Trade Credit and the Effect of Macro-Financial Shocks

Released on by Mr.Yungsan Kim
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  • Trade Credit and the Effect of Macro-Financial Shocks Book Detail

  • Author : Mr.Yungsan Kim
  • Release Date : 2003-06-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 36
  • ISBN 13 : 1451855001
  • File Size : 47,47 MB
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Trade Credit and the Effect of Macro-Financial Shocks by Mr.Yungsan Kim PDF Summary

Book Description: Many studies examine why firms are financed by their suppliers, but few empirical studies look at the macroeconomic implications of such financial arrangements. Using disaggregated panel data, we examine how firms extend and use trade credit. We find that, controlling for the transactions or asset management motive, both accounts payable and receivable increase with tighter policy, implying that trade credit helps firms absorb the effect of a credit contraction. A comparison of S&P 500 firms with smaller firms, however, provides no evidence that when policy is tightened, large firms play the role of credit suppliers more actively than small firms.

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Trade Credit and Bank Credit

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"The authors study the effect of financial crises on trade credit in a sample of 890 firms in six emerging economies. They find that although provision of trade

The Macroeconomics of Trade Credit

The Macroeconomics of Trade Credit

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In most countries, suppliers of intermediate goods and services are also the main providers of short-term financing to firms. This paper studies the macroeconom