Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance

Includes Bibliography

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Autores principales:	Zapata S., Willy W., Eisele, María Kristina
Formato:	Texto
Lenguaje:	English
Publicado:	CEPAL 2014
Materias:	CRISIS FINANCIERA COMERCIO INTERNACIONAL COMERCIO INTRARREGIONAL INTEGRACION ECONOMICA EXPORTACIONES ESTADISTICAS COMERCIALES FINANCIAL CRISIS INTERNATIONAL TRADE INTRAREGIONAL TRADE ECONOMIC INTEGRATION EXPORTS TRADE STATISTICS
Acceso en línea:	http://hdl.handle.net/11362/4926
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spelling	oai-11362-49262020-03-06T16:50:27Z Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance Zapata S., Willy W. Eisele, María Kristina CRISIS FINANCIERA COMERCIO INTERNACIONAL COMERCIO INTRARREGIONAL INTEGRACION ECONOMICA EXPORTACIONES ESTADISTICAS COMERCIALES FINANCIAL CRISIS INTERNATIONAL TRADE INTRAREGIONAL TRADE ECONOMIC INTEGRATION EXPORTS TRADE STATISTICS Includes Bibliography Available on line In this paper we explore trade finance as a transmission channel of adverse shocks to Central America. We analyze data on trade and trade finance flows, and show that they largely follow the same pattern in the region. A contraction of trade finance supply to Central America will affect trade exports negatively, and consequently impact economic growth and jobs. While until now the region has weathered the financial and European debt crises relatively well, shocks may come from a further contraction of lending in developed countries. The lending contraction can arise from losses from the recent financial crisis that have not yet been fully recognized on the balance sheets of financial institutions, from regulatory changes in raising capital requirements, and from further adverse shocks, such as the lack of a solution to the euro area sovereign debt crisis, or from all of the above. Finally, we put forward policy recommendations to mitigate the risk of transmission of shocks through trade finance to Central America. In this paper we explore trade finance as a transmission channel of adverse shocks to Central America. We analyze data on trade and trade finance flows, and show that they largely follow the same pattern in the region. A contraction of trade finance supply to Central America will affect trade exports negatively, and consequently impact economic growth and jobs. While until now the region has weathered the financial and European debt crises relatively well, shocks may come from a further contraction of lending in developed countries. The lending contraction can arise from losses from the recent financial crisis that have not yet been fully recognized on the balance sheets of financial institutions, from regulatory changes in raising capital requirements, and from further adverse shocks, such as the lack of a solution to the euro area sovereign debt crisis, or from all of the above. Finally, we put forward policy recommendations to mitigate the risk of transmission of shocks through trade finance to Central America. 2014-01-02T15:37:38Z 2014-01-02T15:37:38Z 2013-02 Texto Documento Completo http://hdl.handle.net/11362/4926 LC/L.3582 LC/MEX/L.1095 en Serie Estudios y Perspectivas (México, DF) 141 application/pdf AMERICA CENTRAL CENTRAL AMERICA CEPAL
institution	Cepal
collection	Cepal
language	English
topic	CRISIS FINANCIERA COMERCIO INTERNACIONAL COMERCIO INTRARREGIONAL INTEGRACION ECONOMICA EXPORTACIONES ESTADISTICAS COMERCIALES FINANCIAL CRISIS INTERNATIONAL TRADE INTRAREGIONAL TRADE ECONOMIC INTEGRATION EXPORTS TRADE STATISTICS
spellingShingle	CRISIS FINANCIERA COMERCIO INTERNACIONAL COMERCIO INTRARREGIONAL INTEGRACION ECONOMICA EXPORTACIONES ESTADISTICAS COMERCIALES FINANCIAL CRISIS INTERNATIONAL TRADE INTRAREGIONAL TRADE ECONOMIC INTEGRATION EXPORTS TRADE STATISTICS Zapata S., Willy W. Eisele, María Kristina Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance
description	Includes Bibliography
format	Texto
author	Zapata S., Willy W. Eisele, María Kristina
author_facet	Zapata S., Willy W. Eisele, María Kristina
author_sort	Zapata S., Willy W.
title	Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance
title_short	Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance
title_full	Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance
title_fullStr	Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance
title_full_unstemmed	Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance
title_sort	possible transmission of adverse shocks from the recent financial crisis to central america through trade finance
publisher	CEPAL
publishDate	2014
url	http://hdl.handle.net/11362/4926
work_keys_str_mv	AT zapataswillyw possibletransmissionofadverseshocksfromtherecentfinancialcrisistocentralamericathroughtradefinance AT eiselemariakristina possibletransmissionofadverseshocksfromtherecentfinancialcrisistocentralamericathroughtradefinance
_version_	1718437177928450048

Possible transmission of adverse shocks from the recent financial crisis to Central America through trade finance

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