Financial shocks and trade finance: Evidence from Korea
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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References listed on IDEAS
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- Mary Amiti & David E. Weinstein, 2011.
"Exports and Financial Shocks,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 126(4), pages 1841-1877.
- Auboin, Marc & Meier-Ewert, Moritz, 2003. "Improving the availability of trade finance during financial crises," WTO Discussion Papers 2, World Trade Organization (WTO), Economic Research and Statistics Division.
- Bijapur, Mohan, 2010. "Does monetary policy lose effectiveness during a credit crunch?," Economics Letters, Elsevier, vol. 106(1), pages 42-44, January.
- 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.
- Love, Inessa & Preve, Lorenzo A. & Sarria-Allende, Virginia, 2007. "Trade credit and bank credit: Evidence from recent financial crises," Journal of Financial Economics, Elsevier, vol. 83(2), pages 453-469, February.
- Chauffour, Jean-Pierre & Farole, Thomas, 2009. "Trade finance in crisis : market adjustment or market failure ?," Policy Research Working Paper Series 5003, The World Bank.
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