Trade And Trade Finance In The 2008 20 L460609 Financial Crisis
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Trade And Trade Finance In The 2008 20 L460609 Financial Crisis
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Author : Mr. Thomas William Dorsey
language : en
Publisher: International Monetary Fund
Release Date : 2011-01-01
Trade And Trade Finance In The 2008 20 L460609 Financial Crisis written by Mr. Thomas William Dorsey and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.
Global merchandise trade sharply declined in late 2008 and early 2009, and some press and financial market reports assigned a large role for the decline to trade finance. However, the available evidence suggests that shocks to trade finance were not the major factor in the decline in trade. Surveys of commercial banks by the IMF and others found that while bank-intermediated trade finance fell in value during the crisis, it fell by less than merchandise trade. As a result, the share of world trade supported by bank-intermediated trade finance increased despite higher pricing margins. Other explanations appear to account for the bulk of the reduction in international trade.
Trade Finance During The Great Trade Collapse
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Author : Jean-Pierre Chauffour
language : en
Publisher: World Bank Publications
Release Date : 2011-06-22
Trade Finance During The Great Trade Collapse written by Jean-Pierre Chauffour and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-22 with Business & Economics categories.
On September 15, 2008, Lehman Brothers, the fourth largest U.S. investment bank filed for bankruptcy. Global credit markets tightened. Spreads skyrocketed. International trade plummeted by double digits. Banks were reportedly unable to meet the demand from their customers to finance their international trade operations, leaving a trade finance 'gap' estimated at around US$25 billion. Governments and international institutions felt compelled to intervene based on the information that some 80-90 percent of world trade relies on some form of trade finance. As the recovery unfolds, the time has come to provide policy makers and analysts with a comprehensive assessment of the role of trade finance in the 2008-09 great trade collapse and the subsequent role of governments and institutions to help restore trade finance markets. After reviewing the underpinning of trade finance and interfirm trade credit, 'Trade Finance during the Great Trade Collapse' aims to answer the following questions: - Was the availability and cost of trade finance a major constraint on trade during the 2008-09 global economic crisis? - What are the underpinnings and limits of national and international public interventions in support of trade finance markets in times of crisis? - How effective were the public and private sector mechanisms put in place during the crisis to support trade and trade finance? - To what extent have the new banking regulations under Basel II and Basel III exacerbated the trade finance shortfall during the crisis and in the post-crisis environment, respectively? 'Trade Finance during the Great Trade Collapse' is the product of a fruitful collaboration during the crisis among the World Bank Group, international financial partners, private banks, and academia. 'Trade is the lifeblood of the world economy, and the sharp collapse in trade volumes was one of the most dramatic consequences of the global financial crisis. It was the moment the financial crisis hit the real economy, and when parts of the world far from the epicenter of financial turbulence felt its full fury. This book is extremely timely and full of critical insights into the role of trade finance and the potential damaging impact from the unintended consequences of regulatory changes.' --Peter Sands, CEO, Standard Chartered Bank
Trade And Trade Finance In The 2008 09 Financial Crisis
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Author : Mr.Thomas William Dorsey
language : en
Publisher: International Monetary Fund
Release Date : 2011-01-01
Trade And Trade Finance In The 2008 09 Financial Crisis written by Mr.Thomas William Dorsey and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.
Global merchandise trade sharply declined in late 2008 and early 2009, and some press and financial market reports assigned a large role for the decline to trade finance. However, the available evidence suggests that shocks to trade finance were not the major factor in the decline in trade. Surveys of commercial banks by the IMF and others found that while bank-intermediated trade finance fell in value during the crisis, it fell by less than merchandise trade. As a result, the share of world trade supported by bank-intermediated trade finance increased despite higher pricing margins. Other explanations appear to account for the bulk of the reduction in international trade.