Trade Finance during the 2008–9 Trade Collapse : Key Takeaways

Trade finance matters for trade, and when financial markets and world trade collapsed three years ago, a shortage in trade finance was hailed as a possible culprit. Because of the potential for global repercussions, world leaders called on the inte...

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Main Authors:	Chauffour, Jean-Pierre, Malouche, Mariem
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ADVERSE EFFECTS AFFORDABLE COST BANK INTERMEDIATION BANKING REGULATIONS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEMS BANKS CAPITAL BASE CAPITAL REQUIREMENTS CASH DEPOSITS CASH FLOW CASH RESERVES CENTRAL BANKS CHAMBER OF COMMERCE COLLATERAL COLLECTIVE ACTIONS COMMERCIAL BANKS COMMODITIES COMMODITY COMMODITY EXPORTS COMMODITY PRICES COST OF FUNDS COUNTRY MARKETS CREDIT AGENCIES CREDIT AVAILABILITY CREDIT LINES CREDITWORTHINESS CUSTOMER RELATIONS CUSTOMER RELATIONSHIPS DEFAULT RISK DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DIRECT FINANCING DOMESTIC ECONOMIES ECONOMIC INTEGRATION ECONOMIC POLICY ELIGIBILITY CRITERIA EMERGING ECONOMIES EMERGING MARKETS ENFORCEMENT SYSTEMS EXPORT CREDIT EXPORT CREDIT INSURANCE EXPORT FINANCE EXPORT MARKETS EXPORTER EXPORTERS EXPOSURES FINANCE CONSTRAINTS FINANCE CORPORATION FINANCE INITIATIVE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL MEANS FINANCIAL RESOURCES FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FORMS OF CREDIT GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT ACTIONS GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS HOME COUNTRY INCOME INCOME LEVELS INSURANCE INTERNATIONAL BANKING INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INVESTMENT FINANCE INVESTMENT FUNDS LACK OF ACCESS LACK OF FINANCE LETTERS OF CREDIT LIQUIDITY LIQUIDITY CRISIS LOAN LOCAL BANKS LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET FAILURE MARKET SHARE MARKET SHARES MATURITY MIDDLE-INCOME COUNTRIES MISSING MARKETS MONETARY FUND MORAL HAZARD MULTINATIONAL NEW ENTRANTS OUTPUT PORTFOLIO PORTFOLIO EXPOSURE PORTFOLIOS PRICE VOLATILITY PRIVATE BANKS PRUDENTIAL REQUIREMENTS REAL SECTOR RECESSION REGIONAL DEVELOPMENT BANKS REGIONAL TRADE REGULATORS RISK AVERSION RISK MANAGEMENT RISK PREMIUMS SELF-FINANCING SHARE OF WORLD TRADE STRUCTURAL PROBLEMS SUPPLY CHAIN SUPPLY CHAINS TRADE CREDIT TRADE FACILITATION TRADE FINANCE TRADE FLOWS TRADING TRANSPARENCY UNDERDEVELOPED FINANCIAL SYSTEMS UNDERWRITERS UNION WORKING CAPITAL WORLD ECONOMY WORLD TRADE
Online Access:	http://documents.worldbank.org/curated/en/2011/09/15165991/trade-finance-during-2008-9-trade-collapse-key-takeaways http://hdl.handle.net/10986/10077

