| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP966 |
| DP966 Cross-Section Estimation of the Matching Function: Evidence from England and Wales | |
| Eric Smith; Melvyn G Coles | |
| 发表日期 | 1994-05-31 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | A countertrade contract ties an export to an import. Usually, countertrade is seen as a form of bilateralism and reciprocity and thus as an inefficient form of international exchange. In this paper we argue that there are circumstances where the tying of two technologically unrelated trade flows may be efficiency enhancing. We show that countertrade can be seen as an efficient institution that solves moral hazard problems and restores creditworthiness of countries with large outstanding debt. We test the implications of our model using a sample of 230 countertrade contacts. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Countertrade Creditworthiness Double moral hazard problem Sovereign debt Technology transfer |
| URL | https://cepr.org/publications/dp966 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530103 |
| 推荐引用方式 GB/T 7714 | Eric Smith,Melvyn G Coles. DP966 Cross-Section Estimation of the Matching Function: Evidence from England and Wales. 1994. |
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