Methodological Review
Strengths
- The project no longer depends on undocumented local files.
- All headline empirical outputs are derived from official public data.
- Missing legacy data are documented rather than fabricated.
- The final analysis maps each statistical exercise to a research question.
Methodological Risks
- WDI indicators are annual macro-financial measures, not product-level credit data.
- Fixed effects address time-invariant country heterogeneity but not time-varying policy reforms.
- Composite indices depend on normative weights; sensitivity tables are therefore reported.
- PCA and clustering are descriptive typologies, not structural models.
Implemented Improvements
- Distribution and outlier diagnostics.
- Correlation matrix.
- PCA and k-means profiles.
- Composite index with sensitivity analysis.
- Country FE, two-way FE, lagged model and robust uncertainty diagnostics.
- Bolivia-specific benchmark.
Future Research Frontier
The next frontier is to rebuild regulator-level monthly panels country by country and link credit composition to industrial transformation, employment and productivity.