Sangam: A Confluence of Knowledge Streams

Inter-Firm Trade Finance in Times of Crisis

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dc.creator C. Menichini, Anna Maria
dc.date 2012-03-19T19:13:35Z
dc.date 2012-03-19T19:13:35Z
dc.date 2009-11-01
dc.date.accessioned 2023-02-18T19:38:27Z
dc.date.available 2023-02-18T19:38:27Z
dc.identifier http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091104151418
dc.identifier http://hdl.handle.net/10986/4302
dc.identifier.uri http://localhost:8080/xmlui/handle/CUHPOERS/249802
dc.description The paper discusses the main features that distinguish inter-firm international trade finance from alternative sources of financing. On the one hand, inter-firm trade finance could help overcome informational problems associated with other lending relationships; on the other, it may contribute to propagate shocks due to the interconnection among firms along credit chains. The paper evaluates the potential effects of a financial crisis on the use of trade credit for firms operating in developing countries. It argues that while the advantages of trade credit might remain largely unexploited due to poor legal institutions, the disadvantages might be exacerbated because of these firms greater exposure to a default chain. Based on these arguments, a menu of choices is identified for what policymakers can do to boost firms access to inter-firm trade finance in times of crisis.
dc.language English
dc.relation Policy Research working paper ; no. WPS 5112
dc.rights CC BY 3.0 IGO
dc.rights http://creativecommons.org/licenses/by/3.0/igo/
dc.rights World Bank
dc.subject ACCESS TO CREDIT
dc.subject ACCESS TO FINANCE
dc.subject ACCESS TO FINANCING
dc.subject ACCOUNTS PAYABLE
dc.subject ACCOUNTS RECEIVABLE
dc.subject ACCOUNTS RECEIVABLES
dc.subject ADMINISTRATIVE BARRIERS
dc.subject ALTERNATIVE SOURCES OF FINANCING
dc.subject ASYMMETRIC INFORMATION
dc.subject BACKED FINANCING
dc.subject BALANCE SHEET
dc.subject BALANCE SHEETS
dc.subject BALANCE-SHEET
dc.subject BANK CREDIT
dc.subject BANK DEBT
dc.subject BANK POLICY
dc.subject BANKING SYSTEM
dc.subject BANKRUPT
dc.subject BANKRUPTCY
dc.subject BANKRUPTCY CODE
dc.subject BANKRUPTCY CODES
dc.subject BANKRUPTCY LAW
dc.subject BANKRUPTCY PROCEDURES
dc.subject BANKRUPTCY PROCESS
dc.subject BANKRUPTCY REGIME
dc.subject BANKRUPTCY REGIMES
dc.subject BORROWER
dc.subject BORROWING
dc.subject BORROWING CAPACITY
dc.subject BUSINESS CREDIT
dc.subject BUSINESS CYCLE
dc.subject BUSINESS LAW
dc.subject BUSINESS LAWS
dc.subject CASE OF DEFAULT
dc.subject CASH PAYMENTS
dc.subject CIVIL LAW
dc.subject CLAIM
dc.subject COLLATERAL
dc.subject COLLECT PAYMENT
dc.subject COMMERCIAL LENDING
dc.subject COMMERCIAL PAPER
dc.subject COMMON LAW
dc.subject COMMON LAW COUNTRIES
dc.subject COMPETITIVENESS
dc.subject CONSUMER CREDIT
dc.subject CONTRACT ENFORCEMENT
dc.subject CONTRACT LAW
dc.subject CONTRACTUAL RIGHTS
dc.subject CORPORATE FINANCE
dc.subject COST OF CREDIT
dc.subject COURT HEARING
dc.subject CREDIT AGENCIES
dc.subject CREDIT CHAIN
dc.subject CREDIT CHAINS
dc.subject CREDIT CONTRACTS
dc.subject CREDIT CRUNCH
dc.subject CREDIT DEFAULT
dc.subject CREDIT DEFAULTS
dc.subject CREDIT EXTENSION
dc.subject CREDIT EXTENSIONS
dc.subject CREDIT GUARANTEES
dc.subject CREDIT HISTORY
dc.subject CREDIT INCREASES
dc.subject CREDIT INFORMATION
dc.subject CREDIT LIMITS
dc.subject CREDIT MARKETS
dc.subject CREDIT RATINGS
dc.subject CREDIT RATIONING
dc.subject CREDIT REGISTRIES
dc.subject CREDIT RELATIONSHIP
dc.subject CREDIT RELATIONSHIPS
dc.subject CREDIT RISK
dc.subject CREDIT TERMS
dc.subject CREDITOR
dc.subject CREDITORS
dc.subject CREDITWORTHINESS
dc.subject CROSS-BORDER TRANSACTIONS
dc.subject CURRENCY
dc.subject CUSTOMER RELATIONSHIP
dc.subject DEBT
dc.subject DEBT COLLECTORS
dc.subject DEBT REPAYMENT
dc.subject DEBT REPAYMENTS
dc.subject DEBTOR
dc.subject DEBTORS
dc.subject DEBTS
dc.subject DEFAULTS
dc.subject DEVELOPING COUNTRIES
