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  1. Optimal payment contracts in trade relationships
    Erschienen: July 2020
    Verlag:  Verein für Socialpolitik, [Köln]

    We study a seller's trade credit provision decision in a situation of repeated contracting with incomplete information over the buyer's payment propensity when the enforceability of formal contracts is uncertain. The payment terms of a transaction... mehr

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    We study a seller's trade credit provision decision in a situation of repeated contracting with incomplete information over the buyer's payment propensity when the enforceability of formal contracts is uncertain. The payment terms of a transaction are selected in an inter-temporal trade-off between improving the quality of information acquisition and mitigating relationship breakdown risks. When contract enforcement institutions are weak, the optimal within-relationship provision dynamics of trade credit can be uniquely determined and depend on the share of patient buyers in the destination market as well as their access to liquidity. We obtain empirical evidence showing that in developing countries the relevance of trade credit in buyers' payment schedules has risen over-proportionally in recent years.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/224564
    Schriftenreihe: Jahrestagung 2020 / Verein für Socialpolitik ; 60
    Schlagworte: Payment contracts; Trade credit; Trade dynamics; Relational contracts; Weak institutions
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  2. Jumpstarting an international currency
    Erschienen: June 2020
    Verlag:  Bank of England, London

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    Sprache: Englisch
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    Schriftenreihe: Staff working paper / Bank of England ; no. 874
    Schlagworte: Trade credit; RMB internationalisation; swap lines
    Umfang: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  3. Trade credit, markups, and relationships
    Erschienen: 2020
    Verlag:  Board of Governors of the Federal Reserve System, [Washington, DC]

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    Schriftenreihe: International finance discussion papers ; number 1303 (September 2020)
    Schlagworte: Trade credit; markups; nancial intermediation; learning
    Umfang: 1 Online-Ressource (circa 74 Seiten), Illustrationen
  4. The role of regulation and bank competition in small firm financing
    evidence from the Community Reinvestment Act
    Erschienen: [2022]
    Verlag:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

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    Schriftenreihe: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 22, 06 (February 2022)
    Schlagworte: Competition; Regulation; Trade credit; Small business loans
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  5. The signalling role of trade credit on loan contracts
    evidence from a counterfactual analysis
    Erschienen: novembre 2021
    Verlag:  Arkadia, Cagliari

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9788868513733
    Auflage/Ausgabe: Prima edizione
    Schriftenreihe: Working papers / CRENoS ; 2021, 06
    Schlagworte: Trade credit; Signalling; Endogenous Switching Regression; Bank Credit; asymmetric information
    Umfang: 1 Online-Ressource (circa 37 Seiten)
  6. What determines interfirm trade credit?
    empirical evidence from the ASEAN
    Erschienen: August 2022
    Verlag:  Economic Research Institute for ASEAN and East Asia, [Jakarta]

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    Schriftenreihe: ERIA discussion paper series ; ERIA-DP-2022-03 = no. 432
    Schlagworte: Trade credit; Credit constraints; Small and medium enterprises; ASEAN; Global value chains
    Umfang: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  7. Cross-sector interactions in Western Europe
    lessons from trade credit data
    Autor*in: London, Melina
    Erschienen: [2022]
    Verlag:  [Aix-Marseille School of Economics], [Aix-en-Provence

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    Schriftenreihe: Working papers / AMSE, Aix-Marseille School of Economics ; WP 2022, nr 12
    Schlagworte: Trade credit; Network; Cross-Sector Financial Interdependencies
    Umfang: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  8. A novel framework to evaluate changes in access to and costs of trade finance
    Erschienen: 23 January 2023
    Verlag:  World Trade Organization, Economic Research and Statistics Division, [Geneva]

    In this paper we integrate the costs of trade finance in a computable general equilibrium (CGE) model to evaluate the trade and output effects of counterfactual policy experiments on costs of and access to trade finance. The costs of financing... mehr

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    In this paper we integrate the costs of trade finance in a computable general equilibrium (CGE) model to evaluate the trade and output effects of counterfactual policy experiments on costs of and access to trade finance. The costs of financing international trade consist of two components: the financial costs and the costs associated with the risk of goods not being delivered, considering risk aversion of traders. These costs are determined for four ways to finance international trade (cash-in-advance, trade loans, letters of credit, and exports financed with internal working capital). Trade finance costs are a weighted average of the costs under the four different ways of financing. The framework is applied to trade of four ECOWAS countries employing data collected on financial costs, costs of risk and trade finance instrument shares through a comprehensive bank survey in these countries complemented with data from the literature. Counterfactual experiments on increases in the availability of letters of credit and trade loans and the costs of these instruments show that raising the shares and costs to African averages would increase trade of the four ECOWAS countries by about 11%. The framework is generic and can be applied to other countries.

     

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
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    Weitere Identifier:
    hdl: 10419/268611
    Auflage/Ausgabe: Manuscript date: December 2022
    Schriftenreihe: Staff working paper ; ERSD-2023, 01
    Schlagworte: Trade credit; international trade; financial institutions; general equilibrium simulations
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  9. Does trade credit absorb adverse shocks?
    Erschienen: [2021]
    Verlag:  RIETI, [Tokyo, Japan]

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    Schriftenreihe: RIETI discussion paper series ; 21-E, 089 (November 2021)
    Schlagworte: Trade credit; Shock; Transmission; Bank loans; Deep pocket
    Umfang: 1 Online-Ressource (circa 44 Seiten)
  10. Supply-chain finance
    an empirical evaluation of supplier outcomes
    Erschienen: May 2024
    Verlag:  Sveriges Riksbank, Stockholm

    Buyers and suppliers have diverging interests about trade-credit maturities: buyers desire long payment periods as a source of cheap funding, while suppliers prefer swift payments to avoid locking up scarce liquidity in idle assets. A fast-growing... mehr

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    Buyers and suppliers have diverging interests about trade-credit maturities: buyers desire long payment periods as a source of cheap funding, while suppliers prefer swift payments to avoid locking up scarce liquidity in idle assets. A fast-growing financial product innovation - supply-chain finance (SCF) - offers to resolve these diverging interests, but its net effect on suppliers is a priori unclear. We study the effects of SCF programs on suppliers using unique invoice-level data from a large Swedish bank. We find that SCF programs relax suppliers' liquidity constraints and thereby enable them to grow their sales, employment, and investments.

     

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    Schriftenreihe: Sveriges Riksbank working paper series ; 435
    Schlagworte: Trade credit; supply-chain finance; reverse factoring; financial constraints
    Umfang: 1 Online-Ressource (circa 37 Seiten), Illustrationen