Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123747
Authors: 
Serena Garralda, Jose Maria
Vasishtha, Garima
Year of Publication: 
2015
Series/Report no.: 
Bank of Canada Working Paper 2015-8
Abstract: 
Empirical work on the underlying causes of the recent dislocations in bank-intermediated trade finance has been limited by the poor availability of hard data. This paper analyzes the key determinants of bank-intermediated trade finance using a novel data set covering ten banking jurisdictions. It focuses on the role of global factors as well as country-specific characteristics in driving trade finance. The results indicate that country-specific variables, such as growth in trade flows and the funding availability for domestic banks, as well as global financial conditions and global imports growth, are important determinants of trade finance. These results are robust to different model specifications. Further, we do not find that trade finance is more sensitive to global financial conditions than other loans to non-bank entities.
Subjects: 
International topics
International financial markets
Econometric and statistical methods
JEL: 
F14
F19
Document Type: 
Working Paper

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