id	okr-10986-10077
recordtype	oai_dc
spelling	okr-10986-100772021-04-23T14:02:48Z Trade Finance during the 2008–9 Trade Collapse : Key Takeaways Chauffour, Jean-Pierre Malouche, Mariem ADVERSE EFFECTS AFFORDABLE COST BANK INTERMEDIATION BANKING REGULATIONS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEMS BANKS CAPITAL BASE CAPITAL REQUIREMENTS CASH DEPOSITS CASH FLOW CASH RESERVES CENTRAL BANKS CHAMBER OF COMMERCE COLLATERAL COLLECTIVE ACTIONS COMMERCIAL BANKS COMMODITIES COMMODITY COMMODITY EXPORTS COMMODITY PRICES COST OF FUNDS COUNTRY MARKETS CREDIT AGENCIES CREDIT AVAILABILITY CREDIT LINES CREDITWORTHINESS CUSTOMER RELATIONS CUSTOMER RELATIONSHIPS DEFAULT RISK DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DIRECT FINANCING DOMESTIC ECONOMIES ECONOMIC INTEGRATION ECONOMIC POLICY ELIGIBILITY CRITERIA EMERGING ECONOMIES EMERGING MARKETS ENFORCEMENT SYSTEMS EXPORT CREDIT EXPORT CREDIT INSURANCE EXPORT FINANCE EXPORT MARKETS EXPORTER EXPORTERS EXPOSURES FINANCE CONSTRAINTS FINANCE CORPORATION FINANCE INITIATIVE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL MEANS FINANCIAL RESOURCES FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FORMS OF CREDIT GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT ACTIONS GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS HOME COUNTRY INCOME INCOME LEVELS INSURANCE INTERNATIONAL BANKING INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INVESTMENT FINANCE INVESTMENT FUNDS LACK OF ACCESS LACK OF FINANCE LETTERS OF CREDIT LIQUIDITY LIQUIDITY CRISIS LOAN LOCAL BANKS LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET FAILURE MARKET SHARE MARKET SHARES MATURITY MIDDLE-INCOME COUNTRIES MISSING MARKETS MONETARY FUND MORAL HAZARD MULTINATIONAL NEW ENTRANTS OUTPUT PORTFOLIO PORTFOLIO EXPOSURE PORTFOLIOS PRICE VOLATILITY PRIVATE BANKS PRUDENTIAL REQUIREMENTS REAL SECTOR RECESSION REGIONAL DEVELOPMENT BANKS REGIONAL TRADE REGULATORS RISK AVERSION RISK MANAGEMENT RISK PREMIUMS SELF-FINANCING SHARE OF WORLD TRADE STRUCTURAL PROBLEMS SUPPLY CHAIN SUPPLY CHAINS TRADE CREDIT TRADE FACILITATION TRADE FINANCE TRADE FLOWS TRADING TRANSPARENCY UNDERDEVELOPED FINANCIAL SYSTEMS UNDERWRITERS UNION WORKING CAPITAL WORLD ECONOMY WORLD TRADE Trade finance matters for trade, and when financial markets and world trade collapsed three years ago, a shortage in trade finance was hailed as a possible culprit. Because of the potential for global repercussions, world leaders called on the international community to act swiftly to avoid a depression. Governments and international institutions intervened to mitigate the impacts of the crisis. Then the economy bounced back, and trade picked up. But what did we learn from the crisis? In retrospect, what role did trade finance actually play? Did the freeze in the financial markets cause the unprecedented drop in global trade in 2008-9? This note presents evidence on the role of trade finance during 2008-9 and highlights a few takeaways on the data and knowledge gap of trade finance and government interventions during financial crises. 2012-08-13T10:21:12Z 2012-08-13T10:21:12Z 2011-09-01 http://documents.worldbank.org/curated/en/2011/09/15165991/trade-finance-during-2008-9-trade-collapse-key-takeaways http://hdl.handle.net/10986/10077 English Economic Premise; No. 66 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ADVERSE EFFECTS AFFORDABLE COST BANK INTERMEDIATION BANKING REGULATIONS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEMS BANKS CAPITAL BASE CAPITAL REQUIREMENTS CASH DEPOSITS CASH FLOW CASH RESERVES CENTRAL BANKS CHAMBER OF COMMERCE COLLATERAL COLLECTIVE ACTIONS COMMERCIAL BANKS COMMODITIES COMMODITY COMMODITY EXPORTS COMMODITY PRICES COST OF FUNDS COUNTRY MARKETS CREDIT AGENCIES CREDIT AVAILABILITY CREDIT LINES CREDITWORTHINESS CUSTOMER RELATIONS CUSTOMER RELATIONSHIPS DEFAULT RISK DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DIRECT FINANCING DOMESTIC ECONOMIES ECONOMIC INTEGRATION ECONOMIC POLICY ELIGIBILITY CRITERIA EMERGING ECONOMIES EMERGING MARKETS ENFORCEMENT SYSTEMS EXPORT CREDIT EXPORT CREDIT INSURANCE EXPORT FINANCE EXPORT MARKETS EXPORTER EXPORTERS EXPOSURES FINANCE CONSTRAINTS FINANCE CORPORATION FINANCE INITIATIVE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL MEANS FINANCIAL RESOURCES FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FORMS OF CREDIT GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT ACTIONS GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS HOME COUNTRY INCOME INCOME LEVELS INSURANCE INTERNATIONAL BANKING INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INVESTMENT FINANCE INVESTMENT FUNDS LACK OF ACCESS LACK OF FINANCE LETTERS OF CREDIT LIQUIDITY LIQUIDITY CRISIS LOAN LOCAL BANKS LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET FAILURE MARKET SHARE MARKET SHARES MATURITY MIDDLE-INCOME COUNTRIES MISSING MARKETS MONETARY FUND MORAL HAZARD MULTINATIONAL NEW ENTRANTS OUTPUT PORTFOLIO PORTFOLIO EXPOSURE PORTFOLIOS PRICE VOLATILITY PRIVATE BANKS PRUDENTIAL REQUIREMENTS REAL SECTOR RECESSION REGIONAL DEVELOPMENT BANKS REGIONAL TRADE REGULATORS RISK AVERSION RISK MANAGEMENT RISK PREMIUMS SELF-FINANCING SHARE OF WORLD TRADE STRUCTURAL PROBLEMS SUPPLY CHAIN SUPPLY CHAINS TRADE CREDIT TRADE FACILITATION TRADE FINANCE TRADE FLOWS TRADING TRANSPARENCY UNDERDEVELOPED FINANCIAL SYSTEMS UNDERWRITERS UNION WORKING CAPITAL WORLD ECONOMY WORLD TRADE
