Open AccessInnovative Financial Technologies To Facilitate Trade With Eastern Europe
Author(s) -
John B. White,
Morgan P. Miles,
Ellen Randall
Publication year - 2011
Publication title -
journal of applied business research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.149
H-Index - 22
eISSN - 2157-8834
pISSN - 0892-7626
DOI - 10.19030/jabr.v8i3.6150
Subject(s) - commodity , local currency , currency , business , goods and services , international trade , international economics , economics , commerce , emerging markets , market economy , finance , monetary economics
The European Economic Community is overshadowing the great market potential of the emerging, newly liberated Eastern Bloc countries. Entering these formerly communist markets is challenging because of a lack of sound economies and weak currencies. This paper develops a model whereby North American businesses enter these markets and accept local currencies for products and services, purchase local goods with the local currency and then sell these goods through international commodity exchanges.