This book assesses the politics and programs of the U.S.
Export-Import Bank and their relevance to U.S. trade policy.
Focusing on the direct loan program for large credits with
maturities of more than five years, the authors evaluate the broad
criteria employed by the Bank in its decision-making process and
the resulting allocation of Bank resources. They also examine the
distribution of Bank loans and subsidies across industries and
relate this to key industry characteristics such as comparative
advantage and export dependence. The problems faced by the Eximbank
in recent years-high borrowing costs, intensified export credit
competition, limited resources, increased risks, conflicting
mandates to be competitive yet self-sustaining --have given
tremendous importance to the careful articulation of policy and
administration of programs. The authors find Bank policies to be
broadly supportive of the U.S. trade policy goals, but also
identify several areas of inconsistency and lack of definition and
offer alternative means of specifying criteria to overcome these
problems.
General
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