Using unique micro-data that contain the internal information on all corporate customers of a large Nordic bank, I show that combining loan and non-loan products (cross-selling) has two benefits. First, it increases credit supply, especially in recessions. Second, it increases the likelihood of...

This paper uses the case of Italy to investigate the effects of local financial and socio-institutional development on productivity. The analysis employs firm-level productivity data and exploits variations in banking sector development, judicial enforcement, and social capital across Italian...

Economic, social and cultural right (“social right”) have historically been viewed as distinct in natyre and scope from civil and political right. Rather than being viewed as judicially enforceable rights of immeadiate application, such rights have widely been considered non-justiciable...

This paper analyzes the relation between the quality of the legal enforcement of loan contracts and the allocation of credit to households, both theoretically and empirically. We use a model of household credit market with secured debt contracts, where the judicial system affects the cost...

Credit from suppliers is an important source of finance for firms. It can sustain firms' financial flexibility even in periods of downturn. In this study, using a large database of 90,763 Italian firms in the 2015-2021 period, we investigated how local financial development affects the trade...

This paper investigates the interaction between legal institutions and financial arrangements and the effects that these have on corporate decisions and aggregate activity, both theoretically and empirically. In the theoretical part, we develop a two country general equilibrium model with...