Poultry in Motion: A Study of International Trade Finance Practices

被引:164
作者
Antras, Pol [1 ,2 ]
Foley, C. Fritz [1 ,2 ]
机构
[1] Harvard Univ, Cambridge, MA 02138 USA
[2] Natl Bur Econ Res, Cambridge, MA 02138 USA
关键词
INCOMPLETE CONTRACTS; CREDIT CONSTRAINTS; FIRMS; COLLAPSE; TERMS; FLOWS;
D O I
10.1086/681592
中图分类号
F [经济];
学科分类号
020101 [政治经济学];
摘要
This paper theoretically and empirically analyzes the financing terms that support international trade. The choice of trade finance terms balances the risk that an importer defaults on an exporter and the possibility that an exporter does not deliver goods as specified. Analysis of transaction-level data from a US exporter reveals that importers located in countries with weak enforcement of contracts typically finance transactions, but these firms are able to overcome the constraints of such environments if they can establish a relationship with the exporter. Furthermore, the manner in which trade is financed shapes the impact of crises.
引用
收藏
页码:853 / 901
页数:49
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