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.
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