using proxies on the size of financial systems. Moreover, cross-country...

The present study analyses the relationship between financial development and growth for a sample of 28 less developed countries covering 1997-2019. In view of the cross-country correlation and country heterogeneity in the data, it uses CS-ARDL approach to fit Mean Group and Pooled Mean Group...