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Why Do Trade Finance Gaps Persist : Does It Matter for Trade and Development?

Auboin, Marc - 2017

Trade finance shortfalls now appear regularly. Does this matter for trade expansion and economic development in developing countries? Global trade finance has resumed following the 2009 global financial crisis. However, the pattern of recovery has been uneven across countries and categories of...

Persistent link: https://www.econbiz.de/10012956721

Improving the Availability of Trade Finance in Developing Countries : An Assessment of Remaining Gaps

Auboin, Marc - 2016

While conditions in trade finance markets returned to normality in the main routes of trade, the structural difficulties of poor countries in accessing trade finance have not disappeared – and might have been worsened during and after the global financial crisis. In fact, there is a consistent...

Persistent link: https://www.econbiz.de/10012996201

No Guarantees, No Trade : How Banks Affect Export Patterns

Niepmann, Friederike - 2014

This study provides evidence that shocks to the supply of trade finance have a causal effect on U.S. exports. The identification strategy exploits variation in the importance of banks as providers of letters of credit across countries. The larger a U.S. bank's share of the trade finance market...

Persistent link: https://www.econbiz.de/10013057250

Towards a Theory of Trade Finance

Schmidt-Eisenlohr, Tim - 2013

one shot transactions, repeated transactions and implications for trade. The equilibrium contract is determined by …

Persistent link: https://www.econbiz.de/10013093523

The Impact of Basel III on Trade Finance : The Potential Unintended Consequences of the Leverage Ratio

Auboin, Marc - 2014

Trade finance, particularly in the form of short-term letters of credit has received favourable capital treatment new Basel III rules. However, concerns have been expressed over the potential negative “unintended consequences” of the newly created leverage ratio for trade. This paper offers...

Persistent link: https://www.econbiz.de/10013046587

An Economic Analysis of Blockchains

Waelbroeck, Patrick - 2021

The blockchain is a technology that goes beyond timestamping, bitcoin and secure financial transactions. The … development of an ecosystem around smart connected objects will probably not happen without the blockchain (in one form or another …). The blockchain opens the door to the liquification of the physical world, to the economy of real-time micro …

Persistent link: https://www.econbiz.de/10013315424

General Equilibrium with Contracts

Kwon, Suehyun - 2017

This paper studies general equilibrium when workers in the economy are also consumers of final goods. Once a firm and a worker are matched, there is a standard moral hazard problem. However, the firm's profit depends on the price of the good the worker produces, and the price is determined by...

Persistent link: https://www.econbiz.de/10012964063

Optimal Contracting with Endogenous Project Mission

Cassar, Lea - 2017

I analyze a model in which a principal offers a contract to an agent and can influence the agent's marginal return of …

Persistent link: https://www.econbiz.de/10012966930

Relational Contracts, the Cost of Enforcing Formal Contracts, and Capital Structure Choice - Theory and Evidence

Fahn, Matthias - 2017

This paper shows that the cost of enforcing contracts governing non-financial relationships between firms affects a firm's financing structure. We analyze the interaction between a firm's capital structure and the type of contracts it uses to deal with its suppliers. We first develop a...

Persistent link: https://www.econbiz.de/10012950295

Optimal Contracts for Discouraging Deforestation with Risk Averse Agents

Mason, Charles F. - 2018

There is an emerging consensus that carbon emissions must be limited. An attractive approach to promoting carbon reductions is to encourage reductions in deforestation. But any such strategy must confront a basic problem: agents that might be induced to reduce their actions which would reduce...

Persistent link: https://www.econbiz.de/10012914953