This study utilizes cross-country data from 2002 to 2019 from 60 selected developing
countries to explore the impact of competition and financial inclusion on financial stability …

We develop a new theory of information production during credit booms. Entrepreneurs
need credit to undertake investment projects, some of which enable them to divert …

Firms with only one bank relationship make up the majority of firms in many economies. This
paper explores whether policy-driven lending is differentially transmitted to single-bank firms …

Following up on claims that high and rising levels of financial inclusion might contribute to
financial stability, we test whether level and progress in financial inclusion has an effect on …

The aim of the paper is to assess the evolution of the cost of credit risk (CoR) of Polish banks
as a result of the COVID-19 pandemic in the first three quarters of 2020 as well as its …

The COVID-19 pandemic deteriorated the economic situation and raised the issue of the
quality of banks' assets and, in particular, the growth of non-performing loans (NPLs). The …

I document that floating-rate loans from banks, particularly important for bank-dependent
firms, drive most variation in firms' exposure to interest rates. I argue that banks prefer to …

The information banks have about borrowers drives their lending decisions and
macroeconomic outcomes, but this information is inherently difficult to analyze because it is …

We find firm cyclicality decreases by 40% after the inception of credit default swap (CDS)
trading. The effect stems from CDS firms' less aggressive asset growth in good times and is …

The quality of bank lending is increasingly viewed as a force driving the buildup and
unfolding of crises. In a dynamic general equilibrium model, we show that banks' access to …