English Abstract: Cross-border trade credit is credit extended by exporters and importers and makes up a considerable share of the trade finance instruments used in global trade. We use quarterly data on cross-border trade credit recorded in the International Investment Position at the...

This paper incorporates foreign direct investment (FDI) into the examination of trading bloc formation with endogenously determined coalition structures. In so doing, we build a three-country model, in which firms serve foreign markets either by exporting or undertaking FDI, and consider a...

In this paper, we examine the channels through which the current global crisis affects Korea's trade and assess the implications thereof. These five important channels under investigation are: (1) world demand, (2) domestic demand, (3) exchange rate, (4) credit markets, and (5) protectionism. We...

This paper discusses what political and economic factors affect house representatives voting behavior on free trade agreement (FTA) implementation bills in the 108th and 109th Congresses in the U.S. using a simultaneous probit-tobit model that consists of contribution equations and voting...

Using two novel measures of bank-intermediated trade finance in Korea, this paper empirically assesses the effects of financial shocks on the availability of trade finance and finds that these effects are generally negative and last for at least three months, implying significant delays and...

This paper addresses the manner in which political and economic factors affect the voting behavior of House representatives on free trade agreement (FTA) implementation bills in the 108th and 109th Congresses in the U.S., using a simultaneous probit-tobit model consisting of contribution and...