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Journal articles on the topic 'Credit policy'

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Published: 4 June 2021

Last updated: 31 May 2022

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1

Steuerle, C. Eugene. "Policy Watch: Tax Credits for Low-Income Workers with Children." Journal of Economic Perspectives 4, no. 3 (August 1, 1990): 201–12. http://dx.doi.org/10.1257/jep.4.3.201.

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The most important tax credits available to low-income households with children are the earned income tax credit (EITC), the child tax credit, and the child and dependent care tax credit (hereafter, child-care credit). Only the EITC and the child-care credit exist in current law in the United States. This note will discuss some equity and efficiency implications of four commonly stated purposes of these credits within the tax/transfer system: greater progressivity, adjustments for the presence of children, greater choice among goods and services, and greater work incentives for low-income individuals.

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2

Huang, Yung Fu. "RETAILER'S INVENTORY POLICY UNDER SUPPLIER'S PARTIAL TRADE CREDIT POLICY." Journal of the Operations Research Society of Japan 48, no. 3 (2005): 173–82. http://dx.doi.org/10.15807/jorsj.48.173.

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3

Lucas, Deborah. "Credit Policy as Fiscal Policy." Brookings Papers on Economic Activity 2016, no. 1 (2016): 1–57. http://dx.doi.org/10.1353/eca.2016.0012.

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4

Andjelic, Slavica. "Enterprise credit policy." Trendovi u poslovanju 3, no. 2 (2015): 47–51. http://dx.doi.org/10.5937/trendpos1502047a.

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5

Ивченко, Юлия, and Yuliya Ivchenko. "Company credit policy as a factor in its effective and long-term development." Russian Journal of Management 2, no. 3 (July 1, 2014): 123–36. http://dx.doi.org/10.12737/10590.

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The scientific and practical publications and regulatory sources for essence credit policy of the firm are analyzed. Based on the analysis it was concluded that there is no unified approach to the content of the term «company credit policy». The credit policy of the firm as a set of principles and methods for management of accounts receivable and the provision of trade credit to buyers; management of payables and bank credits as the main sources of borrowed working capital; management of free cash in the form of giving commercial loans to other companies and opening bank deposits examined.

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6

Hodara, Michelle, Mary Martinez-Wenzl, David Stevens, and Christopher Mazzeo. "Exploring Credit Mobility and Major-Specific Pathways: A Policy Analysis and Student Perspective on Community College to University Transfer." Community College Review 45, no. 4 (August 11, 2017): 331–49. http://dx.doi.org/10.1177/0091552117724197.

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Objective: Problems with credit mobility, or the transfer of credits from a sending to a receiving institution, may be one reason why community college transfer students have low rates of bachelor’s degree completion. This study investigates different policy approaches to credit mobility and how college staff and students experience transfer at the campus level. Method: The study utilizes data from policy documents and legislative statutes, phone interviews with higher education system officials, and college staff across 10 states, and interview data with students and staff collected during site visits to 2- and 4-year colleges in Tennessee, Texas, and Washington. Results: We categorized credit mobility policies across a continuum, from system-wide transfer initiatives to local-level institution-to-institution approaches. We refer to these different policy systems as 2 + 2, credit equivalency, and institution-driven. Across the systems, policies may not be working as intended because many transfer students do not select a major and destination institution early enough in their community college career to avoid credit loss. Moreover, institutions may lack capacity to provide personalized support to students interested in transfer early in their career. Contributions: We provide a new framework to understand different policy approaches to ensuring transfer students’ credits transfer and apply to their major, and offer research, policy, and practice considerations to improve credit mobility across different policy systems.

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7

Miller, Chad R., and Brian Richard. "The Policy Diffusion of the State R&D Investment Tax Credit." State and Local Government Review 42, no. 1 (April 2010): 22–35. http://dx.doi.org/10.1177/0160323x10364748.

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Since the first U.S. state adopted the Research and Development (R&D) tax credit in the early 1980s, the policy has spread to most of the other states. The diffusion continues with numerous modifications and enhancements to the basic R&D tax credit. This study examines the diffusion of the R&D investment tax credit using event history analysis supported by qualitative research. The conclusions of the research are that the R&D tax credit is an economic development approach associated with an existing manufacturing base and implementation is aided by political factors. Adjacent state competition does not appear to lead toward adoption. Applying these findings to the current literature on the effectiveness of the state R&D tax credits highlights the need for thorough policy evaluation before the adoption of tax credits as part of an economic development program.

