Trade and Development

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The Trade and Development Series seeks to provide objective, accessible information about the new trade agenda. Titles in the series cover a wide range of topics, from regional trade agreements and customs reform to agriculture, intellectual property rights, services, and other key issues currently being discussed in World Trade Organization negotiations. Contributors to the series represent some of the world’s leading thinkers and specialists on international trade issues. Titles in this series undergo internal and external review under the management of the Trade Group's Advisory Board in the World Bank's Poverty Reduction and Economic Management Network.

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    Trade Finance during the Great Trade Collapse
    (World Bank, 2011-06-22) Chauffour, Jean-Pierre ; Malouche, Mariem
    The bursting of the subprime mortgage market in the United States in 2008 and the ensuing global financial crisis were associated with a rapid decline in global trade. The extent of the trade collapse was unprecedented: trade flows fell at a faster rate than had been observed even in the early years of the great depression. G-20 leaders held their first crisis-related summit in November 2008. The goal was to understand the root causes of the global crisis and to reach consensus on actions to address its immediate effects. In the case of trade, a key question concerned the extent to which a drying up of trade finance caused the observed decline in trade flows. This book brings together a range of projects and studies undertaken by development institutions, export credit agencies, private bankers, and academics to shed light on the role of trade finance in the 2008-09 great trade collapse. It provides policy makers, analysts, and other interested parties with analyses and assessments of the role of governments and institutions in restoring trade finance markets. A deeper understanding of the complexity of trade finance remains critical as the world economy recovers and the supply of trade finance improves. The international community continues to know too little about the fragility of low income economies in response to trade finance developments and shocks, as well as about the ability and conditions of access to trade finance by small and medium enterprises and small banks in developing countries. Similarly, there is uncertainty regarding the impact on trade finance of recent changes in the third Basel regulatory framework.
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    International Trade in Services : New Trends and Opportunities for Developing Countries
    (World Bank, 2010) Cattaneo, Olivier ; Engman, Michael ; Sáez, Sebastián ; Stern, Robert M.
    International trade in services also provides an assessment of how policy makers can further bolster their service industries by leveraging the changes prompted by technological advancements. The book provides policy recommendations that include the reduction of barriers to services trade across all sectors and the promotion of health- and environment-related development policies that should be promoted in parallel with a burgeoning services market. The first recommendation is considered the most important, because it focuses on the need to ensure trade openness, which helps ensure the access to services and promotes the quality of services provision through foreign and domestic competition. Moreover, the issue of temporary movement of labor is another focus of this book, given that it is one of the most important means of service exports for developing countries. This is an issue that is considered technically complex and politically sensitive because of its political and security implications. The book examines mechanisms that have been used by various countries to liberalize the temporary movement of persons and concludes that regardless of the negotiating forum- multilateral, regional, or bilateral-the policy making results on temporary movement of labor are, so far, modest and limited to a small range of categories. However, it proposes alternative ways to move forward that require further analysis by countries and relevant international organizations, including the World Bank.