"تأثیر ریسک کشورها در انتخاب ابزار مالی برای تجارت بین‌الملل"

نوع مقاله : علمی

نویسندگان

1 دانشجوی دکتری گروه اقتصاد، واحد فیروزکوه، دانشگاه آزاد اسلامی، فیروزکوه، ایران

2 نویسنده مسئول، دانشیار گروه اقتصاد، دانشکده علوم انسانی، واحد فیروزکوه، دانشگاه آزاد اسلامی ، فیروزکوه، ایران

3 دانشیار گروه اقتصاد، دانشکده علوم اجتماعی و اقتصاد، دانشگاه الزهرا، تهران، ایران

چکیده

بازرگانان برای انجام تجارت بین­الملل از ابزارهای مختلف مالی استفاده می­کنند، که پرکاربردترین آن­ها عبارتند از اعتبار اسنادی، حواله نقدی و حساب باز. انتخاب هر یک از این ابزارها توسط بازرگانان به میزان ریسک کشورهای مبدأ و مقصد بستگی دارد. یکی از مهم­ترین معیارها برای سنجش ریسک کشورها، شاخص حاکمیت قانون است. در این تحقیق تأثیر حاکمیت قانون به عنوان معیاری برای سنجش ریسک کشورها بر نوع ابزار مالی مورد استفاده در تجارت بین­الملل برآورد شده­است. برای این منظور از داده­های واردات ایران از 79 کشور طی سال­های 1396-1393 استفاده شده و با بهره­گیری از مدل اقتصاد­سنجی داده­های تلفیقی اثر مذکور برآورد شده­است. نتایج این تحقیق نشان داد که بازرگانان برای تجارت با کشورهایی که دارای ریسک پایین هستند از ابزار اعتبار ­اسنادی کمتر استفاده می­کنند. با افزایش ریسک کشورها، استفاده از ابزار اعتبار اسنادی افزایش می­یابد اما این رابطه به صورت خطی نیست، به طوری که بازرگانان در انجام تجارت با کشورهایی که ریسک بالا دارند نیز از اعتبار اسنادی کمتر استفاده می­کنند.

کلیدواژه‌ها


عنوان مقاله [English]

"The effect of countries' risk on the choice of financial instruments for international trade"

نویسندگان [English]

  • Farzaneh Sadeghi 1
  • Saleh Ghavidel 2
  • Mirhossein Mousavi 3
1 Ph.D. Student,, Firozkuh Branch, Islamic Azad University, Iran
2 corresponding Author, Department of Economics, Islamic Azad University, Firoozkuh Branch, Firoozkooh,
3 Associate professor, Department of Economics. Alzahra University. Tehran, Iran
چکیده [English]

Countries' risk in choosing the type of finance products in international trade is important. Firms can buy special trade finance products from banks, the most common of which are letter of credit (LC), cash in advance (CA) and open account (OA). Based on import’s data of Iran from 79 countries during the years of 1393-1396 and using the panel data econometric model, this paper explores the effect of rule of law in origin and destination as a measure of countries' risk on choice of finance products in international trade. The countries are divided into three groups: low risk, medium risk and high risk. The results in this study showed that. Letters of credit are employed the most for export to countries with intermediate rule of law (contract enforcement), and they are used for riskier destination than cash in advances. As countries' risk increases, the use of letter of credit increases, but this relationship is not linear, so firms use less letter of credit with high-risk countries and use more open account. In other words, the effect of countries' risk or the rule of law index on employed the "letter of credit" as one of the important finance products is "hill-shaped".

کلیدواژه‌ها [English]

  • Letter of Credit
  • Rule of Law
  • International Trade
  • Trade Risk
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