Holdings: Credit Chains and Sectoral Comovement : Does the Use of Trade Credit Amplify Sectoral Shocks?

Credit Chains and Sectoral Comovement : Does the Use of Trade Credit Amplify Sectoral Shocks?

This paper provides evidence of the presence and relevance of a credit-chain amplification mechanism by looking at its implications for the correlation of industries. In particular, it tests the hypothesis that an increase in the use of trade-credi...

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Bibliographic Details
Main Author:	Raddatz, Claudio
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS TO FINANCING ACCESS TO FORMAL FINANCE ACCESS TO FUNDS ACCOUNTING ACCOUNTS PAYABLE ACCOUNTS PAYABLES ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES ADVERSE EFFECT AFFILIATED ORGANIZATIONS AMOUNT OF CREDIT BALANCE SHEET BALANCE SHEETS BANK CREDIT BANK DEBT BANK FINANCING BANKRUPTCY BANKS BENCHMARK BIASES BORROWING BUDGET CONSTRAINT BUSINESS CYCLE BUSINESS CYCLES CAPITAL FORMATION CD CENTRAL BANK CHECKS COMMODITY CONTRIBUTION CREDIT CRUNCH CREDIT MARKETS CREDIT MECHANISM CREDITORS DEBT DEBTS DEFAULTS DEPENDENT DERIVATIVE DIRECT COST DIVERSIFICATION DOWN PAYMENTS ECONOMIC ANALYSIS ECONOMIES OF SCALE ENDOWMENTS ENTREPRENEUR ENTREPRENEURS EQUALITY EXCLUSION EXPORTS EXTERNAL FINANCING FILING FOR BANKRUPTCY FINANCIAL ANALYSIS FINANCIAL DEVELOPMENT FINANCIAL DIFFICULTIES FINANCIAL DISTRESS FINANCIAL HEALTH FINANCIAL INTERMEDIARIES FINANCIAL INTERMEDIARY FINANCIAL SYSTEM FINANCIAL SYSTEMS FORMAL BANK FORMAL CREDIT FUTURE RESEARCH GDP GDP PER CAPITA GINI COEFFICIENT GROWTH RATE INCOME INDIVIDUAL ENTREPRENEURS INFLATION INFLATION RATES INTEREST RATE INTERNATIONAL BANK LATE PAYMENT LIMITED LIABILITY LIQUIDITY LIQUIDITY PROBLEMS LOW INCOME MACROECONOMICS MONETARY POLICY NOMINAL VALUE PRICE INDEX PRIVATE CREDIT PROBABILITY PRODUCTIVITIES PRODUCTIVITY PURCHASES REAL GDP RISK NEUTRAL SALARIES SALES SHORT TERM DEBT SHORT-TERM DEBT SHORT-TERM FINANCING STATEMENT SUB-SAHARAN AFRICA SUPPLY OF CREDIT TOTAL COST TOTAL REVENUE TRADE CREDIT TRADE CREDITORS VALUABLE VALUE ADDED WAGES WEALTH WESTERN EUROPE
Online Access:	http://documents.worldbank.org/curated/en/2008/02/9025045/credit-chains-sectoral-comovemen-t-use-trade-credit-amplify-sectoral-shocks http://hdl.handle.net/10986/6414

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http://documents.worldbank.org/curated/en/2008/02/9025045/credit-chains-sectoral-comovemen-t-use-trade-credit-amplify-sectoral-shocks
http://hdl.handle.net/10986/6414

Credit Chains and Sectoral Comovement : Does the Use of Trade Credit Amplify Sectoral Shocks?

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