摘要：Several important policy questions raised by the drop in
trade finance during the global financial crisis remain unsettled
due to the lack of hard data on trade finance. This
paper provides fresh empirical evidence on the determinants
of bank-intermediated trade finance using a novel panel data
set. Results indicate that trade finance is driven by demandside
factors, such as a country’s trade flows growth, and global
import growth. In addition, trade finance is dependent on funding
availability for domestic banks, as well as global financial
conditions and dollar funding costs. These results are robust
to different model specifications.
