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2014-09 Sources of credit and the extent of the credit market

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posted on 2023-08-04, 06:11 authored by Mary HansenMary Hansen

This paper exploits newly-collected, highly-detailed data on sources of credit drawn from documents filed by a sample of petitioners for bankruptcy in Mississippi in the 1930s. The bankruptcy documents reveal that long-distance credit networks were extensive during this period. Credit networks were dominated by trade credit, particularly book credit that was extended from business to business. At this time, the bank-to-business lending channels that are common today were only beginning to develop. Manufacturers had both fewer long-distance creditors and fewer financial intermediaries as creditors than either merchants or farmers. New sources of consumer credit, though, were available even in the relatively under-developed Deep South.

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American University

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Working Papers 2014-09

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http://hdl.handle.net/1961/auislandora:70543

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