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Tying Trade Flows: A Theory of Countertrade with Evidence

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Author Info
Marin, Dalia
Schnitzer, Monika

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Abstract

A countertrade contract ties an export to an import. Usually, countertrade is criticized as a form of bilateralism and reciprocity and, thus, as an inefficient form of international exchange. In this paper, the authors argue that there are circumstances in which the tying of two technologically unrelated trade flows may be efficiency-enhancing. They show that countertrade can be an efficient institution in international trade that solves moral-hazard problems and restores creditworthiness of highly indebted countries. The authors test the implications of their model using a sample of 230 countertrade contracts. Copyright 1995 by American Economic Association.

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Publisher Info
Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 85 (1995)
Issue (Month): 5 (December)
Pages: 1047-64
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Handle: RePEc:aea:aecrev:v:85:y:1995:i:5:p:1047-64

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  1. Marin, Dalia, 2006. "A New International Division of Labour in Europe: Outsourcing and Offshoring to Eastern Europe," CEPR Discussion Papers 5447, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  2. Dalia Marin & Monika Schnitzer, 2002. "The Economic Institution Of International Barter," Economic Journal, Royal Economic Society, vol. 112(479), pages 293-316, April. [Downloadable!] (restricted)
    Other versions:
  3. Marin, Dalia, 2005. "A New International Division of Labor in Europe: Offshoring and Outsourcing to Eastern Europe," Discussion Papers in Economics 714, University of Munich, Department of Economics. [Downloadable!]
  4. Marin, Dalia & Schnitzer, Monika, 2006. "When is FDI a Capital Flow?," CEPR Discussion Papers 5755, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  5. Barbara, CRESTI, 2003. "U.S. Domestic Barter : an Empirical Investigation," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2003005, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]
  6. Sophie Brana & Mathilde Maurel, 1999. "Barter in Russia: Liquidity Shortage versus Lack of Restructuring," William Davidson Institute Working Papers Series 271, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  7. Matti Liski & Juha Virrankoski, 2004. "Frictions in Project-Based Supply of Permits," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 28(3), pages 347-365, July. [Downloadable!] (restricted)
  8. Barbara Cresti, 2005. "US domestic barter: an empirical investigation," Applied Economics, Taylor and Francis Journals, vol. 37(17), pages 1953-1966, September. [Downloadable!] (restricted)
  9. Canice Prendergast & Lars Stole, 2001. "Barter, Liquidity and Market Segmentation," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  10. Sergei Guriev & Dmitry Kvassov, 2000. "Price Discrimination Through Barter: A Theory and Evidence from Russia," Econometric Society World Congress 2000 Contributed Papers 0397, Econometric Society. [Downloadable!]
  11. Chong Ju Choi & Xeni Dassiou & Daniel Maldoom, 2003. "Trade and Linked Exchange; Price Discrimination Through Transaction Bundling," City University Economics Discussion Papers 03/07, Department of Economics, City University, London. [Downloadable!]
  12. Guido Friebel, 2000. "Why Russian Workers do not Move: Attachment of Workers through In-Kind Payments," Econometric Society World Congress 2000 Contributed Papers 1376, Econometric Society. [Downloadable!]
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  13. repec:bep:thetop:v:4:y:2004:i:1:p:1102-1102 is not listed on IDEAS
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