Academic interest in the role of trade finance has grown in the context of the financial crisis of 2008-09 and the subsequent economic downturn, just as policymakers’ interest was once caught by the Asian financial crisis (IMF 2003).
Why does finance matter for trade? Evidence from new data
Marc Auboin, Martina Engemann, 3 December 2012
International trade finance practices
Pol Antràs, C Fritz Foley, 29 July 2011
During the recent economic crisis, several practitioners claimed that financial constraints contributed to the large decline in global trade flows relative to gross domestic product. Some evidence collected in a survey conducted by the International Chamber of Commerce and in a survey conducted by the IMF and the Banker’s Association for Finance and Trade supported their claims.
The G20 mandate on fixing trade finance for low-income nations
Marc Auboin, 25 November 2010
Over the last year, a number of papers and studies have highlighted the impact of the global crisis on the availability of trade finance in global markets, and its spill-over effect on trade (Weinstein and Amiti 2009, Baldwin 2009).
The prudential treatment of trade finance under Basel III: For a fair treatment
Marc Auboin, 7 March 2010
There was a time when trade finance received favourable regulatory treatment. It was viewed as one of the safest, most collateralised, and self-liquidating forms of finance.
Export credit agencies to the rescue of trade finance
Jean-Pierre Chauffour, Christian Saborowski, 23 January 2010
New data on export insurance and guarantees suggest that export credit agencies (ECAs) have played an important role in preventing a complete drying up of trade finance markets during the current financial crisis.
Exports and financial shocks: New evidence from Japan
Mary Amiti, David E. Weinstein , 23 December 2009
One of the most striking features of the current crisis is the collapse in international trade – a fact highlighted by the recent Vox ebook.
Decline and gradual recovery of global trade financing: US and global perspectives
Jesse Mora, William M. Powers, 27 November 2009
The collapse of Lehman Brothers in September 2008 is widely viewed as the spark that triggered the global economic crisis – what has come to be known as the “Great Recession.” Global credit markets froze, and this may have affected the specialised financial instruments – letters of credit and the like – that help grease the gears of international trade finance.
Trade finance in crisis
Jean-Pierre Chauffour, Thomas Farole, 5 September 2009
By providing liquidity and security to facilitate the movement of goods and services, trade finance lies at the heart of the global trading system.
Banking crises and exports: Lessons from the past
Leonardo Iacovone, Veronika Zavacka, 1 September 2009
For most countries in the world, this is not a financial crisis – it is a trade crisis. For the first time since 1982, global trade flows will not grow. The latest IMF projections expect global trade in goods and services to drop 11% this year and stagnate next year.
The global financial crisis: A wake-up call for trade finance capacity building in emerging Asia
Wei Liu, Yann Duval, 19 June 2009
The current financial crisis has provided a useful reminder of how essential trade finance is to international trade.
- Secular stagnation: Facts, causes, and cures – a new Vox eBookTeulings, Baldwin
- Can large primary surpluses solve Europe’s debt problem?Eichengreen, Panizza
- The unrecognised benefits of grade inflationBoleslavsky, Cotton
- The US manufacturing base is surprisingly strongMoran, Oldenski
- Long-term damage of the US court’s Argentinian debt rulingFrankel
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche <