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Improving Export Credit Agency Impact Through Full Faith and Credit

  • International trade requires sufficient, reliable, and affordable sources of financing. Export credit agencies (ECAs) fill trade finance gaps by offering financing, insurance and guarantees to provide liquidity or mitigate risks. They help to create or secure jobs in the domestic economy. However, comprehensive government support is required to create significant impact. This includes ‘full faithInternational trade requires sufficient, reliable, and affordable sources of financing. Export credit agencies (ECAs) fill trade finance gaps by offering financing, insurance and guarantees to provide liquidity or mitigate risks. They help to create or secure jobs in the domestic economy. However, comprehensive government support is required to create significant impact. This includes ‘full faith and credit’ of the state. In the context of public foreign trade promotion, full faith and credit is defined as an explicit, direct or indirect, irrevocable, legal commitment to accept all liabilities of an ECA as unconditional obligations of the respective government. Our policy recommendations for countries with relatively young ECAs, for example in Ukraine, Armenia, and Malawi, are to establish a full guarantee in addition to an efficient legal set-up, sufficient capital, and sound risk management of the respective agency. Without full faith and credit, policy goals of fostering economic growth through foreign trade fall short.show moreshow less

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Metadaten
Document Type:Article (reviewed)
Zitierlink: https://opus.hs-offenburg.de/7737
Bibliografische Angaben
Title (English):Improving Export Credit Agency Impact Through Full Faith and Credit
Author:Andreas KlasenStaff MemberORCiDGND, Hans Janus
Year of Publication:2023
First Page:789
Last Page:808
Parent Title (English):Journal of World Trade
Volume:57
Issue:5
ISSN:1011-6702
DOI:https://doi.org/10.54648/trad2023032
URL:https://kluwerlawonline.com/journalarticle/Journal+of+World+Trade/57.5/TRAD2023032
Language:English
Inhaltliche Informationen
Institutes:Forschung / IfTI - Institute for Trade and Innovation
Fakultät Wirtschaft (W)
Institutes:Bibliografie
Tag:ECA; Export; Full Faith and Credit; Trade
Formale Angaben
Relevance:Wiss. Zeitschriftenartikel reviewed: Listung in Master Journal List
Open Access: Closed 
Licence (German):License LogoUrheberrechtlich geschützt