financial friction in the context of liquidity injections (credit expansion). We show that if too much liquidity is injected … liquidity in an economy, demonstrating misallocation of liquidity (credit) in the economy under excessive liquidity injections …

To analyze whether the occurrence of elections affects access to credit for firms, we perform an investigation using … firm-level data covering 44 developed and developing countries. The results show that elections impair access to credit …. Specifically, firms are more credit-constrained in election years and pre-election years as elections exacerbate political …

This paper studies whether credit ratings can alleviate the hold-up problem between small opaque firms and informed … expensive bank credit, especially from new and less informed lenders. Consequently, they rely less on the informationally … powerful lender and invest more. We conclude that credit ratings reduce the informational gap between lenders and erode the …

We use individual credit histories to study how creditor-friendly repossession rights in auto lending affect borrowers … uncollateralized and collateralized credit, including home mortgage loans. Our findings suggest that creditors' rights can have broad …

Does failure in a marriage foretell failure to repay credit? Analyzing the loan portfolio of a representative bank, we …