Trade finance is integral for international trade as it offers fluidity and safety to the movement of merchandise and services globally. After the financial crisis of 2008–2009, there has been an increase in the use of open accounts, which enhances the possibilities for availing factoring for international trade. International factoring has witnessed considerable growth in the last decade. This article examines the relationship between international factoring and cross-border trade using Granger causality. It also examines the causal relations of international factoring with disaggregated data of cross-border trade of imports and exports. We find a unidirectional causal flow from international trade to international factoring, and a unidirectional casual flow from exports to international factoring.

JEL Classification: F10, F30

贸易融资是国际贸易不可或缺的一部分，因为它为全球商品和服务的流动提供了流动性和安全性。2008-2009 年金融危机之后，开立账户的使用有所增加，这增加了在国际贸易中使用保理的可能性。国际保理业务在过去十年中取得了可观的增长。本文使用格兰杰因果关系研究了国际保理与跨境贸易之间的关系。它还研究了国际保理与进出口跨境贸易的分类数据之间的因果关系。我们发现从国际贸易到国际保理的单向因果流，以及从出口到国际保理的单向因果流。

JEL 分类： F10、F30