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Les tensions sur le marché du crédit de trésorerie en France dans une perspective historique

Kheira Benhami, Marie Bessec () and Guillaume Gilquin

Economie & Prévision, 2017, vol. n° 210, issue 1, 95-111

Abstract: This paper assesses the tensions in the distribution of short-term loans in France in?1994-2013. It is hard to determine how much of the decrease in new loans was due to weaker corporate demand caused by an economic slowdown and how much was due to credit rationing by banks. This is a key issue because each scenario calls for different public policy responses. Using a macroeconometric model, we show that tensions appeared in the wake of recessions (1994-1995?and 2009-2010), with a potential for hampering economic recovery. These episodes were caused by credit supply shocks due to a sharp increase in bad loans amid a rise in credit demand stimulated by a revival of business activity.

Keywords: credit rationing; disequilibrium model; corporate finance (search for similar items in EconPapers)
Date: 2017
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Working Paper: Les tensions sur le marché du crédit de trésorerie en France dans une perspective historique (2017)
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