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dc.contributor.authorSchmidt-Eisenlohr, Timen
dc.date.accessioned2011-05-25-
dc.date.accessioned2011-06-29T11:19:37Z-
dc.date.available2011-06-29T11:19:37Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3414en
dc.subject.jelF12en
dc.subject.jelF30en
dc.subject.jelG21en
dc.subject.jelG32en
dc.subject.ddc330en
dc.subject.keywordtrade financeen
dc.subject.keywordpayment contractsen
dc.subject.keywordtrade patternsen
dc.subject.keyworddistance interactionen
dc.subject.stwAußenhandelsfinanzierungen
dc.subject.stwVertragstheorieen
dc.subject.stwAußenwirtschaften
dc.subject.stwAußenhandelsstrukturen
dc.subject.stwEntfernungen
dc.subject.stwKostenen
dc.subject.stwTheorieen
dc.titleTowards a theory of trade finance-
dc.typeWorking Paperen
dc.identifier.ppn660176165en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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