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8

Morgan, Donald P. "Bank Credit Commitments, Credit Rationing, and Monetary Policy." Journal of Money, Credit and Banking 26, no. 1 (February 1994): 87. http://dx.doi.org/10.2307/2078036.

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9

SU, CHIA-HSIEN, LIANG-YUH OUYANG, CHIA-HUEI HO, and CHUN-TAO CHANG. "RETAILER'S INVENTORY POLICY AND SUPPLIER'S DELIVERY POLICY UNDER TWO-LEVEL TRADE CREDIT STRATEGY." Asia-Pacific Journal of Operational Research 24, no. 05 (October 2007): 613–30. http://dx.doi.org/10.1142/s0217595907001413.

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This paper presents a stylized model to determine the optimal strategy for the integrated supplier-retailer inventory model under the condition that both the supplier and retailer have adopted a trade credit strategy. By analyzing the total channel profit function, we develop an algorithm to simultaneously determine the retailer's optimal order quantity and the number of shipment per production run from the supplier to the retailer. Our results demonstrate that the trade credit strategy is effective to supply chain system performance when customers are sensitive to the credit period length offered by the retailer. Moreover, when customers are sensitive to the credit period, if the retailer conveys partial advantage gained from the trade credit offered by the supplier to customers by suitably adjusting the customer's credit period then the entire system and every channel partner can benefit.

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10

Granruth, Laura Brierton. "Justice Implications of the Proposed Federal Family and Work Tax Credits: Applying Justice Theories to Policy Advocacy." Families in Society: The Journal of Contemporary Social Services 90, no. 2 (April 2009): 205–11. http://dx.doi.org/10.1606/1044-3894.3875.

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A 2005 Presidential Advisory Panel on Tax Reform proposed a family credit and a work credit to replace some current tax credits, deductions, and exemptions. Taxes are overlooked by many social workers as a policy instrument for increasing the disposable income of low- and moderate-income families. This paper analyzes the proposed new credits through a justice framework. Social justice often is defined as the equitable distribution of societal resources. This definition reflects one type of justice–-Rawls's egalitarian philosophy. A more nuanced understanding of justice may enable coalition building in policy making, leading to the enactment of tax policy that helps families pay for their basic needs–-a goal of both direct service and policy practice social work practitioners.

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11

김태규 and 김인중. "Credit Ratings and Dividend Policy." Korean Journal of Financial Engineering 18, no. 2 (June 2019): 27–49. http://dx.doi.org/10.35527/kfedoi.2019.18.2.002.

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12

MINELLI, ENRICO, and SALVATORE MODICA. "Credit Market Failures and Policy." Journal of Public Economic Theory 11, no. 3 (June 2009): 363–82. http://dx.doi.org/10.1111/j.1467-9779.2009.01414.x.

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13

Meza, David de, and David Webb. "Wealth, Enterprise and Credit Policy." Economic Journal 109, no. 455 (April 1, 1999): 153–63. http://dx.doi.org/10.1111/1468-0297.00424.

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14

CÚRDIA, VASCO, and MICHAEL WOODFORD. "Credit Spreads and Monetary Policy." Journal of Money, Credit and Banking 42 (August 18, 2010): 3–35. http://dx.doi.org/10.1111/j.1538-4616.2010.00328.x.

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15

Sundararajan, V. "Exchange rate versus credit policy." Journal of Development Economics 20, no. 1 (January 1986): 75–105. http://dx.doi.org/10.1016/0304-3878(86)90006-4.

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16

Teranishi, Yuki. "Credit spread and monetary policy." Economics Letters 114, no. 1 (January 2012): 26–28. http://dx.doi.org/10.1016/j.econlet.2011.08.022.

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17

Peydró, José-Luis. "Macroprudential Policy and Credit Supply." Swiss Journal of Economics and Statistics 152, no. 4 (January 11, 2016): 305–18. http://dx.doi.org/10.1007/bf03399430.

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18

Bianco, Timothy. "Monetary policy and credit flows." Journal of Macroeconomics 70 (December 2021): 103362. http://dx.doi.org/10.1016/j.jmacro.2021.103362.

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19

Crouzet, Nicolas. "Credit Disintermediation and Monetary Policy." IMF Economic Review 69, no. 1 (February 16, 2021): 23–89. http://dx.doi.org/10.1057/s41308-020-00131-3.

