Footnote:
Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
Description:
The UN Conference on Financing for Development in Addis Ababa in July 2015 will pave the way for the implementation of the post-2015 development agenda. The Briefing Paper series “Financing Global Development” analyses key financial and non-financial means of implementation for the new Sustainable Development Goals (SDGs) and discusses building blocks of a new framework for development finance. Although international trade is an integral component of the conference in Addis Ababa, trade finance itself has not been taken into consideration. This omission represents a serious shortcoming because trade finance is essential to international trade, especially for developing countries with less developed national financial markets and limited access to international financial markets. Every trade transaction must be financed. The non-availability of trade finance may therefore become an obstacle to international trade that impedes sustainable development. As international trade is one of the most important driving forces for economic development in developing countries and emerging markets, the availability of trade financing is extremely important for sustainable development. In particular, the integration of small and medium-sized enterprises (SMEs) into international trade is essential for emerging markets and developing countries and promotes economic development in an especially effective and sustainable manner. Trading in intermediate products has now become more important than end product trading, since goods are primarily produced within global value chains; two thirds of international trade is based on trade with intermediary products. Participation in global value chains is therefore an important objective for developing countries. Empirical literature shows that countries which are strongly integrated into global value chains experience, on average, higher economic growth; however, frictions in finance represent one of the greatest obstacles to participation in global value chains. According to estimates ...