The Need of Trade Finance
The Need of Trade Finance

Author(s): Vessela Todorova
Subject(s): Economy, Supranational / Global Economy, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Trade Finance; Documentary Credit; Documentary Collection; Cash-in-advance; Open Account
Summary/Abstract: Trade finance will remain an important component of international financial flows. Historically trade finance has tended to be highly vulnerable in times of crises. Despite the central role played by trade finance, there has been limited analysis of its role in international capital flows, especially during periods of crisis. All institutions and individuals having worked on trade finance have noted the absence of a globally consistent set of statistics. Despite continuous progress regarding guidance, definition and compilation under all institutions most recent statistical manuals, compilation at both national and international levels has been lagging. Twelve years after the Great financial crisis of 2008-2009, the need and the issue of trade finance re-emerged as a matter of urgency.

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