Financial market imperfections severely restrict currency use in international trade. We develop a unified search-based framework with financial frictions to address the determinants for currency choice, emphasizing the roles of trade finance and financial market development, as well as macro,...

Financial market imperfections severely restrict currency use in international trade. We develop a unified search-based framework with financial frictions to address the determinants for currency choice, emphasizing the roles of trade finance and financial market development, as well as macro,...

Financial market imperfections severely restrict currency use in international trade. We develop a unified search-based framework with financial frictions to address the determinants for currency, emphasizing the roles of trade finance and financial market development, as well as macro, micro...