The paper uses the concept of credit limit to analyze the determinants of household access to and participation in informal and formal credit markets in Malawi. Households are found to be credit constrained, on average, both in the formal and informal sectors; they borrow, on average, less than half of any increase in their credit lines. Furthermore, they are not discouraged in their participat...

working papers are produced by the Bradford University School of Management and are to be circulated for discussion purposes only. Their contents should be considered to be preliminary. The papers are expected to be published in due course, in a revised form and should not be quoted without the author's permission. The literature offers numerous motives for extending trade credit. A major econo...

In this paper we provide evidence that equity returns lead credit protection returns at daily and weekly frequencies, while credit protection returns do not lead equity returns. Our results indicate that informed traders are primarily active in the equity market rather than the CDS market. These findings are consistent with standard theories of market selection by informed traders in which mark...

According to the financial accelerator model, a small monetary or other shock is amplified through credit market restrictions on small firms, and swings in balance sheets over the business cycle cause swings in small firms’ spending. This paper incorporates these notions in an empirical model of firm behavior. We use unit transaction cost of debt and rationed credit as indicators of balance she...

-Now a day, e-commerce sites are very popular. Online shopping using wap enabled mobile phone has widely come into use. Debit and credit cards are used for secure etransaction. As the technology developed thief are also very smart, they stolen our detail from wap and use it. we present a model that can be used for secure transaction during using smart phone and give the features of smart phone ...

There is an immediate need to step up the flow of credit to agricultural and other rural activities in India for improving rural productivity and economic welfare. In this context, we propose an ICT-based solution for improving the delivery of credit and other services to the rural areas through unbundling and outsourcing of the rural banking operations. The solution involves setting up of a co...

Based on the UCP 500 and UCP 600, this paper analyses the two principles of letter of credit, in order to prepare the theory basis for the risks analysis afterwards. For the different parties (exporter, importer, banks), possible risks and frauds are shown with case studies. The paper also puts forward the advice for various risks and intends to indicate that risks still exit in letter-of-credi...

In this paper we apply Boella and van der Torre’s normative multiagent systems to analyze a model of transaction trust introduced by Tan and colleagues. We discuss the role of constitutive and regulative norms in party trust and control trust. Moreover, we use so called contract negotiation games to indicate when controls are needed. Though sometimes regulators focus exclusively on adding contr...

The dataset contains information about 14 million bank card transactions made by customers of the Banco Bilbao Vizcaya Argentaria (BBVA) in the metropolitan areas of Barcelona and Madrid in 2011. For both case studies, we only consider the credit card payments whose amount was inferior to 1000 euros, and which were made inside the metropolitan areas, by bank customers that lived and worked in t...

This paper presents a model for the credit card industry, where oligopolistic card networks price their products in a complex marketplace with competing payment instruments, rational consumers/merchants, and competitive card issuers/acquirers. The analysis suggests that card networks demand higher interchange fees to maximize card issuers’ profits as card payments become more efficient. At equi...