The influence of global crisis on trad in financial services

Abstract

The given article deals with the analysis of the impact of global economic crisis on financial services trade. The aim of the research described in the article is to forecast the development of financial services export during the period of global economic crisis. To achieve this aim, two main tasks have been set. Firstly, analyze the influence of global economic crisis on trade in financial services. Secondly, define tendencies in the development of financial services export during short- or medium-term prospects. As the basis for the achievement of the given tasks one used such research methods as: mathematic correlation, scenario analysis and the analysis of advanced researches in the sphere of financial services trade. Data base of the following international organizations: World Trade Organization, Organization for Economic Co-operation and Development and the United Nations served as the sources of statistical information. The results of the research proved to be: the revealed correlation between financial services export and economic cycles, as well as scenarios of the development of trade in financial services during the period of an economic crisis.