-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 …

–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, rely more on the trade credit channel to manage growth. Finally, we show that also the overall … conditions of the financial market matter for the importance of the trade credit channel for growth …

We investigate the role of the judicial system on whether or not the firms obtain the credit they applied for, by … property rights protection), the lower the probability that the firms are credit constrained. Our results are robust to … that these variables have considerable economic impact: the probability to obtain credit is up to 40% higher in countries …