Ferrando, Annalisa; Mulier, Klaas - European Central Bank - 2012
-2009, we show that firms use the trade credit channel to manage growth. In countries where the trade credit channel is more … financial market imperfections, and therefore more likely to be financially constrained, rely more on the trade credit channel … the trade credit channel for growth. JEL Classification: C23, E44, G32, L25 …