This paper studies empirically the effects of financial crises on international trade. The major findings are that banking crises had a negative impact on imports but a positive impact on exports in the short term, whereas currency crises decreased imports in the short term and stimulated exports in the longer term.
MA, Z., & CHENG, K. H. L. (2005). The effects of financial crises on international trade. In International trade in East Asia (pp. 253-282). University of Chicago Press. https://doi.org/10.3386/w10172