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Financial shocks and trade finance: Evidence from Korea

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  • Hwang, Sangyeon
  • Im, Hyejoon

Abstract

Using two novel measures of bank-intermediated trade finance in Korea, this paper empirically assesses the effects of financial shocks on the availability of trade finance and finds that these effects are generally negative and last for at least three months, implying significant delays and losses for traders.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 120 (2013)
Issue (Month): 1 ()
Pages: 104-107

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Handle: RePEc:eee:ecolet:v:120:y:2013:i:1:p:104-107

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Trade finance; Financial crisis; Foreign trade loan; Documentary bill;

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  1. Chauffour, Jean-Pierre & Farole, Thomas, 2009. "Trade finance in crisis : market adjustment or market failure ?," Policy Research Working Paper Series 5003, The World Bank.
  2. Bijapur, Mohan, 2010. "Does monetary policy lose effectiveness during a credit crunch?," Economics Letters, Elsevier, vol. 106(1), pages 42-44, January.
  3. Amiti, Mary & Weinstein, David E., 2009. "Exports and Financial Shocks," CEPR Discussion Papers 7590, C.E.P.R. Discussion Papers.
  4. Love, Inessa & Preve, Lorenzo A. & Sarria-Allende, Virginia, 2005. "Trade credit and bank credit : evidence from recent financial crises," Policy Research Working Paper Series 3716, The World Bank.
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