全球智库信息集成服务系统(G2TT): Trade flows in developing countries: what is the role of trade finance?

G2TT

来源类型	Discussion Paper
规范类型	工作论文
ISBN	978-3-88985-678-4
	Trade flows in developing countries: what is the role of trade finance?
	Brandi, Clara; Birgit Schmitz
发表日期	2015
出版年	2015
概述	Trade finance can be an important driver for international trade. We analyse a panel data set on export credit insurance and trade flows for 215 destinations for the period 2005-2013 and find that imports to developing countries are heavily supported by a higher flow of trade credit insurance.
摘要	The availability of trade finance can be an important driver for international trade. This paper analyses the effect of trade finance on the trade flows of industrialized, emerging and developing economies and focuses in particular on the role of trade openness. We use Berne Union data on export credit insurance, the most extensive dataset on trade finance currently available, for the period 2005-2013.Using a two-stage instrumentation approach, we find a significantly positive effect of the availability of trade finance on trade. A one per cent increase in commitments is followed by a 0.27-0.54 per cent increase in total imports in the next year. This is a rather large effect and underlines the importance of trade financing for the smooth exchange of goods across countries and regions. Moreover, we find that trade openness is a very important determinant, not only of import flows but also of how trade credit insurance impacts on trade flows. The more open a country is to trade, the less important is the trade credit insurance effect on imports; when a country is more open to trade, the more frequent exchanges of goods support reliable importerexporter relationships, so that trade partners do not have to rely as much on trade finance instruments. We further investigate how the effect of the availably of trade finance on trade flows differs across different country groups, above all with a view to different levels of income and levels of development. We find that import flows to non-OECD, lower and middle-income and developing countries are heavily supported by a higher flow of trade credit insurance. We also investigate the importance of trade finance across regions and find that trade finance is particularly important for sub-Saharan Africa.
URL	https://www.die-gdi.de/en/discussion-paper/article/trade-flows-in-developing-countries-what-is-the-role-of-trade-finance/
来源智库	German Development Institute (Germany)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/499918
推荐引用方式 GB/T 7714	Brandi, Clara,Birgit Schmitz. Trade flows in developing countries: what is the role of trade finance?. 2015.

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DP_13.2015.pdf（879KB）	智库出版物		限制开放	CC BY-NC-SA	浏览