Transparent motives: democratic advantage in international credit markets

2017 ◽  
Vol 20 (1) ◽  
pp. 108-132 ◽  
Author(s):  
Yong Kyun Kim ◽  
Daniel C O’Neill
Keyword(s):  
Credit Markets ◽  
International Credit ◽  
Democratic Advantage

scholarly journals International credit markets and global business cycles

2018 ◽  
Vol 15 (1) ◽  
pp. 53-75
Author(s):  
Patrick A. Pintus ◽  
Yi Wen ◽  
Xiaochuan Xing
Keyword(s):  
Business Cycles ◽  
Credit Markets ◽  
Global Business ◽  
International Credit

Economic coercion and the problem of sanctions-proofing

2018 ◽  
Vol 37 (4) ◽  
pp. 385-408 ◽  
Author(s):  
Menevis Cilizoglu ◽  
Navin A Bapat
Keyword(s):  
Interest Rates ◽  
Credit Markets ◽  
Credit Ratings ◽  
Economic Costs ◽  
High Interest ◽  
International Credit ◽  
Economic Coercion ◽  
Target States ◽  
Borrowing Cost ◽  
Do So

Although sanctions generate economic costs, target states may “sanctions-proof” their regime by borrowing capital from abroad. While some targets obtain interest-free capital from black knight states, others may need to borrow with interest from international credit markets. These interest rates may sometimes make borrowing cost-prohibitive, giving targets no choice but to acquiesce to the demands of the sender. However, since senders cannot observe if black knight states are assisting target states, targets have an incentive to misrepresent their source of external capital. In an effort to deter sanctions, targets that must borrow at high interest rates may signal that they have black knight support and are sanctions-proofed. We formally and empirically demonstrate that in this uncertain environment, senders are more likely to impose sanctions on targets with low credit ratings, but only do so if the target places a relatively low value on uninterrupted economic transactions with the sender.

International credit market integration in northwestern Europe in the 1670s

2019 ◽  
Vol 26 (2) ◽  
pp. 127-145
Author(s):  
Ling-Fan Li
Keyword(s):  
Exchange Rate ◽  
Transaction Cost ◽  
Financial Market ◽  
Market Integration ◽  
Credit Markets ◽  
Credit Market ◽  
Disruptive Effect ◽  
Speed Of Adjustment ◽  
Financial Market Integration ◽  
International Credit

This article studies the financial market integration in the 1670s by examining the effectiveness of triangular exchange arbitrage. The results suggest that international credit markets based on bills of exchange in northwestern Europe were well integrated and responded to exchange-rate differences quickly. The speed of adjustment, ranging between one and three weeks, accorded with the speed of communication, but the transaction cost associated with exchange arbitrage was much lower than that of shipping bullion. Although warfare had a disruptive effect on exchange arbitrage by increasing transaction cost, markets were resilient in remaining efficient.

scholarly journals International Credit Markets and Global Business Cycles

2018 ◽  
Author(s):  
Yi Wen ◽  
Xiaochuan Xin ◽  
Patrick A. Pintus
Keyword(s):  
Business Cycles ◽  
Credit Markets ◽  
Global Business ◽  
International Credit

INTERACTION OF THE NATIONAL ECONOMY OF UKRAINE WITH INTERNATIONAL CREDIT AND FINANCIAL ORGANIZATIONS

2017 ◽  
Author(s):  
Serhii Voitko ◽  
◽  
Yuliia Borodinova ◽  
Keyword(s):  
Financial Institutions ◽  
National Economy ◽  
Financial Support ◽  
Global Economy ◽  
Financial Sector ◽  
Negative Consequences ◽  
International Financial Institutions ◽  
The Future ◽  
International Credit

The article examines the interaction of the national economy of Ukraine with international credit and financial organizations, evaluates the positive and negative consequences and identifies possible areas for further cooperation. The role of international credit and financial organizations in the development of the global economy is analyzed. Today, international financial institutions have taken a leading place among institutions that provide financial support and contribute to the implementation of necessary reforms aimed at developing enterprises in various sectors of the economy and strengthening the country's financial sector as a whole. The importance of cooperation between Ukraine and international financial institutions for the development of the country's economy has been determined. The problems and directions of development of cooperation with leading credit and financial organizations in modern conditions are identified. Despite the presence of certain shortcomings, cooperation between Ukraine and international credit and financial organizations will continue in the future.

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