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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
International Finance Discussion Papers: Trade Credit and International Trade During the 2008-09 Global Financial Crisis

International Finance Discussion Papers: Trade Credit and International Trade During the 2008-09 Global Financial Crisis

Coulibaly, Brahima
United States Federal Reserve Board
Et Al

Paperback

General Political Science

ISBN10: 1288724683
ISBN13: 9781288724680
Publisher: Bibliogov
Published: Feb 6 2013
Pages: 40
Weight: 0.20
Height: 0.08 Width: 7.44 Depth: 9.69
Language: English
This paper studies the role of the credit crunch in the severe contraction of economic activity during the 2008-09 global financial crisis, using firm-level data from six emerging Asian economies. After controlling for the effect of falling demand, we find that sales declined by less for firms with better pre-crisis financial conditions. Amid the decline in external financing opportunities, some firms relied more on trade credit from suppliers during the crisis, which allowed them to post relatively better sales. Export-intensive firms resorted less to trade credit as an alternative source of finance, which contributed to their larger declines in sales.

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