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businesses who already have access to bank credit. Firms use FinTech to obtain long-term unsecured loans and reduce their … increase leverage and substitute long-term bank debt with FinTech debt. Our findings suggest that FinTech allows firms to … preserve financial exibility, reduce their bank dependence and exposure to banking shocks. …
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This chapter reviews and synthesizes theoretical and empirical research on the role of finance in developing countries. First, the paper presents the stylized facts about firms in developing nations as well as the legal, financial, and broader institutional framework in which these firms...
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