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Sources of Credit and the Extent of the Credit Market: A View from Bankruptcy Records, Mississippi 1929-1936

Mary Hansen

No 2014-09, Working Papers from American University, Department of Economics

Abstract: 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. Â

Date: 2014
New Economics Papers: this item is included in nep-his
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