Cross-Border Trade Credit and Trade Flows During the Global Financial Crisis

2020 ◽  
Author(s):  
Moon Jung Choi ◽  
Sangyeon Hwang ◽  
Hyejoon Im
Keyword(s):  
Financial Crisis ◽  
Trade Credit ◽  
Global Financial Crisis ◽  
Trade Flows ◽  
Cross Border ◽  
Border Trade ◽  
The Global Financial Crisis

scholarly journals Production Networks and Trade Patterns in East Asia: Regionalization or Globalization?

2011 ◽  
Vol 10 (1) ◽  
pp. 65-95 ◽  
Author(s):  
Prema-chandra Athukorala
Keyword(s):  
Financial Crisis ◽  
East Asia ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Trade Flows ◽  
Production Networks ◽  
Trade Patterns ◽  
Republic Of China ◽  
Final Assembly ◽  
The Global Financial Crisis

This paper examines the implications of global production sharing for economic integration in East Asia with emphasis on the behavior of trade flows in the wake of the 2008 global financial crisis. Although trade in parts and components and final assembly within production networks (“network trade”) has generally grown faster than total world trade in manufacturing, the degree of dependence of East Asia on this new form of international specialization is proportionately larger than elsewhere in the world. Network trade has certainly strengthened economic interdependence among countries in the region with the People's Republic of China playing a pivotal role as the premier center of final assembly. However, contrary to popular belief, this has not lessened the dependence of the export dynamism of these countries on the global economy. This inference is basically consistent with the behavior of trade flows following the onset of the global financial crisis.

Regulation of Commodities Trading

2020 ◽  
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Eu Legislation ◽  
Cross Border ◽  
The Global Financial Crisis ◽  
The Uk ◽  
Domestic Level ◽  
The Eu ◽  
Commodities Markets ◽  
The Way

This book is the first to draw together the numerous different regulations which affect how commodities are traded in the EU. Having long been a largely deregulated industry, intense scrutiny in the aftermath of the global Financial Crisis in 2008 has left commodities trading subject to a raft of harmonized regulations, many of which have yet to be finalized. Regulation of both the physical and the financial commodities markets is undergoing significant change and participants and their advisers are struggling to understand the changes in each jurisdiction as well as the cross-border implications. The book pulls together these various pieces of EU legislation and examines how they influence the way that commodities are traded in Europe. It also provides coverage of regulation at domestic level in key jurisdictions active in the marketplace, namely the UK, US, Switzerland, and Singapore. Divided into eight sections, the book includes analysis of the commodities trading houses (including their motives and methods), the main trading venues, trading practices, and potential illicit practices and market abuses. Each section has a detailed transnational component in which the position in each specific jurisdiction is explained, drawing parallels and setting out the differences between these countries.

scholarly journals The Impact of the Global Financial Crisis on World Trade

2015 ◽  
Vol 52 (1) ◽  
pp. 13-32
Author(s):  
Slobodan Č Čerović ◽  
Marina Pepić ◽  
Pero Petrović ◽  
Stanislav Č Čerović
Keyword(s):  
Financial Crisis ◽  
Regional Integration ◽  
Global Financial Crisis ◽  
World Market ◽  
Trade Flows ◽  
Current Crisis ◽  
National Interests ◽  
Modern Economic ◽  
The Global Financial Crisis ◽  
The Impact

Abstract Modern economic and financial crisis has caused a significant reduction in trade flows, for the first time since the Second World War, so it is often referred to as the trade crisis. Despite many benefits and disadvantages of liberalization as key features of modern age, the current crisis has led to a reassessment of these positions affecting the introduction of protectionist measures and the strengthening of regional ties and alliances. The question that arises is how the future trade flows will look like and whether regional integration will prevail over multilateral and liberalized trading system. The financial crisis quickly became the economic crisis that hit all sectors. The first visible effects of the crisis were reflected in a sharp fall in trade flows, and conditioned drop in demand, which led to a fall in production and employment. The first reactions of numerous countries were protectionist measures in order to protect national interests. This again aroused debate between proponents of liberalism and protectionism, where the effects and the origins of the crisis favored the latter. Economic decision makers, faced with the pressing economic problems, tried to mitigate them (at least in the short-term) turning more to regional partners, and less to the world market.