spellingShingle	ADVERSE EFFECTS AFFORDABLE COST BANK INTERMEDIATION BANKING REGULATIONS BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEMS BANKS CAPITAL BASE CAPITAL REQUIREMENTS CASH DEPOSITS CASH FLOW CASH RESERVES CENTRAL BANKS CHAMBER OF COMMERCE COLLATERAL COLLECTIVE ACTIONS COMMERCIAL BANKS COMMODITIES COMMODITY COMMODITY EXPORTS COMMODITY PRICES COST OF FUNDS COUNTRY MARKETS CREDIT AGENCIES CREDIT AVAILABILITY CREDIT LINES CREDITWORTHINESS CUSTOMER RELATIONS CUSTOMER RELATIONSHIPS DEFAULT RISK DEVELOPED COUNTRIES DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT BANKS DIRECT FINANCING DOMESTIC ECONOMIES ECONOMIC INTEGRATION ECONOMIC POLICY ELIGIBILITY CRITERIA EMERGING ECONOMIES EMERGING MARKETS ENFORCEMENT SYSTEMS EXPORT CREDIT EXPORT CREDIT INSURANCE EXPORT FINANCE EXPORT MARKETS EXPORTER EXPORTERS EXPOSURES FINANCE CONSTRAINTS FINANCE CORPORATION FINANCE INITIATIVE FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL MEANS FINANCIAL RESOURCES FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FINANCIAL SYSTEMS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FORMS OF CREDIT GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT ACTIONS GOVERNMENT INTERVENTION GOVERNMENT INTERVENTIONS HOME COUNTRY INCOME INCOME LEVELS INSURANCE INTERNATIONAL BANKING INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL TRADE INVESTMENT FINANCE INVESTMENT FUNDS LACK OF ACCESS LACK OF FINANCE LETTERS OF CREDIT LIQUIDITY LIQUIDITY CRISIS LOAN LOCAL BANKS LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET FAILURE MARKET SHARE MARKET SHARES MATURITY MIDDLE-INCOME COUNTRIES MISSING MARKETS MONETARY FUND MORAL HAZARD MULTINATIONAL NEW ENTRANTS OUTPUT PORTFOLIO PORTFOLIO EXPOSURE PORTFOLIOS PRICE VOLATILITY PRIVATE BANKS PRUDENTIAL REQUIREMENTS REAL SECTOR RECESSION REGIONAL DEVELOPMENT BANKS REGIONAL TRADE REGULATORS RISK AVERSION RISK MANAGEMENT RISK PREMIUMS SELF-FINANCING SHARE OF WORLD TRADE STRUCTURAL PROBLEMS SUPPLY CHAIN SUPPLY CHAINS TRADE CREDIT TRADE FACILITATION TRADE FINANCE TRADE FLOWS TRADING TRANSPARENCY UNDERDEVELOPED FINANCIAL SYSTEMS UNDERWRITERS UNION WORKING CAPITAL WORLD ECONOMY WORLD TRADE Chauffour, Jean-Pierre Malouche, Mariem Trade Finance during the 2008–9 Trade Collapse : Key Takeaways
relation	Economic Premise; No. 66
description	Trade finance matters for trade, and when financial markets and world trade collapsed three years ago, a shortage in trade finance was hailed as a possible culprit. Because of the potential for global repercussions, world leaders called on the international community to act swiftly to avoid a depression. Governments and international institutions intervened to mitigate the impacts of the crisis. Then the economy bounced back, and trade picked up. But what did we learn from the crisis? In retrospect, what role did trade finance actually play? Did the freeze in the financial markets cause the unprecedented drop in global trade in 2008-9? This note presents evidence on the role of trade finance during 2008-9 and highlights a few takeaways on the data and knowledge gap of trade finance and government interventions during financial crises.
format	Publications & Research :: Brief
author	Chauffour, Jean-Pierre Malouche, Mariem
author_facet	Chauffour, Jean-Pierre Malouche, Mariem
author_sort	Chauffour, Jean-Pierre
title	Trade Finance during the 2008–9 Trade Collapse : Key Takeaways
title_short	Trade Finance during the 2008–9 Trade Collapse : Key Takeaways
title_full	Trade Finance during the 2008–9 Trade Collapse : Key Takeaways
title_fullStr	Trade Finance during the 2008–9 Trade Collapse : Key Takeaways
title_full_unstemmed	Trade Finance during the 2008–9 Trade Collapse : Key Takeaways
title_sort	trade finance during the 2008–9 trade collapse : key takeaways
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2011/09/15165991/trade-finance-during-2008-9-trade-collapse-key-takeaways http://hdl.handle.net/10986/10077
_version_	1764411740840263680

Trade Finance during the 2008–9 Trade Collapse : Key Takeaways

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