Credit Shock Propagation (Cortes et al.)

Credit shock propagation in firm networks: evidence from government bank credit expansions by Gustavo S. Cortes, Thiago Christiano Silva and Bernardus F. N. Van Doornik published by Banco Central do Brasil (9/2019). “…We find that a firm with direct and indirect access to government credit (through its customers or suppliers) observed a 12.5% greater survival probability, vis-à-vis 4% when the firm has only direct access.”

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