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    Why Trade Finance Gaps Persist: Does it Matter for Trade and Development?

    Auboin, Marc; DiCaprio, Alisa | March 2017
    Abstract
    Trade finance shortfalls now appear regularly. Does this matter for trade expansion and economic development in developing countries? Global trade finance has resumed following the 2009 global financial crisis. However, the pattern of recovery has been uneven across countries and categories of firms. The recovery has been robust for the main routes of trade and for large trading companies. By contrast, access to trade finance remains costly and scarce in countries which have the strongest potential for trade expansion. The policy response to this problem depends on whether this represents a market failure, or a new global equilibrium. We introduce new data from a global survey of firms to argue that real shortfalls are exacerbated by perception gaps in a way that has enabled market failures to persist. This has troubling implications most directly through its effect on the ability for small firms to benefit from the reallocation of production and investment within global supply chains.
    Citation
    Auboin, Marc; DiCaprio, Alisa. 2017. Why Trade Finance Gaps Persist: Does it Matter for Trade and Development?. © Asian Development Bank Institute. http://hdl.handle.net/11540/7710.
    Keywords
    Taxation
    Business Financing
    Investment Requirements
    Capital Needs
    Tax Incentives
    Project Risks
    Tariff agreements
    Customs convetions
    Import policy
    Export policy
    Trade Finance
    Risk Financing
    Regional Development Finance
    Public Finance
    Infrastructure Financing
    Financing of Infrastructure
    Financial Security
    Financial Intermediation
    Finance And Trade
    Enterprise Financing
    Trade Regulation
    Trade Finance
    Regional Trade Agreements
    General Agreement On Tariffs And Trade
    Foreign and Domestic Financing
    Investments
    Finance
    Market
    Markets
    Use tax
    Tax administration and procedure
    Taxing power
    Effect of taxation
    Business enterprises
    Foreign trade and employment
    Mentoring in business
    Trade routes
    Bills of exchange
    Swaps
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/7710
    Metadata
    Show full item record
    Thumbnail
    adbi-wp702.pdf (672.2Kb)
    Author
    Auboin, Marc
    DiCaprio, Alisa
    Theme
    Finance
    Trade

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    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise