The Political Economy of Trade Finance: Export Credit Agencies, the Paris Club and the IMF

by Pamela Blackmon

Overview

Export Credit Agencies provide insurance and guarantees to domestic firms in the event that payment is not received from an importer. Thus, ECAs reduce uncertainties domestic firms face in exporting their goods. Most countries have ECAs that operate as official or quasi-official branches of their governments and they therefore represent an important part of government strategies to facilitate trade, promote domestic industry and distribute foreign aid.

The Political Economy of Trade Finance provides a detailed analysis as to how firms use the medium and longer-term financing provided by ECAs to export goods to developing countries. It also explains how ECA arrears have contributed to the debt of developing countries and illustrates how the commercial interests of ECA activity are evident in decisions about IMF arrangements and related to Paris Club debt rescheduling agreements. Finally, the book documents how the medium and longer-term export credit insurance support provided by the G-7 ECAs was a central component in mitigating steep declines in international trade during the 2008 Global Financial Crisis. This book is of great interest to both academics and students in the field of political economy, finance and politics of international trade. It is also of importance to policy makers.

Product Details

ISBN-13:	9781138780569
Publisher:	Taylor & Francis
Publication date:	01/19/2017
Series:	Routledge Frontiers of Political Economy
Pages:	140
Product dimensions:	5.44(w) x 8.50(h) x (d)

About the Author

Pamela Blackmon is Associate Professor at the Department of Political Science, Pennsylvania State University, Altoona, USA. Her research focuses on the policies of the international financial institutions, and she is currently examining the role of ECAs in international trade and finance.

Table of Contents

Introduction

Chapter 1: Insuring and Financing Trade

Chapter 2: Exporting Goods to Developing Countries

Chapter 3: Paris Club Debt Rescheduling and the HIPC Initiative

Chapter 4: The Cyclical Process: the IMF, Debt Rescheduling and Export Credits

Chapter 5: Increasing Trade during the Crisis

Conclusion