This paper shows that there are endogenous financial constraints arising from trade liberalization. Banks with a large share of loans on firms exposed to competition China suffer an increase in non-performing and reduce their credit capacity. The drop supply affects both directly import-competition China, firm expected expand upon liberalization, economically relevant implications terms employm...

This paper explores a financial role of Japanese general trading companies (GTCs), which act as a central point in a distribution network among group firms. I examine Meltzer’s conjecture, which holds that financially strong companies like GTCs increase trade receivables and reduce trade payables to shield their trading partners from a monetary squeeze. First, I investigate the trade credit gra...

We analyze the impact of trade liberalization and removal of the federal tax credit in the United States on ethanol markets using a multimarket international ethanol model. We find that U.S. trade barriers have been effective in protecting the ethanol industry. Under current policy, there is separability of the U.S. ethanol market from world markets. With trade liberalization, the ethanol marke...

In this article, I try to find out what are the effects of financial variablessuch as ratio of private sector deposits to GDP and ratio of bank credit toprivate sector to GDP and value of stocks trade in Tehran stockexchange to total current value of stocks and private sector liquidity toGDP on total investment.We use two models to test our hypothesis the first is a model for Iranand the second...

A modern distribution network design model needs to deal with the trade-offs between a variety of factors, including 1) location and associated (fixed) operating cost of Distribution Centers (DCs) as well as their contribution to total transportation cost; and 2) holding and fixed ordering costs at DCs and retail outlets, in order to minimize the costs of managing the cycle stocks. In addition,...

In today’s competitivemarkets, most firms in United Kingdom and United States offer their products on trade credit to stimulate sales and reduce inventory. Trade credit is calculated based on time value of money on the purchase cost (i.e., discounted cash flow analysis). Recently, many researchers use discounted cash flow analysis only on the purchase cost but not on the revenue (which is signi...