Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/336326 
Year of Publication: 
2021
Citation: 
[Journal:] Latin American Journal of Central Banking (LAJCB) [ISSN:] 2666-1438 [Volume:] 2 [Issue:] 3 [Article No.:] 100034 [Year:] 2021 [Pages:] 1-17
Publisher: 
Elsevier, Amsterdam
Abstract: 
We build a commercial credit network, identify the most central economic sectors in terms of commercial debt, and provide a more complete idea of total indebtedness and financial interlinks between firms and banks in Uruguay. "Commerce," "manufacturing," and "transportation, storage, and communication" are the most central sectors in the commercial credit network. In a stress testing exercise, "transportation, storage, and communication" and "hotels and restaurants" are deeply affected in all cases. These sectors are the most exposed in terms of contagion. "Commerce" and "manufacturing" are central and have the highest level of indebtedness, but they have a large amount of liquid assets, which allows them to overcome shocks from other sectors. The results highlight the importance of having a good estimation of commercial credit interlinks for financial stability analysis.
Subjects: 
Commercial credit network
Financial interlinks
Financial contagion
Financial stability
JEL: 
G17
G32
G33
L14
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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