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Trade Finance Between Traditional Policies And Digitalisation Imperative

Author

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  • Claudia Gabriela Baicu

Abstract

Trade finance contributes to the development and facilitation of trade flows and can support increased the competitiveness of goods and services. This role is even more relevant in the context of the Covid-19 pandemic, when access to financing has become crucial for trade recovery. Against this background, the article investigates policies and techniques for trade finance under the impact of increasing competition,changes in the evolution of global value chains, tightening banking regulations in the field, increasing protectionism and the imperative of digitalisation. The results of the research reveal that traditional financing products are increasingly less used in favour of open account and the affirmation of new, emerging techniques. One imperative is the digitalisation of trade finance, which, in addition to opportunities, presents some risks and challenges that need to be correctly identified and managed.

Suggested Citation

  • Claudia Gabriela Baicu, 2021. "Trade Finance Between Traditional Policies And Digitalisation Imperative," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 13(1), pages 49-62.
    • Handle: RePEc:iem:journl:v:13:y:2021:i:1:p:49-62
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    File URL: http://www.iem.ro/rem/index.php/REM/article/view/800/883
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    More about this item

    Keywords

    trade finance; traditional financing; digitalisation; banking regulations;
    All these keywords.

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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