| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1172 |
| DP1172 Currency Unions, Economic Fluctuations and Adjustment: Some Empirical Evidence | |
| Tamim Bayoumi; Eswar Prasad | |
| 发表日期 | 1995-05-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | In the aftermath of the international debt crisis of the 1980s reciprocal trade arrangements experienced a resurgence. This paper examines how countertrade can help highly indebted countries to finance imports if they are not able to use standard credit arrangements. It compares the credit enforcement mechanisms discussed by the sovereign debt literature with those available under countertrade agreements and shows under what conditions countertrade can increase the debt capacity of highly indebted countries. The implications of our model for the design of optimal countertrade contracts are consistent with empirical evidence from a data set of 230 countertrade transactions. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Countertrade Creditworthiness Sovereign debt |
| URL | https://cepr.org/publications/dp1172 |
| 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/530315 |
| 推荐引用方式 GB/T 7714 | Tamim Bayoumi,Eswar Prasad. DP1172 Currency Unions, Economic Fluctuations and Adjustment: Some Empirical Evidence. 1995. |
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