Financing World Trade
نویسنده
چکیده
The international financial system has grown and evolved immensely over the past two decades. In the late 1950's the Eurocurrency market was only beginning to emerge, for all practical purposes there was no Eurobond market, and extensions of commercial credits were limited to the old commercial banking function of short term trade financing. All of that has changed. Total deposits in the Eurodollar market today are in excess of $400 billion. The international bond market last year underwrote a record volume of new long term financing. And commercial banks have become increasingly innovative in responding to international demands for credit.
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