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Can Blockchain Solve the Hold-up Problem in Contracts?

Holden, Richard T. - 2019

Two parties sign a contract but before they fully perform they modify the contract. Should courts enforce the modified … to write a contract that is robust to hold-up or that makes the facts relevant to modification verifiable. But … contract technology, e.g., the use of liquidated damages, to ensure commitment are disfavored by courts and subject to …

Persistent link: https://www.econbiz.de/10012479782

Scaling Smart Contracts via Layer-2 Technologies : Some Empirical Evidence

Cong, Lin William; Hui, Xiang; Tucker, Catherine; Zhou, … - National Bureau of Economic Research - 2023

Blockchain-based smart contracts can potentially replace certain traditional contracts through decentralized … how blockchain and smart contracting technologies evolve towards achieving decentralized and scalable trust …

Persistent link: https://www.econbiz.de/10014226109

Financial and Informational Integration Through Oracle Networks

Cong, Lin William; Prasad, Eswar S.; Rabetti, Daniel - National Bureau of Economic Research - 2025

, enhancing smart contract capabilities and platform interoperability. Oracles play key roles in decentralized finance and … blockchain applications in centralized finance. We find that integration into decentralized oracle networks is positively …

Persistent link: https://www.econbiz.de/10015398092

Who Benefits From The Export-Import Bank Aid?

Benmelech, Efraim; Monteiro, Joao - National Bureau of Economic Research - 2023

We study the effectiveness of government aid to exporters by exploring an exogenous shock that affected the ability of the Export-Import Bank of the United States (EXIM) to provide aid to U.S. exporters through loan guarantees to importers. We focus on Boeing, the largest individual recipient of...

Persistent link: https://www.econbiz.de/10014337795

Specialization in Bank Lending : Evidence from Exporting Firms

Paravisini, Daniel - 2015

We develop an empirical approach for identifying specialization in bank lending using granular data on borrower activities. We illustrate the approach by characterizing bank specialization by export market, combining bank, loan, and export data for all firms in Peru. We find that all banks...

Persistent link: https://www.econbiz.de/10012456871

Poultry in Motion : A Study of International Trade Finance Practices

Antràs, Pol - 2011

and by the possibility that an exporter does not deliver goods as specified in the contract. The empirical results …

Persistent link: https://www.econbiz.de/10012461566

Exports and Financial Shocks

Amiti, Mary - 2009

A striking feature of many financial crises is the collapse of exports relative to output. In the 2008 financial crisis, real world exports plunged 17 percent while GDP fell 5 percent. This paper examines whether deteriorations in bank health can help explain the large drops in exports relative...

Persistent link: https://www.econbiz.de/10012463093

Capital Controls and International Trade Finance

Giovannini, Alberto - 1989

This paper studies the effects of prohibiting individuals from holding foreign assets, and of allowing firms to trade in foreign assets only up to what is needed to finance export and import activities. Although firms can perform arbitrage between domestic and foreign financial markets, the...

Persistent link: https://www.econbiz.de/10012475933

Foreign Currency Borrowing of Corporations as Carry Trades : Evidence from India

Acharya, Viral V. - 2020

We establish that macroprudential policies limiting capital flows can curb risks arising from corporate foreign currency borrowing in emerging markets. Using detailed firm-level data from India, we show that propensity to issue foreign currency debt for the same firm is higher when the...

Persistent link: https://www.econbiz.de/10012482315

Trade Shocks and Credit Reallocation

Federico, Stefano; Hassan, Fadi; Rappoport, Veronica - National Bureau of Economic Research - 2023

This paper identifies a credit-supply contraction that arises endogenously after trade liberalization. Banks with loan portfolios concentrated in sectors exposed to competition from China face an increase in non-performing loans after China's entry into the World Trade Organization. As a result,...

Persistent link: https://www.econbiz.de/10014250129