|Countries<br>with at least<br>100 loans<br>(7)<br>3.8881***<br>(1.138)<br>3.8701<br>(2.595)<br>0.0121<br>(0.384)<br>0.1736***<br>(0.045)<br>7.770*<br>0.0563<br>7.770*<br>6,606<br>0.483<br>Yes<br>Yes<br>Yes<br>No<br>44.800<br>0.680<br>or_cs_at time_t_, excluding<br>r_cs_at time_t_. In columns<br>d 7 the sample is limited<br>ed by MDBs in country-<br>ered at country level are|
|---|
|Countries<br>with at least<br>50 loans<br>(6)<br>3.5868***<br>(1.157)<br>3.4742<br>(2.507)<br>-0.0370<br>(0.283)<br>0.1949***<br>(0.048)<br>7.024*<br>0.0697<br>7.024*<br>8,469<br>0.471<br>Yes<br>Yes<br>Yes<br>No<br>24.300<br>0.3860<br>(USD) in country-sect<br>MDBs in country-secto<br>te. In columns 5, 6 an<br>SD) per capita provid<br>. Standard errors clust|
|**apita)**<br>Countries<br>with at least<br>25 loans<br>(5)<br>2.4487*<br>(1.400)<br>2.9621<br>(2.336)<br>0.3248<br>(0.592)<br>0.0695***<br>(0.005)<br>5.736<br>0.176<br>5.736<br>13,230<br>0.346<br>Yes<br>Yes<br>Yes<br>No<br>30.700<br>0.3610<br>of syndicated loans<br>(USD) provided by<br>hich MDBs participa<br>syndicated loans (U<br>000,000 individuals)|
|**Size ($ per c**<br>Full Sample<br>(4)<br>1.8918<br>(1.224)<br>2.3253<br>(1.963)<br>0.2704<br>(0.405)<br>0.0818***<br>(0.019)<br>4.487<br>0.203<br>4.487<br>24,147<br>0.339<br>Yes<br>Yes<br>Yes<br>No<br>18.000<br>0.2450<br>rithm of the total size<br>e of syndicated loans<br>the size of loans in w<br>est is the total size of<br>size is meaured per 1,|
|(3)<br>0.0824***<br>(0.018)<br>0.0451**<br>(0.021)<br>0.0414<br>(0.025)<br>0.0515***<br>(0.018)<br>0.169***<br>0.000<br>7.071***<br>24,219<br>0.747<br>Yes<br>Yes<br>Yes<br>Quadratic<br>0.859<br>0.175<br>158.5<br>3.788<br>le is the natural loga<br>rithm of the total siz<br>_s_at time_t_, excluding<br>ain variable of inter<br>iables (average loan|
|**nt)**<br>(2)<br>0.0862***<br>(0.018)<br>0.0484**<br>(0.021)<br>0.0443*<br>(0.025)<br>0.0472**<br>(0.018)<br>0.179***<br>0.000<br>7.490***<br>24,219<br>0.748<br>Yes<br>Yes<br>Yes<br>Yes<br>0.859<br>0.175<br>158.5<br>3.788<br>the dependent variab<br>erest is the natural loga<br>ita in country-sector_c_<br>d, respectively. The m<br>Bcs,t and outcome var|
|**Size (ln $ le**<br>(1)<br>0.0873***<br>(0.020)<br>0.0415**<br>(0.020)<br>0.0353<br>(0.025)<br>0.1860***<br>(0.022)<br>0.164***<br>0.000<br>6.862***<br>24,219<br>0.714<br>Yes<br>Yes<br>Yes<br>No<br>0.859<br>0.175<br>158.5<br>3.788<br>n 1. In columns 1-3,<br>main variable of int<br>loans (USD) per cap<br>ver the sample perio<br>e averages of the MD|
|MDB sizecs,t<br>MDB sizecs,t-1<br>MDB sizecs,t-2<br>Sizecs,t-1<br>2<br>∑<br>_k_=0<br>_MDB_cs,t-k<br>_Wald test_ : _p value_<br>Marginal Effect<br>Observations<br>R-squared<br>Sector-country FE<br>Country-year FE<br>Sector-year FE<br>Country-sector Trends<br>Average Size (ln $/per capita)<br>Average MDB size (ln $/per capita)<br>Average Size ($ lent)<br>Average MDB size ($ lent)<br>_Notes_: The table presents the estimates of equatio<br>the size of loans in which MDBs participate. The<br>4-7, the dependent is the total size of syndicated<br>to countries with at least 25, 50, and 100 loans o<br>sector_cs_at time_t_. The last rows show the sampl<br>in parentheses: * p_<_0.1, ** p_<_0.05, *** p_<_0.01.|

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