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20

Turvey, Calum G. "Policy rationing in rural credit markets." Agricultural Finance Review 73, no. 2 (July 26, 2013): 209–32. http://dx.doi.org/10.1108/afr-04-2013-0020.

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PurposeThe purpose of this paper is to present a discussion on the idea of “policy rationing”. Policy rationing refers to constraining impacts on farm credit through policy action or inaction. To present the ideas the author discusses ten themes in policy rationing, ranging from macro‐finance policies to smart lending and financial inclusion.Design/methodology/approachThe paper is developed as a narrative on agricultural credit policies based largely on existing literature.FindingsThis paper argues that the various critiques of rural credit policy in favor of free market principles have generally not worked in developing economies. Large numbers of farmers do not have access to formal credit. It is argued that there is a role for government and credit programs.Research limitations/implicationsThe opinions expressed in this paper are based on existing literature and not all ideas hold with general agreement across researchers and practitioners. The discussion is not exhaustive and in some cases the ideas might have been parsed further.Practical implicationsIn this paper the author discusses ten themes that he thinks are relevant for a balanced discussion of farm credit in a development context. These themes illustrate a variety of complexities with respect to rural credit policy. The author ends by restating the themes in the form of ten questions that should be asked in whole, or in part, before any farm credit policy is field‐implemented.Social implicationsThis paper deals with a broad range of issues on rural credit policy. It is directed towards a reformation of ideas about credit policy, especially in developing economies. It is argued that, all things considered, on balance there is a role for government in rural credit policy.Originality/valueThere is much discourse amongst development economist about the role of government and credit policy in agricultural development. By thinking of government action or inaction as a form of policy rationing, some clarification is brought to the policy debate.

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21

Guo, Chun, Wunhong Su, and Xiaobao Song. "THE SUBSTITUTION FINANCING EFFECT OF SUPPLIERS’ TRADE CREDIT ON CUSTOMERS’ TRADE CREDIT IN CHINA." Journal of Business Economics and Management 22, no. 6 (October 19, 2021): 1456–75. http://dx.doi.org/10.3846/jbem.2021.15608.

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This study investigates the substitution financing effect of suppliers’ trade credit on customers’ trade-credit using Chinese listed firms from 2009 to 2018. Results verify the substitution financing effect of suppliers’ trade credit on customers’ trade credit, indicating that firms with higher suppliers’ trade credit have lower customers’ trade credit. Moreover, suppliers’ trade-credit substitutes customers’ trade credit by alleviating financing constraints. Customer concentration weakens the substitution financing relation. Finally, the substitution financing effect of customers’ trade credit on bank credit is more pronounced than that of suppliers’ trade credit. As exogenous policy shock, the capital market liberalization has no significant impact on the substitution financing relation between heterogeneous trade credits. This study reveals that trade credit is heterogeneous rather than homogeneous. The substitution financing effect also exists in trade credit inside, which expands the existing literature’s understanding of trade credit and the substitution financing theory’s connotation.

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22

D., Ayodele Thomas, and Raphael O. Alabi. "The Impact of Credit Policy on the Performance of Nigerian Commercial Banks." International Finance and Banking 1, no. 2 (December 18, 2014): 40. http://dx.doi.org/10.5296/ifb.v1i2.6808.

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The major financial intermediary in any economy is the bank. As financial intermediaries, banks provide means by which funds can be transferred from the surplus unit of the economy to the deficit unit. This role is performed primarily through the acceptance of deposits of different categories and characteristics for onward lending to the numerous customers by way of loans and credits. The study tries to access the impact of credit policy on the performance of Nigerian Commercial Banks using Zenith Bank Plc as case study. Primary data were collected through questionnaires served on sixty (60) respondents (staff: 32 and customer: 28) of the bank. The questionnaires were analysed with the use of chi-square (X2). The findings from the study show that having a good credit policy in place goes a long way in minimizing the incidence of bad debts. It was also discovered that prudent credit assessment and disbursement, dynamic credit monitoring and decisive actions when there are warning signals, have all helped the bank to maintain a high quality of assets and a high level of profitability.

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23

Zelenak, Lawrence. "A Health Insurance Tax Credit for Uninsured Workers." INQUIRY: The Journal of Health Care Organization, Provision, and Financing 38, no. 2 (May 2001): 106–20. http://dx.doi.org/10.5034/inquiryjrnl_38.2.106.

