| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16630 |
| DP16630 International trade and letters of credit: A double-edged sword in times of crises | |
| Banu Demir; Matthieu Crozet; Beata Javorcik | |
| 发表日期 | 2021-10-13 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This study argues that the ability to mitigate risks associated with international trade is particularly important at times of heightened uncertainty, such as the economic crisis caused by the Covid-19 pandemic. Risk mitigation can be achieved through letters of credit (LCs), trade finance instruments providing guarantees to trading partners. As their use varies across products, exports of some products are more resilient than others during times of increased uncertainty. This situation reverses in times of financial crises when distressed banks may limit the supply of LCs. Our analysis using data on US and EU-15 exports during the Covid crisis and the Global Financial Crisis provides empirical support for these hypotheses. |
| 主题 | International Macroeconomics and Finance ; International Trade and Regional Economics |
| 关键词 | International trade Trade finance Letter of credit Risk Global financial crisis Covid-19 |
| URL | https://cepr.org/publications/dp16630 |
| 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/545572 |
| 推荐引用方式 GB/T 7714 | Banu Demir,Matthieu Crozet,Beata Javorcik. DP16630 International trade and letters of credit: A double-edged sword in times of crises. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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