World Trade Financing under the Crisis: Efforts of Rebooting the Engine

Authors

Abstract

It the article, the influence of the current crisis on trade financing, one of the key drivers of international trade, is studied. The crisis led to significant decrease in the trade financing, making the situation in the global trade harder and hampering possible resurgence of this mode of international economic co-operation. The author investigates probable causes of mismatch between supply and demand in the trade financing sector. He looks for possible ways out and creates certain recommendations for solving the problem, especially referring to a trade financing «support package» adopted by G-20 at its London summit in April 2009. The author also puts an emphasis on WTO’s role on this issue.

Keywords:

trade financing, crisis, market failure, shortage, support measures

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Author Biography

Марк Обойн, World Trade Organization (WTO), Centre William Rappard, Rue de Lausanne 154, CH-1211 Geneva 21, Switzerland

доктор философии, советник отдела экономических исследований и статистики Всемирной торговой организации и член рабочей комиссии по финансовому кризису и торговле организаций

References

Литература на русском языке


References in Latin Alphabet

Trade Finance in Financial Crises: An Assessment of Key Issues, IMF Board Paper IMF (2003).

WTO (2003). Improving the Availability of Trade Finance During Financial Crises. WTO Discussion. Paper 2. Geneva, 2003.

WTO (2004). The Trade, Debt and Finance Nexus: At the Cross-Roads of Micro- and Macroeconomics. WTO

Discussion Paper 6. Geneva, 2004.

WTO Document WT/WGTDF/W/44. URL: www.wto.org

Survey of Private Sector Trade Credit Developments IMF (2009). URL: www.imf.org/external

IMF and BAFT Trade Finance Survey (2009). URL: www.baft.org

An ICC Global Survey for the WTO Group of Experts Meeting on March 18, 2009. ICC Document 470-1118 WJ 1/ March 09; Rethinking Trade Finance 2009, ICC Global Survey sponsored by the Asian Development Bank, Coastline Solutions, the European Bank for Reconstruction and Development, the Inter-American Development Bank, the International Financial Corporation, the International Financial Services Association, and SWIFT. ICC Document 470-1120 WJ 31 March 09. URL: www.iccwbo.org

WTO Document WT/WGTDF/W/39. URL: www.wto.org

Trade Finance in periods of crisis: Assessment of Key Issues. URL: www.imf.org/external

Auboin M. Restoring Trade Finance // Тhe collapse of global trade, murky protectionism, and the crisis. 2009. URL: www.voxeu.org


Translation of references in Russian into English

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Published

2010-03-30

How to Cite

Обойн, М. (2010). World Trade Financing under the Crisis: Efforts of Rebooting the Engine. St Petersburg University Journal of Economic Studies, (1), 012–021. Retrieved from https://economicsjournal.spbu.ru/article/view/2969

Issue

No. 1 (2010)

Section

Global economy

License

Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.