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This paper describes a new system of tax credits to help low-income workers pay for health insurance. The system would be designed to subsidize health insurance coverage for workers who are currently uninsured, or who pay high premiums for nongroup insurance. Anyone age 19 or older who is not covered by Medicaid, Medicare, or employer-sponsored health insurance would be eligible for a health insurance tax credit (HITC), administered through the Internal Revenue Service. The base amount of the proposed credit would be $2,000 per year for each covered individual, but this amount would be adjusted for the individual's age and sex, according to the effect of age and sex on the cost of insurance coverage. The base amount of the credit would be reduced by $150 for every $1,000 by which a person's income exceeded 200% of the federal poverty level, thus limiting HITC eligibility to lower-income workers. To encourage participation in the credit program, most of the credit would be available through an advance payment system, with final reconciliation after year's end.

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24

Vercammen, James A. "Credit Bureau Policy and Sustainable Reputation Effects in Credit Markets." Economica 62, no. 248 (November 1995): 461. http://dx.doi.org/10.2307/2554671.

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25

Liu, Ming, Jie Zhu, Yuanchao Bian, and Liping Chen. "Comprehensive Credit Risk Management of Policy Export Credit Insurance Institutions." Journal of Accounting, Business and Finance Research 4, no. 2 (2018): 66–73. http://dx.doi.org/10.20448/2002.42.66.73.

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26

Hartsema, Sarah Taylor, Chris Harris, Zhe Li, and Thibaut G. Morillon. "Intangible assets and trade credit policy." Managerial Finance 47, no. 9 (April 29, 2021): 1286–99. http://dx.doi.org/10.1108/mf-07-2020-0372.

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PurposeThe purpose of this paper is to identify whether the rise in intangible asset investment is related to trade credit investment and whether this relationship is driven by financial constraint and other firm factors.Design/methodology/approachThe study conducts fixed effect regressions testing the relationship between trade credit investment and intangible asset levels. The relationship is further examined for all firms based on product type, financial constraint and sales growth.FindingsThere is a negative relationship between investment in trade credit and the level of intangible assets as a proportion of total assets. This negative relationship is largely explained by firms in industries that traditionally utilize more trade credit, firms with financial constraints and firms with low sales growth.Practical implicationsThe level of investment in intangible assets continues to rise, while investment in trade credit is declining. This paper is the first to identify whether these trends could be related and to provide some explanation why.Originality/valueThis study is the first to link investment in trade credit with investment in intangible assets. There is a negative relationship that is most pronounced for firms that typically offer more trade credit, that are experiencing financial constraint and that are experiencing low growth.

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27

Guizani, Brahim. "Japanese Regulation Policy and Credit Crunch." Asian Survey 55, no. 4 (August 1, 2015): 822–43. http://dx.doi.org/10.1525/as.2015.55.4.822.

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This paper aims to answer this question: What were the causes of the severe slowdown in bank credit in Japan between 1999 and 2005? We test three credit crunch hypotheses, all together. The empirical results uncover the occurrence of a credit crunch that is attributed to bankers’ precautionary behavior rather than direct regulatory capital worries.

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28

Eichengreen, Barry. "Bad Credit History." Current History 108, no. 714 (January 1, 2009): 14–19. http://dx.doi.org/10.1525/curh.2009.108.714.14.

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29

Benmelech, Efraim, and Nittai K. Bergman. "Credit Traps." American Economic Review 102, no. 6 (October 1, 2012): 3004–32. http://dx.doi.org/10.1257/aer.102.6.3004.

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This paper studies the limitations of monetary policy in stimulating credit and investment. We show that, under certain circumstances, unconventional monetary policies fail in that liquidity injections into the banking sector are hoarded and not lent out. We use the term “credit traps” to describe such situations and show how they can arise due to the interplay between financing frictions, liquidity, and collateral values. We show that small contractions in monetary policy can lead to a collapse in lending. Our analysis demonstrates how quantitative easing may be useful in increasing collateral prices, bank lending, and aggregate investment. (JEL E44, E52, E58, G01)

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30

Karpova, T. S. "BANK’S CREDIT POLICY IN CONDITIONS OF DIGITAL TECHNOLOGIES." Herald of Kiev Institute of Business and Technology 40, no. 2 (June 14, 2019): 16–21. http://dx.doi.org/10.37203/kibit.2019.40.04.

