The purpose of this paper is to assess whether the banking system, over and beyond its credit function, has a …, our regressions confidently support the hypothesis that banks contribute to economic development not only as credit … suppliers but also by facilitating transactions. Specifically, along with the ratio of private credit to GDP, the ratio of …

the network. The simulation results suggest that the potential for contagion due to credit losses on interbank exposures …

imports during this period. We show that adverse credit conditions were an important channel through which the crisis affected … trade volumes. We identify the impact of credit tightening by exploiting the variation in the cost of capital across … and thus tighter credit markets exported less to the US during the peak of the crisis. These effects were especially …

imports. We show that credit conditions were an important channel through which the crisis affected trade volumes, by … vulnerability across sectors. Countries with higher interbank rates and thus tighter credit markets exported less to the US during … limited access to trade credit, or have few collateralizable assets. Exports of financially vulnerable industries were thus …

in credit for family firms was smaller than that for non-family firms. Results are robust to ex-ante observable … amount of credit granted to family and non-family firms is related to an increased role for soft information in Italian banks …