Bank loans, trade credit, and liquidity shortages of small businesses during the global financial crisis

Tsuruta, Daisuke

doi:10.1016/j.irfa.2023.102905

Cited by 3 publications

(1 citation statement)

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“…The course of economic performance in the countries of Indonesia, Thailand, Malaysia, the Philippines, and Singapore is increasingly crucial, with fluctuations in the performance of each macroeconomic liquidity variable in the form of Exports and Money Supply and the total value of Foreign Exchange Reserves for each country during the period between 1990 until 2019 (Kim et al, 2020;Tsuruta, 2023;Wang et al, 2023). Economic challenges such as the 1997 Asian Crisis and the 2008 Sub Prime Mortgage Crisis in the United States caused a decline in the performance of liquidity variables and the external sector in Asian countries, including Indonesia, Thailand, Malaysia, the Philippines, and Singapore.…”

Section: Introductionmentioning

confidence: 99%

Strengthening Foreign Reserve Exchange Through The Relationship Of Liquidity and Trade Variables: Evidence From Southeast Asian Selected Countries

Sunaryo

2023

IJSSR

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The recent years have witnessed intense debates on the enhancement of foreign exchange reserves' performance, yet the significance of this improvement for developing countries still needs to be answered. This study aims to investigate the connection and impact between money supply and exports on foreign exchange reserves in select Southeast Asian nations, namely Indonesia, Thailand, Malaysia, the Philippines, and Singapore. We utilised the Ordinary-Least Square (OLS) and Johansen Cointegration Test models to examine the effects of money supply and exports on foreign exchange reserves using annual data from 1990 to 2019 in these five ASEAN countries. Our findings indicate that, over the long term, money supply and exports exert a positive and substantial influence on the performance of foreign exchange reserves in these ASEAN countries. Our policy recommendation underscores the need for efforts aimed at bolstering foreign exchange reserves to prioritise the involvement of the respective governments in these selected ASEAN countries, both domestically and globally, through a series of collaborative initiatives designed to enhance foreign exchange reserves' performance.

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Section: Introductionmentioning

confidence: 99%

Strengthening Foreign Reserve Exchange Through The Relationship Of Liquidity and Trade Variables: Evidence From Southeast Asian Selected Countries

Sunaryo

2023

IJSSR

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Outside or inside the firm? The impact of debt financing on the exit routes of start-up firms

Honjo,

Iwaki,

Kato

2024

Small Bus Econ

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Bank credit to SMEs in Japan: Evidence from normal times, the global financial crisis, and the COVID-19 crisis

Tsuruta

2024

Pacific-Basin Finance Journal

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Bank loans, trade credit, and liquidity shortages of small businesses during the global financial crisis

Cited by 3 publications

References 63 publications

Strengthening Foreign Reserve Exchange Through The Relationship Of Liquidity and Trade Variables: Evidence From Southeast Asian Selected Countries

Strengthening Foreign Reserve Exchange Through The Relationship Of Liquidity and Trade Variables: Evidence From Southeast Asian Selected Countries

Outside or inside the firm? The impact of debt financing on the exit routes of start-up firms

Bank credit to SMEs in Japan: Evidence from normal times, the global financial crisis, and the COVID-19 crisis

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