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

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cepal.bibLevelDocumento Completo
cepal.callNumberLC/L.3582
cepal.callNumberLC/MEX/L.1095
cepal.callNumberSerie Estudios y Perspectivas (México, DF) no. 141
cepal.docTypeSeries
cepal.idSade49272
cepal.jobNumberS13000121 E
cepal.physicalDescriptiongráficos, tablas
cepal.regionalOfficeMéxico
cepal.topicEngMACROECONOMICS
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicSpaMACROECONOMÍA
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorZapata S., Willy W.
dc.contributor.authorEisele, María Kristina
dc.coverage.spatialEngCENTRAL AMERICA
dc.coverage.spatialSpaAMERICA CENTRAL
dc.date.accessioned2014-01-02T15:37:38Z
dc.date.available2014-01-02T15:37:38Z
dc.date.issued2013-02
dc.descriptionIncludes Bibliography
dc.descriptionAvailable on line
dc.description.abstractIn 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.
dc.description.tableOfContentsIn 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.
dc.formatTexto
dc.format.extent41 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/L.3582
dc.identifier.unSymbolLC/MEX/L.1095
dc.identifier.urihttps://hdl.handle.net/11362/4926
dc.language.isoeng
dc.physicalDescription41 p. : grafs., tabls.
dc.publisherCEPAL
dc.publisher.placeMéxico, D.F.
dc.relation.isPartOfSeriesSerie Estudios y Perspectivas (México, DF)
dc.relation.isPartOfSeriesNo141
dc.rights.coarDisponible
dc.subject.unbisEngFINANCIAL CRISIS
dc.subject.unbisEngINTERNATIONAL TRADE
dc.subject.unbisEngINTRAREGIONAL TRADE
dc.subject.unbisEngECONOMIC INTEGRATION
dc.subject.unbisEngEXPORTS
dc.subject.unbisEngTRADE STATISTICS
dc.subject.unbisSpaCRISIS FINANCIERA
dc.subject.unbisSpaCOMERCIO INTERNACIONAL
dc.subject.unbisSpaCOMERCIO INTRARREGIONAL
dc.subject.unbisSpaINTEGRACION ECONOMICA
dc.subject.unbisSpaEXPORTACIONES
dc.subject.unbisSpaESTADISTICAS COMERCIALES
dc.titlePossible transmission of adverse shocks from the recent financial crisis to Central America through trade finance
dc.type.coarlibro
dspace.entity.typePublication
relation.isAuthorOfPublication4110c339-9cf2-4d1d-87bd-51843abd1cc8
relation.isAuthorOfPublicationd2fa50b4-92f1-4a36-ad42-67cb81401eeb
relation.isAuthorOfPublication.latestForDiscovery4110c339-9cf2-4d1d-87bd-51843abd1cc8
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