Trade Finance in Crisis : Market Adjustment or Market Failure?

Chauffour, Jean-Pierre; Farole, Thomas

dc.creator	Chauffour, Jean-Pierre
dc.creator	Farole, Thomas
dc.date	2012-03-19T19:11:37Z
dc.date	2012-03-19T19:11:37Z
dc.date	2009-07-01
dc.date.accessioned	2023-02-18T19:36:25Z
dc.date.available	2023-02-18T19:36:25Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090720085356
dc.identifier	http://hdl.handle.net/10986/4195
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/249695
dc.description	As world leaders have agreed to massively support trade finance, this paper discusses the singularity of the issues related to trade finance in the context of the global economic crisis. Why should international trade finance be a particular issue of concern in the current circumstances? Are there specific market or government failures associated with trade finance that justify a special and differential treatment of the issue by policymakers? If so, what would then be the most appropriate policy instruments to address those concerns? The paper cautions against the notion of a large trade finance "gap," yet highlights the possible rationales and conditions for an effective intervention in support of trade finance.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5003
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ACCESS TO BANK
dc.subject	ACCESS TO BANKS
dc.subject	ACCOUNTS RECEIVABLE
dc.subject	ACCOUNTS RECEIVABLES
dc.subject	ADB
dc.subject	AMOUNT OF CREDIT
dc.subject	AMOUNT OF LOAN
dc.subject	ASSET CLASS
dc.subject	AUCTION
dc.subject	BAILOUTS
dc.subject	BALANCE SHEET
dc.subject	BALANCE SHEETS
dc.subject	BANK BAILOUTS
dc.subject	BANK CREDIT
dc.subject	BANK FINANCING
dc.subject	BANK GUARANTEE
dc.subject	BANK LOANS
dc.subject	BANK OF ISRAEL
dc.subject	BANK OF KOREA
dc.subject	BANKING LAWS
dc.subject	BANKING SECTOR
dc.subject	BANKING SYSTEM
dc.subject	BANKING SYSTEMS
dc.subject	BASIS POINTS
dc.subject	BENEFICIARY
dc.subject	BOND
dc.subject	BONDS
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL REQUIREMENTS
dc.subject	CASH PAYMENTS
dc.subject	CENTRAL BANK
dc.subject	CENTRAL BANKS
dc.subject	CHECKS
dc.subject	COLLATERAL
dc.subject	COLLATERALIZATION
dc.subject	COLLECTIVE ACTION
dc.subject	COMMERCIAL BANK
dc.subject	COMMERCIAL BANKS
dc.subject	COMMODITY PRICES
dc.subject	CONTINGENT LIABILITY
dc.subject	COST OF CAPITAL
dc.subject	COUNTRY RISK
dc.subject	CREDIT AGENCIES
dc.subject	CREDIT AGENCY
dc.subject	CREDIT ASSESSMENT
dc.subject	CREDIT BUYER
dc.subject	CREDIT CHAINS
dc.subject	CREDIT GUARANTEE
dc.subject	CREDIT GUARANTEES
dc.subject	CREDIT LINE
dc.subject	CREDIT LINES
dc.subject	CREDIT MARKETS
dc.subject	CREDIT RISK
dc.subject	CREDIT SOURCE
dc.subject	CREDIT SPREADS
dc.subject	CREDIT SYSTEM
dc.subject	CREDIT TRANSACTIONS
dc.subject	CREDITWORTHINESS
dc.subject	CURRENCY
dc.subject	DEPOSIT
dc.subject	DEVELOPING COUNTRIES
dc.subject	DEVELOPING COUNTRY
dc.subject	DEVELOPMENT BANK
dc.subject	DOMESTIC BANKING
dc.subject	DOMESTIC BANKS
dc.subject	DOMESTIC CREDIT
dc.subject	DOMESTIC MARKETS
dc.subject	ECONOMIC CRISIS
dc.subject	EMERGING ECONOMIES
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKETS
dc.subject	EQUIPMENT
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATES
dc.subject	EXPORTER
dc.subject	EXPORTERS
dc.subject	EXTENSION OF CREDIT
dc.subject	FACTORING
dc.subject	FEDERAL RESERVE
dc.subject	FINANCE CONSTRAINTS
dc.subject	FINANCIAL CRISES
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL INSTRUMENT
dc.subject	FINANCIAL INSTRUMENTS
dc.subject	FINANCIAL SHOCKS
dc.subject	FINANCIAL STUDIES
dc.subject	FINANCIAL SUPPORT
dc.subject	FINANCIAL SYSTEM
dc.subject	FLOOR PRICE
dc.subject	FOREIGN BANK
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN CURRENCY DEBT
dc.subject	FOREIGN EXCHANGE
dc.subject	FOREIGN EXCHANGE RESERVES
