期刊名称：Federal Reserve Bank of St. Louis - Regional Economist
出版年度：2014
出版社：Federal Reserve Bank of St. Louis
摘要：F irms use credit to finance production, working capital, investment in physical capital, a nd research and development. All these activities are impor tant for the func- tioning of the economy. In fact, as argued in recent research, there is a strong connection between the development of credit markets and that of the economy. 1 On June 5, t he Board of Governors of t he Federal Reserve System published t he Finan- cial Accou nts of t he United States for the fi rst quarter of 2014. This article uses data from that publication to analyze the use of credit by non financia l businesses since the fina ncial crisis of 2008. The main finding is t hat the evolution of outstanding liabilities has been very different for corporate and noncorporate businesses, w ith a remarkable stagnation in credit to noncorporate businesses.
