Although Bosnia and Herzegovina (BiH) has experienced rapid growth in credit to households in recent years, most … individuals are still credit constrained. This paper analyzes the determinants of household credit demand and credit constraints … credit market participation, while high income and high wealth lower credit constraints. In BiH, the probability of credit …

'buffer stock' model of optimal consumption in the presence of labor income uncertainty and credit constraints. Saving in the … model is affected by the gap between 'target' and actual wealth, with the target wealth determined by credit conditions and … uncertainty. An estimated structural version of the model suggests that increased credit availability accounts for …

credit. We find evidence that informality is robustly and significantly associated with lower access to and use of bank … credit. We also find that higher tax compliance costs reduce firms' reliance on bank credit, while a stronger quality of the … legal environment is associated with higher access to credit even for financially opaque informal firms. An interactive term …