G24

Daria Finocchiaro · Philippe Weil

Research Question. Finocchiaro and Weil ask whether financial development necessarily promotes long-run economic growth, or whether congestion externalities in R&D markets can offset — and even …

Chenyu Shan · Dragon Yongjun Tang · Wenya Wang

Third-party loan guarantees—in which a fee-charging guarantor formally guarantees a bank loan and conducts its own due diligence on the borrower—are present in approximately 10% of Chinese bank loans …