Methylammonium lead bromide perovskite (MAPbBr3) has been widely investigated for applications in visible perovskite light-emitting diodes (LEDs). Fine-tuning of the morphology and of the crystal size, from the microscale down to the quantum confinement regime, has been used to increase the photoluminescence quantum yield (PLQY). However, the physical processes underlying the PL emission of this perovskite remain unclear. Here, we elucidate the origin of the PL emission of polycrystalline MAPbBr3 thin films by different spectroscopic techniques. We estimate the exciton binding energy, the reduced exciton effective mass, and the trap density. Moreover, we confirm the coexistence of free carriers and excitons, quantifying their relative population and mutual interaction over a broad range of excitation densities. Finally, the enhanced PLQY upon crystal size reduction to the micro- and nanometer scale in the presence of additives is attributed to favored excitonic recombination together with reduced surface trapping thanks to efficient passivation by the additives.