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The article defines the essence and role of credit policy, substantiates the need for its improvement in current conditions. The basic principles and functions of credit policy are given. It is concluded that the basis of credit policy should be the main principles: reliability and profitability of funds and the principles of rational lending. The goals of credit policy and directions of its implementation are determined. The share of credit operations in the general structure of assets of domestic banks is estimated. It is noted that commercial banks' credit policy is an integral part of the strategy and tactics of the NBU and the government. Measures to improve the efficiency of commercial banks' current activities and improve their credit policy are proposed.

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31

KARPOVA, T. S. "THE ESSENCE OF THE CREDIT POLICY OF BANKS WITH FOREIGN CAPITAL AND THE PECULIARITIES OF ITS IMPLEMENTATION." Herald of Kiev Institute of Business and Technology 42, no. 4 (December 23, 2019): 51–56. http://dx.doi.org/10.37203/kibit.2019.42.08.

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In our country the question of developing a credit policy remains important and paramount, so far there is no single answer to it. The article proposes the point of view of scientists on the concept of "credit policy", which is a system of principles established by the central bank and the state in the credit sphere with the purpose of regulating the credit process in banks. Credit policy should form the content of the loan portfolio and establish standards for making credit decisions, it is analyzed its direction. The principles of balanced credit policy, as well as its main stages, are systematized. The credit policy of a commercial bank must contain rules for the implementation of specific goals, including standards and instructions that represent the methodological support for its implementation. It is proved, that credit policy of a commercial bank is a combination of its credit strategy and credit tactics. The credit policy features are prescribed, which should be reflected in the bank's internal documents. Determination and improvement of credit policy means to formulate and consolidate in the necessary internal documents the position of the management of the bank. The goals of the bank in conducting a balanced credit policy, the functions of the credit policy, macro- and microfactors affecting it are indicated. Goals and standards of lending are determined in accordance with the strategic development plan of the bank and can be formulated both in the long-term development plan and in the budget of the bank for the current year. The importance of the principles of rational lending and the composition of lending standards are emphasized. The development of a credit policy of any bank depends on a number of factors, among which macrofactors and microprocessors can be identified. Functions of credit policy are: commercial functions, control functions, stimulating function, specific functions. The credit policy of banks when working with legal entities is aimed at developing long-term relationships with borrowers, in article the criteria for selecting clients for cooperation are determined.

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32

Herdinata, Christian. "Credit Policy Planning in Medium Scale Business." Mediterranean Journal of Social Sciences 8, no. 1 (January 26, 2017): 14–19. http://dx.doi.org/10.5901/mjss.2017.v8n1p14.

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Abstract In dealing with the factors affecting credit policy, a management should consider external and internal information before creating a policy. Internal factors include the structure and the amount of available bank assets and liabilities, and the type, state, and composition of available banking facilities and personnels. Meanwhile, external factors include the atmosphere of the business world in general and banking sector in particular, bank location, and others. The factors that need to be considered in credit policy cannot be separated from the problems that exist in banking activities. Since the factors affecting credit policy act as a guideline which influences credit management, it is important to analyze these factors. This research maps out some important factors in credit management and recommends certain practical steps that can be taken in credit management.

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33

Ma, Miaomiao, Weidong Meng, Yuyu Li, and Bo Huang. "Supply chain coordination strategy for NEVs based on supplier alliance under dual-credit policy." PLOS ONE 16, no. 10 (October 1, 2021): e0257505. http://dx.doi.org/10.1371/journal.pone.0257505.

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In this paper, we assume that the supply chain for new energy vehicles (NEVs) consists of a manufacturer and N parts suppliers, considering that the R&D investment of both manufacturer and suppliers will affect the market demand of NEVs and NEVs credit, we construct decentralized and centralized decision-making models under the dual-credit policy to study the R&D investment strategy of supply chain enterprises. Furthermore, considering that suppliers can form alliances, we establish bargaining game models under the conditions of the non-alliance and alliance of suppliers, and discuss the coordination strategy for the NEVs supply chain. It is found that, under the dual-credit policy, the higher the credit coefficient of technology improvement, the higher the transaction price of credits, and the higher the R&D investment of supply chain. Dual-credit policy can effectively encourage NEVs supply chain to increase R&D investment, improve NEV technology level, and improve the profit of supply chain. Under the dual-credit policy, the increment profit distribution strategy based on a bargaining game model can coordinate the NEVs supply chain. When suppliers separately negotiate with the manufacturer, bringing the negotiation sequence forward, the supplier can get more profits. However, as the manufacturer has the right to determine the negotiation sequence, the supplier can only get the profit of the last round of negotiation, and the manufacturer can get excess profit. Forming a suppliers alliance can solve this problem effectively, and increase the profit of all suppliers when the alliance`s negotiating power is improved to a certain threshold.

