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Challenges and Opportunities for Trade and Financial Integration in Asia and the Pacific

image of Challenges and Opportunities for Trade and Financial Integration in Asia and the Pacific
This book brings together chapters that explore various aspects of trade and financial integration in Asia and the Pacific, the reasons for the lack of it, and potential benefits of strengthening such integration. The book focuses on the exploration of challenges and opportunities that exist in intraregional trade in goods, integration in services trade, availability of trade finance as well as inflows of portfolio investments. The papers have been written by researchers who have applied their extensive expertise and analytical skills to studying the impacts of regional trade liberalization and motivation for financial flows.

English

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The global crisis: A wake-up call for trade finance capacity-building in emerging Asia

The global economic crisis has attracted renewed attention to the issue of trade finance as exporters in some countries, particularly SMEs, struggle to secure muchneeded short-term financing and protection against rising commercial risks at a time when demand for their products has fallen dramatically (figure 1). The higher costs and limited availability of trade finance has prompted action by international financial institutions, as the threat it poses to regional economies is significant. A recent empirical analysis (Liu and Duval, 2009) indeed suggested that a 10 per cent decline in trade finance could lead to a drop in total trade of US$ 129 billion in developing Asia, representing 3.6 per cent of their total trade.

English

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