The Economic Institution of International Barter
Bibliographic Data
| ID | 9719309 |
|---|---|
| Authors | Dalia Marin (Ludwig-Maximilians-Universität München), Monika Schnitzer (0000-0002-6905-466X, Ludwig-Maximilians-Universität München) |
| Year | 2002 |
| Volume | 112 |
| Issue | 479 |
| Pages | 293-316 |
| Publication date | 2002-04-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/1468-0297.00035 |
| OpenAlex | W2096776282 |
| Language | EN |
| Citations received | 1 |
| References cited | 12 |
Starting with the international debt crisis in the early 1980s, the volume of international barter trade increased substantially. This paper examines how barter can help highly indebted countries to finance imports if they cannot use standard credit arrangements. We argue that payment in goods is easier to enforce than payment in money. But there is also a risk that the debtor pays with inferior quality products. We rank goods with respect to these incentive properties and derive the economic institution of commodity money which explains the trade pattern in barter. The predictions of our model are consistent with data on actual barter contracts.' (author's abstract))
Barter · Business · Commerce · Commodity · Economics · Incentive · Institution · International economics · Market economy · Microeconomics · Monetary economics · Payment · Banking stability, regulation, efficiency · Economic Theory and Policy · Finance · Global Financial Crisis and Policies
| Citations per year | 1 |
|---|---|
| Citation span | 2025 - 2025 (1) |
| Highly cited | No |