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34

Auerbach, Alan J., Yuriy Gorodnichenko, and Daniel Murphy. "Effects of Fiscal Policy on Credit Markets." AEA Papers and Proceedings 110 (May 1, 2020): 119–24. http://dx.doi.org/10.1257/pandp.20201074.

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Credit markets typically freeze in recessions: access to credit declines, and the cost of credit increases. A conventional policy response is to rely on monetary tools to saturate financial markets with liquidity. Given limited space for monetary policy in the current economic conditions, we study how fiscal stimulus can influence local credit markets. Using rich geographical variation in US federal government contracts, we document that, in a local economy, interest rates on consumer loans decrease in response to an expansionary government spending shock.

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35

Montes, Gabriel Caldas, and Gabriel Gonçalves do Vale Monteiro. "Monetary policy, prudential regulation and investment." Journal of Economic Studies 41, no. 6 (November 10, 2014): 881–906. http://dx.doi.org/10.1108/jes-12-2012-0173.

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Purpose – The purpose of this paper is to analyze the influence of prudential regulation and monetary policies on the supply of credit as well as the influence of such policies on the aggregate investment through the credit channel in Brazil. Design/methodology/approach – The empirical analysis is based on estimates through ordinary least squares (OLS), generalized method of moments (GMM), system of equations through GMM (system-GMM), and impulse response functions through vector autoregressive (VAR). Findings – The results suggest that monetary policies and prudential regulation affect aggregate investment through the bank lending channel. With regards to elasticities, the findings indicate that the credit is very sensitive to variations in economic activity and, in turn, prudential regulation presents a stronger influence on credit than the basic interest rate and the reserve requirement rate. Moreover, the estimates suggest that aggregate investment is more sensitive to entrepreneurs’ expectations and credit supply. Practical implications – Aiming to reduce systemic risk in the economy, capital requirements may be increased in order to induce banks to a lower risk exposure by reducing the supply of loans. However, while this instrument strengthens the banking system, it can also lead the banking system to become less sensitive to monetary policy shocks, and also discourage aggregate demand through the influence that the credit exerts on investments. As a consequence, prudential regulation is an important tool because it acts on the balance between economic growth and low risk exposure of banks. Originality/value – The paper provides useful insights to academicians, economists and policymakers who are interested in understanding the effects of monetary policies and prudential regulation on aggregate investment through the credit channel in an emerging economy under inflation targeting. Moreover, the paper develops a theoretical model in order to show the influence of different monetary policies, as well as the influence of prudential regulation on the supply of credit.

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36

Chen, Muyang. "Infrastructure finance, late development, and China’s reshaping of international credit governance." European Journal of International Relations 27, no. 3 (March 31, 2021): 830–57. http://dx.doi.org/10.1177/13540661211002906.

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How is the rise of China affecting international governance? This paper examines the domain of infrastructure finance by focusing on China’s two policy banks, which are the main creditors of China’s overseas infrastructure projects. While the incumbent international credit regimes led by the Organisation for Economic Co-operation and Development (OECD) distinguish development-oriented aid from commercially oriented export credits, emerging late-developed economies blur this dichotomy by largely funding development projects with state-backed export credits. The way China alters the OECD’s credit governance, this paper argues, demonstrates both the generality of late development and the peculiarity of “Chinese” development. Rather than directly subsidizing firms’ international business with the state’s fiscal revenue, policy banks financialized host country’s state-owned and state-coordinated assets using various market instruments. By doing so, they gave Chinese firms a comparative advantage in the markets of less developed regions, allowing them to undertake projects that firms from advanced industrial countries cannot. This financing mechanism has reshaped the international development regime by transforming the dominant means of credit allocation from state-led aid-giving to market-based exchange, and rewritten the liberal rules of the international export credit regime by financing the developing world in a both statist and liberalist manner. As a result, China has built a paralleled regime in regions insufficiently covered by the existing financial schemes of incumbent credit regimes.

