We study the relationship between corporate debt, corporate risk and firm-level investment, using a sample of 25,000 listed companies across 47 countries over the last two decades. We find higher leverage reduces investment but show the effect varies with risk, as measured by firm time-varying...

Ante el contagio de la crisis financiera internacional, la economia chilena experimento una intensa reduccion del precio del cobre y de los influjos de capitales. Consecuentemente, la demanda agregada y el empleo de trabajo y capital productivo se contrajeron hacia fines de 2008. En ese...