University of Isfahan International Economics Studies 2008-9643 40 1 2633 06 22 Effect of Global Financial Crisis on International Trade in Developed and Developing Countries 47 56 15552 10.22108/ies.2633.15552 EN Zahra Zamani Isfahan Mohammad Vaez Barzani Isfahan Journal Article 2016 06 14 The recent global crisis, as a big crash ( Baldwin and Simon , 2009), has reduced foreign demand growth affecting total countries’ exports. Given the importance of foreign trade to nations and the reality that recent crisis has affected international trade we study the effects of the global financial crisis on trade relations between countries by using Ma and Cheng (2003) approach and by applying gravity model to both selected developed and developing countries during 1998-2010. Emprical results have approved negative effects of financial crisis on international trade in the countries under consideration. The result obtained is evident that such incidence seems to be significant to explain a sharp fall in the world exports.  JEL Classification : G01, F10 Financial crisis Exchange rate Foreign Trade Gravity Model Developed and Developing Countries https://ies.ui.ac.ir/article_15552_408a63d147acf38c2dd11e2e1e31c8e1.pdf