Prague Economic Papers 2022, 31(3):217-235 | DOI: 10.18267/j.pep.803
Providing Export Credit Support Right: Consequences for Public Budgets
- Prague University of Economics and Business, Faculty of Finance and Accounting, Prague, Czech Republic
This analysis tries to address the problem of the insufficiency of premium rates used by export credit agencies. This paper aims to answer why and how states should run agencies that may create losses. We see that each supported exporter brings some other benefits to the public budget, and we try to propose how it could be measured. This paper therefore focuses on benefits and costs of the domestic economy. This analysis aims to develop a model that calculates the impacts of each supported export project. The results must be comparable between projects so that projects can be ranked and decisions made on which ones should receive support under current capacity restraints. The current state of knowledge has been analysed, and little attention has been paid to this microeconomic area of export support. The model structure also helps us understand why governments tend to maintain export credit agencies even though they may be temporarily loss-making.
Klíčová slova: State support, export credit, OECD Consensus, export credit agency, public finance
JEL classification: G22, G29, H81
Vloženo: 4. leden 2022; Revidováno: 23. únor 2022; Přijato: 1. duben 2022; Zveřejněno online: 12. květen 2022; Zveřejněno: 22. září 2022 Zobrazit citaci
Reference
- S&P Global (2021). 2020 Annual Global Corporate Default and Rating Transition Study [online]. New York: S&P Global. [Accessed 20 November 2021]. Available at: https://www.maalot.co.il/Publications/TS20210408160139.PDF
- WTO (2020). Agreement on Subsidies and Countervailing Measures. Geneva: WTO. Available at: https://www.wto.org/english/docs_e/legal_e/24-scm_01_e.htm
- Auboin, M., Engemann, M. (2012). Testing the Trade Credit and Trade Link: Evidence from Data on Export Credit Insurance. SSRN Electronic Journal, https://doi.org/10.2139/ssrn.2169862
Přejít k původnímu zdroji...
- Cuyvers, L., De Pelsmacker, P., Rayp, G., et al. (1995). A decision support model for the plan-ning and assessment of Export Promotion Activities by Government Export Promotion Institutions - the Belgian case. International Journal of Research in Marketing, 12(2), 173-186, https://doi.org/10.1016/0167-8116(94)00021-f
Přejít k původnímu zdroji...
- Dawar, K. (2019). EU Export Credit Agencies: Assessing Compliance with EU Objectives and Obligations [online]. Florence: Respect. [Accessed 27 December 2021]. Available at: http://respect.eui.eu/wp-content/uploads/sites/6/2019/12/Final-K-Dawar-Horizon 2020-Work-Package-4.2.pdf
- OECD (2017). Guidance on Premium Rules for Officially Supported Export Credits in Market Benchmark Countries. Paris: OECD.
- Hunke, O. (2014). Export Credit Guarantees in a Globalised World. CESifo Forum, 15(3), 17-22.
- Nakládal, J., 2013. Aktuální trendy v systému statní podpory úvěrového pojištění v České republice. Ph.D. Thesis, Prague University of Economics and Business.
- Lawson, C., Dietrich, C., Murray, T. (2019). The Effect of Trade Barriers and Governmental Regulation on Overall Economic Well-Being [online]. Available at: https://smartech.gatech.edu/bitstream/handle/1853/62052/Lawson%20Dietrich%20Murray%20Final%20Emetrics%20Research%20Paper.pdf?sequence=1
- Lindé, J., Pescatori, A., (2017). The macroeconomic effects of trade tariffs: Revisiting the lerner symmetry result. IMF Working Paper No. 17/151. https://doi.org/10.2139/ssrn.3014081
Přejít k původnímu zdroji...
- Liu, L.-J., Creutzig, F., Yao, Y.-F., et al. (2020). Environmental and economic impacts of trade barriers: The example of China-US trade friction. Resource and Energy Economics, 59(2), 101144, https://doi/org/10.1016/j.reseneeco.2019.101144.
Přejít k původnímu zdroji...
- OECD (2020). The Red Book. Arrangement on Officially Supported Export Credit. Paris: OECD. Available at: http://www.oecd.org/officialdocuments/publicdisplaydocumentpdf/?doclanguage=en&cote=tad/pg(2020)1
- Podvrsic, A., Becker, J., Piroska, D., et al. (2020). Mitigating the COVID-19 effect: Emergency economic policy-making in Central Europe. ETUI Research Paper 2020.07. https://doi.org/10.2139/ssrn.3684990
Přejít k původnímu zdroji...
- Pýcha, M. (2021a). Problems with long-term financial sustainability of export credit agencies. Prague Economic Papers, 30(2), 156-170, https://doi.org/10.18267/j.pep.762
Přejít k původnímu zdroji...
- Pýcha, M. (2021b). Fair insurance cover for export credit under oecd pricing framework. Prague Economic Papers, 30(5), 509-528, https://doi.org/10.18267/j.pep.779
Přejít k původnímu zdroji...
- Saghir, W. (2020). Corporate Structure and Governance of Export Credit Agencies: A UKEF Overview. Financial Law Review, 18(2), 1-12, https://doi.org/10.4467/22996834flr. 20.006.12428
Přejít k původnímu zdroji...
- Urban, M., Mejstřík, M., Gutierrez Chvalkovská, J., (2014). Application of the decision support model to Czech exports. Acta Oeconomica Pragensia, 22(2), 33-47. https://doi.org/10.18267/j.aop.430
Přejít k původnímu zdroji...
Tento článek je publikován v režimu tzv. otevřeného přístupu k vědeckým informacím (Open Access), který je distribuován pod licencí Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), která umožňuje nekomerční distribuci, reprodukci a změny, pokud je původní dílo řádně ocitováno. Není povolena distribuce, reprodukce nebo změna, která není v souladu s podmínkami této licence.