When we proxy trade finance by the sum of trade finance loans and export-adjusted notes receivable, elasticity estimates range between 0.18-0.31 depending on the sample of exporters. These estimates are comparable to single and multi-instrument…
The geopolitical confrontation, including the Ukraine-Russia war and the power rivalry between the United States and China, has brought the concept of “resilient trade” to contemporary international economic law. The emphasis on economic security…