Demir, Banu; Michalski, Tomasz; Örs, Evren - 2014
's exports to 174 countries. We estimate the resulting payment-term-cost elasticity of CLC-financed trade to be between -0.5 and … -1 while the overall trade elasticity to be between -0.032 and -0.179. Calculations suggest that both CLC-related bank …