Credit Rationing and Pass-Through in Supply Chains: Theory and Evidence from Bangladesh

• 成果类型: Article
• 署名作者: Emran, M. Shahe; Mookherjee, Dilip; Shilpi, Forhad; Uddin, M. Helal
• 署名单位: Columbia University; Boston University; The World Bank; University of Dhaka
• 刊物名称: AMERICAN ECONOMIC JOURNAL-APPLIED ECONOMICS
• ISSN/ISSBN: 1945-7782
• DOI: 10.1257/app.20190083
• 发表日期: 2021
• 页码: 202-236
• 关键词: traders; prices

摘要

Traders are often blamed for high prices, prompting government regulation. We study the effects of a government ban of a layer of financing intermediaries in edible oil supply chain in Bangladesh during 2011-2012. Contrary to the predictions of a standard model of an oligopolistic supply chain, the ban caused downstream wholesale and retail prices to rise, and pass-through of the changes in imported crude oil price to fall. These results can be explained by an extension of the standard model to incorporate trade credit frictions, where intermediaries expand credit access of downstream traders.