dc.subject	FORMS OF CREDIT
dc.subject	GLOBAL TRADE
dc.subject	GOVERNMENT INTERVENTION
dc.subject	GOVERNMENT INTERVENTIONS
dc.subject	GOVERNMENT PAPER
dc.subject	GUARANTEE FUND
dc.subject	HOLDING
dc.subject	INCOME TAX
dc.subject	INFLATION
dc.subject	INFORMATION ASYMMETRIES
dc.subject	INFORMATION ASYMMETRY
dc.subject	INSTRUMENT
dc.subject	INSURANCE
dc.subject	INSURANCE CORPORATION
dc.subject	INSURANCE POLICIES
dc.subject	INSURANCE POLICY
dc.subject	INTEREST RATE
dc.subject	INTEREST RATES
dc.subject	INTERNATIONAL BANK
dc.subject	INTERNATIONAL BANKS
dc.subject	INTERNATIONAL DEVELOPMENT
dc.subject	INTERNATIONAL FINANCE
dc.subject	INTERNATIONAL FINANCIAL MARKET
dc.subject	INTERNATIONAL MARKETS
dc.subject	INTERNATIONAL TRADE
dc.subject	INTERNATIONAL TRANSACTIONS
dc.subject	INVESTMENT CAPITAL
dc.subject	INVESTMENT FINANCE
dc.subject	INVESTMENT FLOWS
dc.subject	ISLAMIC DEVELOPMENT BANK
dc.subject	ISSUANCE
dc.subject	JOINT-STOCK COMPANY
dc.subject	LACK OF TRANSPARENCY
dc.subject	LEGAL SYSTEMS
dc.subject	LENDERS
dc.subject	LENDING DECISIONS
dc.subject	LENDING SPREADS
dc.subject	LETTER OF CREDIT
dc.subject	LETTERS OF CREDIT
dc.subject	LEVEL PLAYING FIELD
dc.subject	LEVY
dc.subject	LINE OF CREDIT
dc.subject	LINES OF CREDIT
dc.subject	LIQUIDATION
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY CONSTRAINT
dc.subject	LIQUIDITY CONSTRAINTS
dc.subject	LIQUIDITY CRISIS
dc.subject	LIQUIDITY POSITIONS
dc.subject	LOAN
dc.subject	LOAN AGREEMENT
dc.subject	LOAN GUARANTEE
dc.subject	LOAN PORTFOLIOS
dc.subject	LOCAL BANKS
dc.subject	LOSS OF CONFIDENCE
dc.subject	MACROECONOMIC VOLATILITY
dc.subject	MARKET BORROWINGS
dc.subject	MARKET CONFIDENCE
dc.subject	MARKET FAILURE
dc.subject	MARKET FAILURES
dc.subject	MARKET PARTICIPANTS
dc.subject	MARKET PRACTICES
dc.subject	MARKET PRICES
dc.subject	MARKET RISK
dc.subject	MARKET VALUE
dc.subject	MATURE MARKETS
dc.subject	MISSING MARKETS
dc.subject	MONETARY FUND
dc.subject	MORAL HAZARD
dc.subject	MORAL HAZARDS
dc.subject	MORAL SUASION
dc.subject	MORTGAGE
dc.subject	MULTILATERAL DEVELOPMENT BANKS
dc.subject	NONPAYMENT
dc.subject	OFFSHORE BANKS
dc.subject	OPEN ECONOMIES
dc.subject	PARTIAL GUARANTEE
dc.subject	PARTIAL RISK
dc.subject	PAYMENT BONDS
dc.subject	PERFORMANCE RISK
dc.subject	POLICY RESPONSES
dc.subject	POLITICAL ECONOMY
dc.subject	POLITICAL RISK
dc.subject	PORTFOLIO
dc.subject	PRIVATE BONDS
dc.subject	PRIVATE INVESTORS
dc.subject	PROBABILITY OF DEFAULT
dc.subject	PRODUCTIVITY
dc.subject	PROFIT MARGINS
dc.subject	PROVISION OF CREDIT
dc.subject	RECAPITALIZATION
dc.subject	RECESSION
dc.subject	REGIONAL DEVELOPMENT BANKS
dc.subject	REPAYMENT
dc.subject	REPAYMENT HISTORY
dc.subject	REPOS
dc.subject	RESERVE BANK
dc.subject	RESERVE BANK OF INDIA
dc.subject	RESERVES
dc.subject	RETAINED EARNINGS
dc.subject	RETURN
dc.subject	RETURNS
dc.subject	RISK EVALUATION
dc.subject	RISK MANAGEMENT
dc.subject	RISK PREMIUMS
dc.subject	RISK PROFILE
dc.subject	RISK WEIGHTED ASSETS
dc.subject	SECONDARY MARKET
dc.subject	SECURITY INTEREST
dc.subject	SELF-FINANCE
dc.subject	SETTLEMENT
dc.subject	SHORT-TERM FINANCE
dc.subject	SMALL BUSINESSES
dc.subject	SOLVENCY
dc.subject	SOURCE OF CREDIT
dc.subject	SWAPS
dc.subject	SYSTEMIC RISK
dc.subject	T-BILLS
dc.subject	TAX
dc.subject	TRADE CREDIT
dc.subject	TRADE CREDITS
dc.subject	TRADE FINANCE
dc.subject	TRADE FINANCING
dc.subject	TRADE FLOWS
dc.subject	TRADE VOLUME
dc.subject	TRADING
dc.subject	TRADING SYSTEM
dc.subject	TRANSACTION
dc.subject	TRANSPARENCY
dc.subject	TRANSPORT
dc.subject	TREASURY
dc.subject	TREASURY BILLS
dc.subject	UNDERLYING ASSETS
dc.subject	VALUE OF ASSETS
dc.subject	WORKING CAPITAL
dc.title	Trade Finance in Crisis : Market Adjustment or Market Failure?
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	The World Region
dc.coverage	The World Region