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Financial shocks and trade finance: Evidence from Korea

  • Hwang, Sangyeon
  • Im, Hyejoon

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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File URL: http://www.sciencedirect.com/science/article/pii/S0165176513001766
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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
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Mary Amiti & David E. Weinstein, 2011. "Exports and Financial Shocks," The Quarterly Journal of Economics, Oxford University Press, vol. 126(4), pages 1841-1877.
  2. Chauffour, Jean-Pierre & Farole, Thomas, 2009. "Trade finance in crisis : market adjustment or market failure ?," Policy Research Working Paper Series 5003, The World Bank.
  3. Bijapur, Mohan, 2010. "Does monetary policy lose effectiveness during a credit crunch?," Economics Letters, Elsevier, vol. 106(1), pages 42-44, January.
  4. 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.
  5. 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.
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