European Parliament Library

Trade and Trade Finance in the 2008-09 Financial Crisis, Thomas Dorsey, Mika Saito, Armine Khachatryan, Irena Asmundson, Ioana Niculcea

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
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; Executive Summary; I. Introduction; II. Trade and Financial Market Developments in 2008-09; A. International Trade; 1a. Growth Rates of Merchandise Exports; 1b. Merchandise Trade Index; B. Financial Markets; 2. Global Funding Pressure; 3a. 3-Month LIBOR Spreads to Overnight Index Swap (OIS); 3b. Emerging Markets: External Debt Market Spreads; 4. United States. and Euro Area Loans; 5. US Commercial Paper: Outstanding Amounts; 6. Asset-Backed Securities Deal Proceeds; 7. Merril Lynch ABS Master Index, Fixed Rate
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (86 p.)
Specific Material Designation
Form Of Item

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