Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey
In the aftermath of the Lehman Brothers collapse in September 2008, drop in the supply of trade finance, a critical engine for trade transactions, has become an acute concern for the development community. Banks were increasing pricing on trade fin...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091120140014 http://hdl.handle.net/10986/4329 |
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okr-10986-4329 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO CREDIT AGRICULTURAL PRODUCTS ALTERNATIVE SOURCES OF FINANCING ARREARS BALANCE OF PAYMENTS BANK CREDIT BANK LENDING BANK OF INDONESIA BANK PORTFOLIOS BANKING INDUSTRY BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKS BASIS POINTS BINDING CONSTRAINT BORROWING BROKERS BUSINESS STRATEGIES CAPACITY CONSTRAINTS CAPITAL BASE CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOW CASH RATIO CASH RESERVE CASH RESERVE RATIO CASH RESERVES CENTRAL BANK CENTRAL BANK OF TUNISIA CHEAP MONEY COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT COMMODITY PRICES CONSUMER GOODS CREDIT ACCESS CREDIT AGENCIES CREDIT AGENCY CREDIT GUARANTEE CREDIT GUARANTEES CREDIT HISTORIES CREDIT INSTITUTIONS CREDIT LINE CREDIT LINES CREDIT MARKET CREDIT RISK CREDIT RISK EVALUATION CREDIT RISKS CREDIT STANDING CREDITORS CREDITS CURRENT ACCOUNT DEBT DEBT PAYMENTS DEBTORS DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT BANKS DIVERSIFICATION DOMESTIC BANKS DOMESTIC FINANCIAL MARKETS DOMESTIC MARKETS DOWN PAYMENT DOWN PAYMENTS DUE DILIGENCE DURABLE DURABLE GOODS ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ELIGIBILITY CRITERIA EMERGING ECONOMIES EMERGING MARKETS EQUIPMENT EQUIPMENTS EXPORT COMPETITIVENESS EXPORT EARNINGS EXPORT FINANCING EXPORT GROWTH EXPORT IMPORT BANKS EXPORTER EXPORTERS FACTORING FINANCE CONSTRAINTS FINANCE COSTS FINANCIAL COSTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING ACCESS FISCAL DEFICIT FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN MARKETS GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT INTERVENTION GUARANTEE REQUIREMENTS HANDICRAFTS IMPORT TARIFFS INCOME LEVELS INFLATION INFLATION RATES INFORMATION SYSTEM INSTRUMENT INSURANCE INSURANCE AGENCIES INSURANCE AGENCY INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CORPORATION INSURANCE PRODUCT INSURANCE SERVICES INTEREST RATE INTEREST RATE ADJUSTMENTS INTEREST RATE CEILING INTEREST RATE CEILINGS INTEREST RATES INTEREST SUBSIDY INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL CREDIT INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTION INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKET INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTMENT BANKING LACK OF FINANCE LEGISLATION LENDING DECISIONS LENDING PORTFOLIOS LENDING REQUIREMENTS LETTER OF CREDIT LETTERS OF CREDIT LETTERS OF CREDITS LINES OF CREDIT LINES OF CREDITS LIQUIDITY LIQUIDITY CONSTRAINTS LOAN LOAN PORTFOLIO LOAN PORTFOLIOS LOCAL BANKS LOCAL CURRENCY MARKET ACCESS MARKET FAILURE MATURITIES MATURITY MORAL HAZARD MORTGAGE MULTINATIONAL MULTINATIONAL BANKS NEW COMPANIES NEW MARKETS PENSION PENSION FUNDS POLITICAL RISK PRIVATE BANKS PRIVATE CREDIT PRIVATE LENDERS PROFITABILITY PROPERTY TAX PUBLIC BANKS RECEIPTS RECESSION REGIONAL DEVELOPMENT BANKS REMITTANCES RESERVE BANK OF INDIA RESERVE REQUIREMENT RETAINED EARNINGS RISK AVERSION RISK MITIGATION SELF-FINANCING SHORT-TERM FINANCING SHORT-TERM TRADE FINANCE SOCIAL DEVELOPMENT SOCIAL SECURITY STATE BANK STRUCTURAL PROBLEMS SUBORDINATED DEBT SUPPLY CHAIN SUPPLY CHAINS TAX CREDITS TECHNICAL ASSISTANCE TECHNICAL SUPPORT TELECOMMUNICATIONS TERM CREDITS TIER 2 CAPITAL TRADE CREDIT TRADE CREDITS TRADE FINANCING TRADE FLOWS TRADE VOLUME TRADING TREASURY UNEMPLOYMENT UNION WORKING CAPITAL |
