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dc.contributor.authorSchmidt-Eisenlohr, Timen_US
dc.date.accessioned2011-05-25en_US
dc.date.accessioned2011-06-29T11:19:37Z-
dc.date.available2011-06-29T11:19:37Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/46465-
dc.description.abstractShipping goods internationally is risky and takes time. To allocate risk and to finance the time gap between production and sale, a range of payment contracts is utilized. I study the optimal choice between these payment contracts considering one shot transactions, repeated transactions and implications for trade. The equilibrium contract is determined by financial market characteristics and contracting environments in both the source and the destination country. Trade increases in enforcement probabilities and decreases in financing costs proportional to the time needed for trade. Empirical results from gravity regressions are in line with the model, highly significant and economically relevant.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Trade Policy 3414en_US
dc.subject.jelF12en_US
dc.subject.jelF30en_US
dc.subject.jelG21en_US
dc.subject.jelG32en_US
dc.subject.ddc330en_US
dc.subject.keywordtrade financeen_US
dc.subject.keywordpayment contractsen_US
dc.subject.keywordtrade patternsen_US
dc.subject.keyworddistance interactionen_US
dc.subject.stwAußenhandelsfinanzierungen_US
dc.subject.stwVertragstheorieen_US
dc.subject.stwAußenwirtschaften_US
dc.subject.stwAußenhandelsstrukturen_US
dc.subject.stwEntfernungen_US
dc.subject.stwKostenen_US
dc.subject.stwTheorieen_US
dc.titleTowards a theory of trade financeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn660176165en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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