CIRJE-F-293 | "Credit Market Imperfections and Patterns of International Trade and Capital Flows" |
Author Name | Matsuyama, Kiminori |
Date | August 2004 |
Full Paper | PDF file@ |
Remarks | @Subsequently published in Journal of the European Economic Association, 3 (April-May 2005):714-723. |
Abstract |
In a world where credit relationships are subject to a variety of agency problems,
corporate governance, contractual enforcement, and the balance sheet condition of the
business sector are among many factors that can play an important role in the
allocation of resources. This paper offers two simple models to illustrate how these
factors can affect the patterns of international trade and capital flows in the presence of
credit market imperfections. |
|