| spellingShingle |
ACCESS TO CREDIT AGRICULTURAL PRODUCTS ALTERNATIVE SOURCES OF FINANCING ARREARS BALANCE OF PAYMENTS BANK CREDIT BANK LENDING BANK OF INDONESIA BANK PORTFOLIOS BANKING INDUSTRY BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKS BASIS POINTS BINDING CONSTRAINT BORROWING BROKERS BUSINESS STRATEGIES CAPACITY CONSTRAINTS CAPITAL BASE CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOW CASH RATIO CASH RESERVE CASH RESERVE RATIO CASH RESERVES CENTRAL BANK CENTRAL BANK OF TUNISIA CHEAP MONEY COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT COMMODITY PRICES CONSUMER GOODS CREDIT ACCESS CREDIT AGENCIES CREDIT AGENCY CREDIT GUARANTEE CREDIT GUARANTEES CREDIT HISTORIES CREDIT INSTITUTIONS CREDIT LINE CREDIT LINES CREDIT MARKET CREDIT RISK CREDIT RISK EVALUATION CREDIT RISKS CREDIT STANDING CREDITORS CREDITS CURRENT ACCOUNT DEBT DEBT PAYMENTS DEBTORS DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT BANKS DIVERSIFICATION DOMESTIC BANKS DOMESTIC FINANCIAL MARKETS DOMESTIC MARKETS DOWN PAYMENT DOWN PAYMENTS DUE DILIGENCE DURABLE DURABLE GOODS ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ELIGIBILITY CRITERIA EMERGING ECONOMIES EMERGING MARKETS EQUIPMENT EQUIPMENTS EXPORT COMPETITIVENESS EXPORT EARNINGS EXPORT FINANCING EXPORT GROWTH EXPORT IMPORT BANKS EXPORTER EXPORTERS FACTORING FINANCE CONSTRAINTS FINANCE COSTS FINANCIAL COSTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING ACCESS FISCAL DEFICIT FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN MARKETS GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT INTERVENTION GUARANTEE REQUIREMENTS HANDICRAFTS IMPORT TARIFFS INCOME LEVELS INFLATION INFLATION RATES INFORMATION SYSTEM INSTRUMENT INSURANCE INSURANCE AGENCIES INSURANCE AGENCY INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CORPORATION INSURANCE PRODUCT INSURANCE SERVICES INTEREST RATE INTEREST RATE ADJUSTMENTS INTEREST RATE CEILING INTEREST RATE CEILINGS INTEREST RATES INTEREST SUBSIDY INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL CREDIT INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTION INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKET INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTMENT BANKING LACK OF FINANCE LEGISLATION LENDING DECISIONS LENDING PORTFOLIOS LENDING REQUIREMENTS LETTER OF CREDIT LETTERS OF CREDIT LETTERS OF CREDITS LINES OF CREDIT LINES OF CREDITS LIQUIDITY LIQUIDITY CONSTRAINTS LOAN LOAN PORTFOLIO LOAN PORTFOLIOS LOCAL BANKS LOCAL CURRENCY MARKET ACCESS MARKET FAILURE MATURITIES MATURITY MORAL HAZARD MORTGAGE MULTINATIONAL MULTINATIONAL BANKS NEW COMPANIES NEW MARKETS PENSION PENSION FUNDS POLITICAL RISK PRIVATE BANKS PRIVATE CREDIT PRIVATE LENDERS PROFITABILITY PROPERTY TAX PUBLIC BANKS RECEIPTS RECESSION REGIONAL DEVELOPMENT BANKS REMITTANCES RESERVE BANK OF INDIA RESERVE REQUIREMENT RETAINED EARNINGS RISK AVERSION RISK MITIGATION SELF-FINANCING SHORT-TERM FINANCING SHORT-TERM TRADE FINANCE SOCIAL DEVELOPMENT SOCIAL SECURITY STATE BANK STRUCTURAL PROBLEMS SUBORDINATED DEBT SUPPLY CHAIN SUPPLY CHAINS TAX CREDITS TECHNICAL ASSISTANCE TECHNICAL SUPPORT TELECOMMUNICATIONS TERM CREDITS TIER 2 CAPITAL TRADE CREDIT TRADE CREDITS TRADE FINANCING TRADE FLOWS TRADE VOLUME TRADING TREASURY UNEMPLOYMENT UNION WORKING CAPITAL Malouche, Mariem Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey |
| geographic_facet |
The World Region The World Region |
| relation |
Policy Research working paper ; no. WPS 5138 |
| description |
In the aftermath of the Lehman Brothers
collapse in September 2008, drop in the supply of trade
finance, a critical engine for trade transactions, has
become an acute concern for the development community. Banks
