Why does finance matter for trade? Evidence from new data

Marc Auboin, Martina Engemann, 3 December 2012

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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).

Topics: International trade
Tags: financial crisis, Great Recession, international trade, trade, trade credit, Trade finance, trade insurance

International trade finance practices

Pol Antràs, C Fritz Foley, 29 July 2011

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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.

Topics: International trade
Tags: great trade collapse, poultry, Trade finance

The G20 mandate on fixing trade finance for low-income nations

Marc Auboin, 25 November 2010

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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).

Topics: Global crisis, International trade
Tags: G20, Trade finance, WTO

The prudential treatment of trade finance under Basel III: For a fair treatment

Marc Auboin, 7 March 2010

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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.

Topics: International trade
Tags: Basel II, global crisis, Trade finance

Export credit agencies to the rescue of trade finance

Jean-Pierre Chauffour, Christian Saborowski, 23 January 2010

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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.

Topics: Global crisis, International trade
Tags: trade collapse, Trade finance, trade insurance

Exports and financial shocks: New evidence from Japan

Mary Amiti, David E. Weinstein , 23 December 2009

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One of the most striking features of the current crisis is the collapse in international trade – a fact highlighted by the recent Vox ebook.

Topics: Global crisis, International trade
Tags: financial crises, trade collapse, Trade finance

Decline and gradual recovery of global trade financing: US and global perspectives

Jesse Mora, William M. Powers, 27 November 2009

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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.

Topics: International trade
Tags: great trade collapse, trade credit, Trade finance, US trade collapse

Trade finance in crisis

Jean-Pierre Chauffour, Thomas Farole, 5 September 2009

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By providing liquidity and security to facilitate the movement of goods and services, trade finance lies at the heart of the global trading system.

Topics: International trade
Tags: crisis, Trade finance

Banking crises and exports: Lessons from the past

Leonardo Iacovone, Veronika Zavacka, 1 September 2009

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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.

Topics: International trade
Tags: banking crises, Trade finance

The global financial crisis: A wake-up call for trade finance capacity building in emerging Asia

Wei Liu, Yann Duval, 19 June 2009

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The current financial crisis has provided a useful reminder of how essential trade finance is to international trade.

Topics: International trade
Tags: crisis, emerging Asia, Trade finance