Results 11 to 20 of about 17,062 (306)
Access to Credit as a Growth Constraint
Journal of Banking and Financial Economics, 2014 From a sample of 75,854 Slovenian fi rms in the period 1995–2011, we examine the effects of a fi rm’s access to bank credit on its growth. The results suggest that as the external fi nancing constraint relaxes and fi rm gets access to credit, the ...
Matjaž Volk, Polona Trefalt
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Job Loss, Credit Constraints, and Consumption Growth [PDF]
Review of Economics and Statistics, 2014 We use direct evidence on credit constraints to study their importance for household consumption growth and for welfare. We distentangle the direct effect on consumption growth of a currently binding credit constraint from the indirect effect of a potentially binding credit constraint which generates consumption risk. Our data is focused on job losers.
Thomas F. Crossley, Hamish Low
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Trade credit, collateral liquidation, and borrowing constraints [PDF]
Journal of Financial Economics, 2010 Assuming that firms’ suppliers are better able to extract value from the liquidation of assets in default and have an information advantage over other creditors, the paper derives six predictions on the use of trade credit. (1) Financially unconstrained firms (with unused bank credit lines) take trade credit to exploit the supplier's liquidation ...
Daniela Fabbri +1 more
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Credit Constraints in Education [PDF]
Annual Review of Economics, 2011 We review studies of the impact of credit constraints on the accumulation of human capital. Evidence suggests that credit constraints have recently become important for schooling and other aspects of households' behavior. We highlight the importance of early childhood investments, as their response largely determines the impact of credit constraints on
Lance Lochner, Alexander Monge-Naranjo
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Credit Constraints and the Persistence of Unemployment [PDF]
SSRN Electronic Journal, 2009 In this paper, we argue that credit market imperfections impact not only the level of unemployment, but also its persistence. For this purpose, we first develop a theoretical model based on the equilibrium matching framework of Mortensen and Pissarides (1999) and Pissarides (2000) where we introduce credit constraints.
Dromel, Nicolas +2 more
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Credit Constraints and Productive Entrepreneurship in Africa [PDF]
SSRN Electronic Journal, 2011 Limited access of entrepreneurs to credit constrains the creation and growth of private firms. In Africa, access to credit is particularly limited for small and medium enterprises (SMEs) due to unclear property rights and the lack of assets that can be used as collateral.
Mina Baliamoune-Lutz +2 more
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Credit Constraints and Growth in a Global Economy [PDF]
American Economic Review, 2015 We show that in an open-economy OLG model, the interaction between growth differentials and household credit constraints—more severe in fast-growing countries—can explain three prominent global trends: a divergence in private saving rates between advanced and emerging economies, large net capital outflows from the latter, and a sustained decline in ...
Coeurdacier, Nicolas +2 more
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Exporters, importers and credit constraints [PDF]
Journal of International Economics, 2015 AbstractThis paper analyzes the interaction between credit constraints and trading behavior, decomposing trade in extensive and intensive margins. I construct a unique dataset containing firm-level trade transaction data, balance sheets and credit scores from an independent credit insurance company for Belgian manufacturing firms between 1999 and 2007.
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Innovation and trade in the presence of credit constraints [PDF]
Canadian Journal of Economics/Revue canadienne d'économique, 2021 AbstractThis paper examines how trade liberalization affects investment in R&D at the firm level. We provide a model with entrepreneurs that differ in their wealth endowments, causing them to rely on external funds to different extents. In the presence of capital market imperfections, this implies heterogeneous access to external financing such ...
Föllmi, Reto +2 more
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Bubbles and Credit Constraints [PDF]
SSRN Electronic Journal, 2011 We provide an infinite-horizon model of a production economy with bubbles, in which firms meet stochastic investment opportunities and face credit constraints. Capital is not only an input for production, but also serves as collateral. We show that bubbles on this reproducible asset may arise, which relax collateral constraints and improve investment ...
Pengfei Wang, Jianjun Miao
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