were increasing pricing on trade finance transactions to
cover increased funding costs and higher credit risks, and
trade was dropping drastically in most countries, with
global trade projected to decline in 2009 for the first time
in decades. Yet, little was known about the real impact of
the crisis on developing country s capacity to export. The
World Bank has commissioned a firm and bank survey on trade
and trade finance developments in developing countries
during the first quarter of 2009 to collect field
information. In total, 425 firms and 78 banks were surveyed
in 14 developing countries across five regions. This paper
summarizes the findings of the survey as well as discusses
the type of policies governments and international
organizations put in place to mitigate the impact of the
crisis. In sum, the survey findings confirmed that the
global financial crisis has constrained trade finance for
exporters and importers in developing countries. But the
impact varied by the firm size, sectoral activity, and
countries integration into the global economy. In
particular, SMEs were particularly affected, and export
diversification was made more difficult, especially in low
income countries. Nevertheless, drop in demand has emerged
as the top concern of firms at the time when the survey was
conducted in March-April 2009. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Malouche, Mariem |
| author_facet |
Malouche, Mariem |
| author_sort |
Malouche, Mariem |
| title |
Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey |
| title_short |
Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey |
| title_full |
Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey |
| title_fullStr |
Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey |
| title_full_unstemmed |
Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey |
| title_sort |
trade and trade finance developments in 14 developing countries post september 2008 : a world bank survey |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091120140014 http://hdl.handle.net/10986/4329 |
| _version_ |
1764390951663435776 |
| spelling |
okr-10986-43292021-04-23T14:02:17Z Trade and Trade Finance Developments in 14 Developing Countries Post September 2008 : A World Bank Survey Malouche, Mariem ACCESS TO CREDIT AGRICULTURAL PRODUCTS ALTERNATIVE SOURCES OF FINANCING ARREARS BALANCE OF PAYMENTS BANK CREDIT BANK LENDING BANK OF INDONESIA BANK PORTFOLIOS BANKING INDUSTRY BANKING SECTOR BANKING SYSTEM BANKING SYSTEMS BANKS BASIS POINTS BINDING CONSTRAINT BORROWING BROKERS BUSINESS STRATEGIES CAPACITY CONSTRAINTS CAPITAL BASE CAPITAL MARKETS CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOW CASH RATIO CASH RESERVE CASH RESERVE RATIO CASH RESERVES CENTRAL BANK CENTRAL BANK OF TUNISIA CHEAP MONEY COLLATERAL COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL CREDIT COMMODITY PRICES CONSUMER GOODS CREDIT ACCESS CREDIT AGENCIES CREDIT AGENCY CREDIT GUARANTEE CREDIT GUARANTEES CREDIT HISTORIES CREDIT INSTITUTIONS CREDIT LINE CREDIT LINES CREDIT MARKET CREDIT RISK CREDIT RISK EVALUATION CREDIT RISKS CREDIT STANDING CREDITORS CREDITS CURRENT ACCOUNT DEBT DEBT PAYMENTS DEBTORS DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT BANK DEVELOPMENT BANKS DIVERSIFICATION DOMESTIC BANKS DOMESTIC FINANCIAL MARKETS DOMESTIC MARKETS DOWN PAYMENT DOWN PAYMENTS DUE DILIGENCE DURABLE DURABLE GOODS ECONOMIC CONDITIONS ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC POLICY ELIGIBILITY CRITERIA EMERGING ECONOMIES EMERGING MARKETS EQUIPMENT EQUIPMENTS EXPORT COMPETITIVENESS EXPORT EARNINGS EXPORT FINANCING EXPORT GROWTH EXPORT IMPORT BANKS EXPORTER EXPORTERS FACTORING FINANCE CONSTRAINTS FINANCE COSTS FINANCIAL COSTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCING ACCESS FISCAL DEFICIT FOREIGN BANKS FOREIGN CAPITAL FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN MARKETS GLOBAL ECONOMY GLOBAL TRADE GOVERNMENT INTERVENTION GUARANTEE REQUIREMENTS HANDICRAFTS IMPORT TARIFFS INCOME LEVELS INFLATION INFLATION RATES INFORMATION SYSTEM INSTRUMENT INSURANCE INSURANCE AGENCIES INSURANCE AGENCY INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CORPORATION INSURANCE PRODUCT INSURANCE SERVICES INTEREST RATE INTEREST RATE ADJUSTMENTS INTEREST RATE CEILING INTEREST RATE CEILINGS INTEREST RATES INTEREST SUBSIDY INTERNATIONAL BANK INTERNATIONAL BANKS INTERNATIONAL CREDIT INTERNATIONAL DEVELOPMENT INTERNATIONAL FINANCE INTERNATIONAL FINANCIAL INSTITUTION INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL MARKET INTERNATIONAL TRADE INVENTORIES INVENTORY INVESTMENT BANKING LACK OF FINANCE LEGISLATION LENDING DECISIONS LENDING PORTFOLIOS LENDING REQUIREMENTS LETTER OF CREDIT LETTERS OF CREDIT LETTERS OF CREDITS LINES OF CREDIT LINES OF CREDITS LIQUIDITY LIQUIDITY CONSTRAINTS LOAN LOAN PORTFOLIO LOAN PORTFOLIOS LOCAL BANKS LOCAL CURRENCY MARKET ACCESS MARKET FAILURE MATURITIES MATURITY MORAL HAZARD MORTGAGE MULTINATIONAL MULTINATIONAL BANKS NEW COMPANIES NEW MARKETS PENSION PENSION FUNDS POLITICAL RISK PRIVATE BANKS PRIVATE CREDIT PRIVATE LENDERS PROFITABILITY PROPERTY TAX PUBLIC BANKS RECEIPTS RECESSION REGIONAL DEVELOPMENT BANKS REMITTANCES RESERVE BANK OF INDIA RESERVE REQUIREMENT RETAINED EARNINGS RISK AVERSION RISK MITIGATION SELF-FINANCING SHORT-TERM FINANCING SHORT-TERM TRADE FINANCE SOCIAL DEVELOPMENT SOCIAL SECURITY STATE BANK STRUCTURAL PROBLEMS SUBORDINATED DEBT SUPPLY CHAIN SUPPLY CHAINS TAX CREDITS TECHNICAL ASSISTANCE TECHNICAL SUPPORT TELECOMMUNICATIONS TERM CREDITS TIER 2 CAPITAL TRADE CREDIT TRADE CREDITS TRADE FINANCING TRADE FLOWS TRADE VOLUME TRADING TREASURY UNEMPLOYMENT UNION WORKING CAPITAL In the aftermath of the Lehman Brothers collapse in September 2008, drop in the supply of trade finance, a critical engine for trade transactions, has become an acute concern for the development community. Banks were increasing pricing on trade finance transactions to cover increased funding costs and higher credit risks, and trade was dropping drastically in most countries, with global trade projected to decline in 2009 for the first time in decades. Yet, little was known about the real impact of the crisis on developing country s capacity to export. The World Bank has commissioned a firm and bank survey on trade and trade finance developments in developing countries during the first quarter of 2009 to collect field information. In total, 425 firms and 78 banks were surveyed in 14 developing countries across five regions. This paper summarizes the findings of the survey as well as discusses the type of policies governments and international organizations put in place to mitigate the impact of the crisis. In sum, the survey findings confirmed that the global financial crisis has constrained trade finance for exporters and importers in developing countries. But the impact varied by the firm size, sectoral activity, and countries integration into the global economy. In particular, SMEs were particularly affected, and export diversification was made more difficult, especially in low income countries. Nevertheless, drop in demand has emerged as the top concern of firms at the time when the survey was conducted in March-April 2009. 2012-03-19T19:14:06Z 2012-03-19T19:14:06Z 2009-11-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20091120140014 http://hdl.handle.net/10986/4329 English Policy Research working paper ; no. WPS 5138 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region |