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Trade finance in crisis : market adjustment or market failure ?

Author

Listed:
  • Chauffour, Jean-Pierre
  • Farole, Thomas

Abstract

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.

Suggested Citation

  • Chauffour, Jean-Pierre & Farole, Thomas, 2009. "Trade finance in crisis : market adjustment or market failure ?," Policy Research Working Paper Series 5003, The World Bank.
    • Handle: RePEc:wbk:wbrwps:5003
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