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| Author: | Nilsen, J.H. |
| Title: | Trade credit and the bank lending channel |
| Journal: | Journal of Money, Credit and Banking
2002 : FEB, VOL. 34:1, p. 226-253 |
| Index terms: | BANK LENDING COMPANIES BY SIZE CREDIT INTEREST RATES |
| Language: | eng |
| Abstract: | The bank lending channel theory posits that during monetary contractions banks restrict some firms' loans, thus reducing their desired investment independently of interest rates. Previous research finds small firms reduce, while large firms accelerate, loan growth. The authors find that small firms increase trade credit, a substitute credit, indicating a strong loan demand. |
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