A general equilibrium model featuring multiple realistic sources of financial frictions is developed to study how different constraints interact in equilibrium. We highlight, distinguish, and evaluate their differential impacts and rich interactions. The economic impact of financial inclusion...

This report is the tenth, and final, in a series of annual monitoring reports supported by the Friends Provident Foundation and Barrow Cadbury Trust to monitor progress towards, or indeed, away from, financial inclusion in Britain. To aid comparisons and provide a comprehensive picture, it uses...

Authorized by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the U.S. Small Business Administration (SBA) has issued $900 billion in loans through the Paycheck Protection Program (PPP). Empirical studies show that small businesses with black owners faced more discrimination...

Among all the OECD countries, Turkey had the second highest average annual GDP growth (measured in constant local currency) and the fifth highest average annual growth of purchasing power parity (PPP)-adjusted per capita income between 2004 and 2012. We study the sources of this high growth era,...

This paper uses a harmonized dataset of annual nightlight to predict district-level GDP for the 64 districts of Bangladesh over the period 1992-2020. The premise of the paper originates from the work of Henderson et al. (2012), who assert that a simple constant elasticity relationship...