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37

Qureshi, Sarfraz Khan, and Akhtiar H. Shah. "A Critical Review of Rural Credit Policy in Pakistan." Pakistan Development Review 31, no. 4II (December 1, 1992): 781–801. http://dx.doi.org/10.30541/v31i4iipp.781-801.

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Lack of liquidity which acts as a constraint for agricultural development has provided a rationale for rapid growth in formal agricultural credit in Pakistan since the early 1960s. Between 1959-60 and 1991-92 institutional credit for the sector had registered an annual growth rate of 31 percent in nominal terms and 20 percent in real terms. The explosive increase in agricultural credit was accompanied by a creation of new financial institutions, the strengthening of already existing institutions and the adoption of credit policies to increase the flow of credit for the sector in general and for small farmers in particular. In this paper, an attempt is made to review farm credit policy in Pakistan in relation to its impact on agricultural growth and equity and to assess the strength of the credit institutions to keep contributi~g effectively to the provision of credit in the rural sector.

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38

E Young Song. "Selective Trade Policy and Credit Constraints." KUKJE KYUNGJE YONGU 23, no. 2 (June 2017): 1–29. http://dx.doi.org/10.17298/kky.2017.23.2.001.

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39

Azariadis, Costas, James Bullard, Aarti Singh, and Jacek Suda. "Incomplete credit markets and monetary policy." Journal of Economic Dynamics and Control 103 (June 2019): 83–101. http://dx.doi.org/10.1016/j.jedc.2019.03.005.

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Cúrdia, Vasco, and Michael Woodford. "Credit Frictions and Optimal Monetary Policy." Journal of Monetary Economics 84 (December 2016): 30–65. http://dx.doi.org/10.1016/j.jmoneco.2016.10.003.

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Minford, Patrick. "MONETARY POLICY AND THE CREDIT CRUNCH." Economic Affairs 29, no. 1 (March 2009): 89–91. http://dx.doi.org/10.1111/j.1468-0270.2009.01876.x.

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Martínez-Sola, Cristina, Pedro J. García-Teruel, and Pedro Martínez-Solano. "Trade credit policy and firm value." Accounting & Finance 53, no. 3 (June 13, 2012): 791–808. http://dx.doi.org/10.1111/j.1467-629x.2012.00488.x.

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Shao, Enchuan. "Credit rationing and endogenous monetary policy." Applied Economics Letters 17, no. 5 (March 15, 2010): 437–43. http://dx.doi.org/10.1080/13504850701857858.

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Stowe, John D., and Janis L. Miller. "A billing policy for credit customers." Managerial and Decision Economics 12, no. 5 (October 1991): 395–403. http://dx.doi.org/10.1002/mde.4090120508.

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Espinosa-Vega, Marco A., Bruce D. Smith, and Chong K. Yip. "Monetary Policy and Government Credit Programs." Journal of Financial Intermediation 11, no. 3 (July 2002): 232–68. http://dx.doi.org/10.1006/jfin.2002.0336.

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Gilchrist, Simon, and Egon Zakrajšek. "Monetary Policy and Credit Supply Shocks." IMF Economic Review 59, no. 2 (June 2011): 195–232. http://dx.doi.org/10.1057/imfer.2011.9.

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Pagano, Marco, and Paolo Volpin. "Credit ratings failures and policy options." Economic Policy 25, no. 62 (April 2010): 401–31. http://dx.doi.org/10.1111/j.1468-0327.2010.00245.x.

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Mateut, Simona. "Trade Credit and Monetary Policy Transmission." Journal of Economic Surveys 19, no. 4 (September 2005): 655–70. http://dx.doi.org/10.1111/j.0950-0804.2005.00262.x.

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Kaviani, Mahsa S., Lawrence Kryzanowski, Hosein Maleki, and Pavel Savor. "Policy uncertainty and corporate credit spreads." Journal of Financial Economics 138, no. 3 (December 2020): 838–65. http://dx.doi.org/10.1016/j.jfineco.2020.07.001.

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Caraiani, Petre, Marc-André Luik, and Dennis Wesselbaum. "Credit policy and asset price bubbles." Journal of Macroeconomics 65 (September 2020): 103229. http://dx.doi.org/10.1016/j.jmacro.2020.103229.

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