dc.subject DIFFERENT LEGAL SYSTEMS
dc.subject DISPUTE RESOLUTION
dc.subject DIVERSIFICATION
dc.subject ECONOMIC CRISIS
dc.subject EFFICIENT JUDICIAL SYSTEM
dc.subject EMERGING MARKET
dc.subject EMERGING MARKETS
dc.subject ENFORCEABILITY
dc.subject ENFORCEABILITY OF CONTRACTS
dc.subject ENFORCEABLE CONTRACT
dc.subject ENFORCEMENT OF CONTRACTS
dc.subject ENTREPRENEURS
dc.subject EQUIPMENT
dc.subject EQUITY CONVERSION
dc.subject ESTATE
dc.subject EVENT OF DEFAULT
dc.subject EXCHANGE RATE
dc.subject EXISTING CREDIT
dc.subject EXPLOITATION
dc.subject EXPORT FINANCING
dc.subject EXPORTER
dc.subject EXPORTERS
dc.subject EXPORTS
dc.subject EXPROPRIATION
dc.subject EXTENSIONS OF CREDIT
dc.subject FILING FOR BANKRUPTCY
dc.subject FINANCE CORPORATION
dc.subject FINANCIAL ASSETS
dc.subject FINANCIAL CONSTRAINTS
dc.subject FINANCIAL CRISIS
dc.subject FINANCIAL DIFFICULTIES
dc.subject FINANCIAL DISTRESS
dc.subject FINANCIAL HEALTH
dc.subject FINANCIAL INSTITUTION
dc.subject FINANCIAL INTERMEDIARIES
dc.subject FINANCIAL INTERMEDIATION
dc.subject FINANCIAL MARKETS
dc.subject FINANCIAL STATEMENTS
dc.subject FINANCIAL STUDIES
dc.subject FINANCIAL SUPPORT
dc.subject FINANCIAL SYSTEMS
dc.subject FINANCIER
dc.subject FINANCIERS
dc.subject FINANCING NEEDS
dc.subject FIRM FINANCING
dc.subject FLOW OF FUNDS
dc.subject FORMS OF CREDIT
dc.subject GLOBAL BUSINESS
dc.subject GLOBAL ECONOMY
dc.subject GOING CONCERN
dc.subject GOING CONCERN VALUE
dc.subject GOOD CREDIT
dc.subject GOVERNMENT GUARANTEES
dc.subject GUARANTOR
dc.subject INADEQUATE LAWS
dc.subject INEFFICIENT LIQUIDATION
dc.subject INFORMAL CREDIT
dc.subject INFORMATION SHARING
dc.subject INSOLVENCY
dc.subject INSOLVENCY PROCEEDINGS
dc.subject INSOLVENT
dc.subject INSTITUTIONAL FRAMEWORK
dc.subject INSTITUTIONAL REFORMS
dc.subject INSTRUMENT
dc.subject INSURANCE
dc.subject INTERNATIONAL BANK
dc.subject INTERNATIONAL FINANCE
dc.subject INTERNATIONAL TRADE
dc.subject INTERNATIONAL TRANSACTIONS
dc.subject INVENTORIES
dc.subject INVENTORY
dc.subject INVESTOR PROTECTION
dc.subject JUDICIAL EFFICIENCY
dc.subject JUDICIAL SYSTEM
dc.subject JUDICIAL SYSTEMS
dc.subject LEGAL ENVIRONMENTS
dc.subject LEGAL ORIGIN
dc.subject LEGAL ORIGINS
dc.subject LEGAL PROTECTION
dc.subject LEGAL SYSTEM
dc.subject LEGAL SYSTEMS
dc.subject LENDER
dc.subject LETTER OF CREDIT
dc.subject LETTERS OF CREDIT
dc.subject LIENS
dc.subject LIQUIDATION
dc.subject LIQUIDATION VALUE
dc.subject LIQUIDATIONS
dc.subject LIQUIDITY
dc.subject LIQUIDITY PROBLEMS
dc.subject LOAN
dc.subject MARKET FAILURE
dc.subject MARKET FAILURES
dc.subject MARKET PARTICIPANTS
dc.subject MARKET STRUCTURE
dc.subject MATURITY
dc.subject MATURITY PERIOD
dc.subject MONETARY FUND
dc.subject MONEY LENDING
dc.subject MORAL HAZARD
dc.subject NEGATIVE SHOCKS
dc.subject NEGOTIATION
dc.subject NONPAYMENT
dc.subject OLD CREDITORS
dc.subject ORDER OF PRIORITY
dc.subject PAYMENT TERMS
dc.subject POLITICAL ECONOMY
dc.subject POLITICAL RISKS
dc.subject PRIVATE BANKS
dc.subject PUBLIC CREDIT
dc.subject RECESSION
dc.subject REORGANIZATION
dc.subject REORGANIZATION PLAN
dc.subject REPAYMENT
dc.subject REPAYMENT HISTORY
dc.subject RISK OF INSOLVENCY
dc.subject SECONDARY MARKET
dc.subject SHORT-TERM FINANCING
dc.subject SHORT-TERM LENDING
dc.subject SHORT-TERM TRADE FINANCE
dc.subject SINGLE CREDITOR
dc.subject SUPPLY CHAIN
dc.subject SUPPLY CHAINS
dc.subject SUPPLY OF CREDIT
dc.subject SYSTEMIC CRISIS
dc.subject TERRORISM
dc.subject TRADE CREDIT
dc.subject TRADE CREDITORS
dc.subject TRADE FINANCE
dc.subject TRADE FINANCING
dc.subject TRADING
dc.subject TRANSACTION
dc.subject TRANSITION COUNTRIES
dc.subject UNIONS
dc.subject WORKING CAPITAL
dc.subject WORLD TRADE ORGANIZATION
dc.subject WTO
dc.title Inter-Firm Trade Finance in Times of Crisis
dc.type Publications & Research :: Policy Research Working Paper
dc.coverage The World Region
dc.coverage The World Region


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