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Title Informality and Bank Credit : Evidence from Firm-Level Data / prepared by Era Dabla-Norris and Junko Koeda
Published Washington, D.C. : International Monetary Fund, 2008
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Description 1 online resource (37 pages)
Series IMF working paper ; WP/08/94
IMF working paper ; WP/08/94
Contents I. Introduction; II. Analytical Framework; III. Empirical Strategy and Results; A. Empirical Model; B. Data and Summary Statistics; C. Empirical Results; D. Robustness Tests; IV. Conclusions; Tables; 1. Summary Statistics; 2. Correlation Matrix; 3. Baseline Regression; 4. Access to Credit and Informality: Impact of Business Environment; 5. Informality, Access to Credit, and Business Environment: Interaction Effects; 6. Access to Credit and Informality: Impact of Institutional Development; 7. Informality, Access to Credit, and Business Environment: Interaction Effects
8. Extended Regressions: Firm Transparency and Performance9. Interaction Regressions: Informality, Firm Transparency, and Firm Performance; 10. Instrumental Variables Regression; Appendices; I. Solving the Model; II. Countries in the Sample; III. Variables and Sources; References
Summary The paper relies on a firm-level data on transition economies to examine the relationship between informality and bank credit. We find evidence that informality is robustly and significantly associated with lower access to and use of bank credit. We also find that higher tax compliance costs reduce firms' reliance on bank credit, while a stronger quality of the legal environment is associated with higher access to credit even for financially opaque informal firms. An interactive term between a country-wide measure of tax compliance costs and the level of informal activity is negative and significant, suggesting that the negative association between informality and bank credit is stronger in countries with weak tax administration
Notes Available in PDF, ePUB, and Mobi formats on the Internet
Bibliography Includes bibliographical references
Subject Bank loans -- Econometric models.
Business enterprises -- Finance -- Econometric models.
Informal sector (Economics) -- Econometric models.
Form Electronic book
Author Dabla-Norris, Era, author
Koeda, Junko, 1976- author
International Monetary Fund.
ISBN 1451914091