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Access to long-term credit and productivity of small and medium firms: A causal evidence
- Cavalcanti, Tiago, Vaz, Paulo Henrique
- Economics letters 2017 v.150 pp. 21-25
- credit, loans, Brazil
- This letter assesses the impact of a variation in access to a targeted loan program from Brazil’s development bank on investment and productivity. Results suggest that eligible firms increased their relative investment rate and productivity, but results are robust only for permanent rather than temporary improvements in access to credit.