Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/80063 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
WTO Staff Working Paper No. ERSD-2012-18
Verlag: 
World Trade Organization (WTO), Geneva
Zusammenfassung: 
Trade finance has received special attention during the financial crisis as one of the potential culprits for the great trade collapse. Several researchers have used micro level data to establish the link between trade finance and trade, especially so during the financial crisis, and have found diverting results. This paper analyses the effect of trade credit on trade on a macro level through a whole cycle. We employ Berne Union data on export credit insurance, the most extensive dataset on trade credits available at the moment, for the period of 2005-2011. Using an instrumentation strategy we can identify a significantly positive effect of insured trade credit, as a proxy for trade credits, on trade. The effect of insured trade credit on trade is very strong and remains stable over the cycle, not varying between crisis and non-crisis periods.
Schlagwörter: 
trade credit
financial crisis
import estimation
JEL: 
F13
F34
G21
G23
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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