Integration of Islamic capital market in ASEAN-5 countries

2020 ◽  
Vol 11 (3) ◽  
pp. 811-825
Author(s):  
Ibnu Qizam ◽  
Misnen Ardiansyah ◽  
Abdul Qoyum
Keyword(s):  
Financial Crisis ◽  
Capital Markets ◽  
Capital Market ◽  
Market Integration ◽  
Global Financial Crisis ◽  
Content Type ◽  
Stock Market Integration ◽  
Cross Border ◽  
Causality Tests ◽  
The Global Financial Crisis

Purpose The purpose of this study is to investigate the nature and integration of Islamic stock markets across the Association of Southeast Asian Nations (ASEAN-5) countries for economic community (AEC) development. Design/methodology/approach Using samples of daily closing prices from 2009 to 2014 across ASEAN-5 countries, co-integration and Granger-causality tests were applied. Findings This research finds that Islamic capital markets across ASEAN-5 countries remain highly integrated despite the global financial crisis of 2008, and it also finds the integration strength between Jakarta Islamic Index -Indonesia and Bursa Malaysia Emas Sharia-Malaysia Islamic capital markets to be the most influential across ASEAN-5 countries, while MSCI-Philippine Islamic capital market is the most vulnerable across ASEAN-5 Islamic capital markets. Research limitations/implications The overwhelming benefit of Islamic stock market integration across ASEAN-5 countries, and, even in a broader context, awaits further inquiry. Originality/value Islamic capital markets across ASEAN-5 countries are integrated regardless of the post-global financial crisis. This contributes to confirming cross-border integration policies, especially for AEC development.

scholarly journals Creditor rights, monetary policy, financial crisis, and trade credit

2021 ◽  
pp. 234094442098829
Author(s):  
María Cantero-Saiz ◽  
Begoña Torre-Olmo ◽  
Sergio Sanfilippo-Azofra
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Trade Credit ◽  
Global Financial Crisis ◽  
Jel Classification ◽  
Creditor Protection ◽  
Credit Channel ◽  
Creditor Rights ◽  
Financial Crisis Of 2008 ◽  
The Global Financial Crisis

This article analyses how creditor rights affect the trade credit channel of monetary policy. We also aim to test whether these effects were conditioned by the global financial crisis of 2008. Using a sample of 15,356 firms from 29 countries (2001–2017), we found that in normal times or in countries not very severely affected by the financial crisis, trade credit receivables increase during monetary restrictions. Moreover, this increase is less pronounced as creditor protection strengthens. In countries strongly affected by the financial crisis, however, trade credit receivables do not react or even decrease after monetary expansions, regardless of the degree of creditor protection. Furthermore, the results of trade credit payables and net trade credit are not conclusive. JEL CLASSIFICATION: E52; K22; G32

scholarly journals Finland

2016 ◽  
Vol 2016 (369) ◽  
Author(s):  
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Balance Sheet ◽  
Financial Fragility ◽  
Foreign Investors ◽  
Balance Sheets ◽  
Cross Border ◽  
The Government ◽  
The Global Financial Crisis

This Selected Issues paper examines Finland’s sectoral balance sheets and how they have evolved since the global financial crisis; the analysis reveals that financial vulnerabilities have risen in most sectors. Indebtedness has increased for nonfinancial corporations (NFCs), households, and the government, increasing their financial fragility and vulnerability to shocks. Also, cross-border financial exposures have risen on both sides of Finland’s balance sheet. Specifically, banks’ balance sheets have grown considerably, largely owing to a rise in foreign liabilities. NFCs and the government have also relied in part on foreign investors to finance their debt increases.

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