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Trade and Trade Finance in the 2008-09 Financial Crisis
Mr.Thomas William Dorsey
Mika Saito
Mrs.Armine Khachatryan
Ms.Irena Asmundson
Ioana Niculcea
出版
International Monetary Fund
, 2011-01-01
主題
Business & Economics / Exports & Imports
Business & Economics / Banks & Banking
ISBN
1455212504
9781455212507
URL
http://books.google.com.hk/books?id=_pUYEAAAQBAJ&hl=&source=gbs_api
EBook
SAMPLE
註釋
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.