Suchergebnisse

Incessant growth of world trade and of overseas investments, and the shirts In their structure, are reflected In changes affecting International trade relations. The present article discusses the rising political and economic risks to which exports are exposed, and the consequent growth of demand for insuring export credits and direct Investments.

The first practitioner handbook on export credit insurance and guarantees, providing manufacturers, exporters, bankers, and lawyers with a much needed resource. The book contains descriptions and analyses of almost every type of export credit insurance and guarantee used in international trade with explanations about the risks inherent in each.

In the context of the turbulent international political situation, the uneven development of social development and the stagnation of economic development in recent years, China's promotion of foreign trade and economic transformation and upgrading and the "Belt and Road" strategy are necessary to pay more attention to the research and control of export credit risks, so policy exports is particularly urgent and important for credit insurance institutions to conduct research on credit risk control activities in support of the "going out" process of Chinese goods and capital. At the same time, unlike general commercial financial institutions, the starting point and foothold of credit risk management of policy financial institutions should be "maximizing social benefits" rather than the "maximum economic benefits" of traditional risk management theories. The target set of the risk management system of the export credit insurance institution is repositioned. Therefore, this paper attempts to sort out the research results of the existing policy-oriented export credit institutions, and from the perspective of comprehensive risk management, through the analysis of the characteristics and difficulties of the credit risk management of policy-oriented export credit insurance institutions, the company builds a comprehensive credit risk management system. The ideas and structure are discussed, and preliminary suggestions are put forward on the basis of this, in order to provide reference for the company to further improve the comprehensive risk management system.

Gives an introduction to the market for export credit insurance; outlines governments' motives for entering this market and the regulations which already exist at the global level in order to keep this support in check. Examines the disciplining initiatives and development in this issue area within the EU. Examines which strategies have been chosen in the case of state aids through credit insurance and which factors have dominated this process. Describes the interaction between policymaking at the regional and global levels. Unhappy with progress in Europe, the UK decided to bring the credit insurance issue to the OECD.

Abstract
Export credit insurance plays an important role in promoting exportation, and thus it represents a guarantee of payment receivable for exporter. It not only offers a good way to disperse and release risk caused by uncertainty of foreign countries and importers' credit, but also inspires a good finance support for exporter. Export corporations can apply loan from banks easily with the guarantee of export credit insurance. Characterized with lower threshold, export credit insurance finance(ECIF) becomes a good funding choice especially for small and medium companies and brings considerable intermediate businesses to commercial banks. Despite the benefits of ECIF, false trades appear frequently due to the intricate risks that are hard to be measured by quantitative method. The risks covered by export credit insurance include commercial risk and political risk. Commercial risks can be classified by two reasons: importer bankruptcy and importer collusion with exporter. The risk of insolvency can be measured by modern credit risk models, however, the probability that importer breaches a contract due to dishonesty is hard to be discerned because of information asymmetry and high cost of investigation. In ECIF, the risk is even harder to be measured as risks form both importer and exporter are involved. Game theory is widely used in adverse selection and moral hazard. The application of game theory inspired a microeconomic way of risk analysis in ECIF. The case of ECIF can be a seen as a game among the export enterprise, importer, insurer and bank. This paper will figure out the utility of each party under certain default situation and analyze each risk factor. We adopt joint game approach and tree model to obtain the equilibrium result. The purpose is to maximize the expected utility of each party and minimize the probability of exporter and importer's collusion as they are the core reasons for the loss of commercial bank and export credit agency (ECA). Since the export credit insurance industry and related risk research are still in the early stage in China, we hope this study can enlighten a new way of risk analysis on ECIF.

STATES HAVE CHOSEN VARIOUS INTERNATIONAL FORA TO NEGOTIATE ON THE DISCIPLINING OF STATE AIDS THROUGH EXPORT CREDIT INSURANCE: THE GATT, EUROPEAN UNION (EU) AND THE OECD. ALTHOUGH ON A GLOBAL LEVEL THE VIOLATION OF THE STRICT GATT RULES ON EXPORT CREDIT INSURANCE COULD BE IGNORED, ON THE REGIONAL EU LEVEL, MARKET INTEGRATION AND COMPETITION AND COMMON COMMERCIAL POLICIES CREATED PRESSURES TO HARMONIZE NATIONAL CREDIT INSURANCE POLICIES. IN THE RESULTING REGIONAL NEGOTIATING PRECESS, INTERGOVERNMENTAL FACTORS HAVE PREVAILED OVER SUPRANATIONAL/TRANSNATIONAL FACTORS. NEITHER TRANSNATIONAL INTEREST GROUPS NOR THE EUROPEAN PARLIAMENT AND THE COMMISSION HAVE BEEN IMPORTANT ACTORS IN THIS PROCESS. THE REAL POLTIICLA ISSUE OF COMPETITION DISTORTION BETWEEN EXPORTERS OF DIFFERENT MEMBER STATES HAS BEEN TAKEN CARE OF BY THE MEMBER STATES IN A SPECIAL O-ORDINATION GROUP, SET UP BY THE COUNCIL. ALTHOUGH NATIONAL PREFERENCES WITH REGARD TO HARMONIZING OFFICIAL CREDIT INSURANCE POLICY HAVE CONVERGED AS A CONSEQUENCE OF RISING CUMULATIVE DEFICITS ON THESE INSURANCE SCHEMES IN ALL MEMBER STATES AND THE PRESSURE OF MARKET FACTORS SUCH AS INCREASING CROSS-BORDER COOPERATION, THE HARMONIZATION PROCESS APPEARS TO BE CONFINED TO TRANSPARENCY AND HARMONIZATION OF INSURANCE TECHNIQUES AND LIMITED CO-OPERATION AMONG PUBLIC INSURERS IN THE CASE OF CONSORTIUM EXPORTS.

Odabrana tema jednako je aktualna koliko i značajna, jer se odnosi na sektor koji je nositelj velikog broja zaposlenih koji spadaju u kategoriju deficitarnih zanimanja. Istraživanje se temelji ne samo na povijesnoj i komparativnoj metodi, nego i na teorijskim metodama kao što su metoda analize i sinteze te induktivna i deduktivna metoda. Temeljni cilj koji se želi postići izradom rada je nastojati objasniti i povezati, kroz upravljački aspekt, na koji način je poslovima osiguranja izvoza Hrvatska banka za obnovu i razvitak (HBOR) doprinijela oporavku hrvatske brodogradnje. Analizom položaja upravljačke ekonomike brodogradnje u sklopu nacionalne ekonomije, otkrivaju se modeli kojima država utječe na oporavak brodogradnje: financijska potpora, restrukturiranje, privatizacija i osiguranje izvoza. Osiguranje izvoza ima velik utjecaj na oporavak domaće brodogradnje uzme li se u obzir prisutnost visokog stupnja rizika u izvozu. Temeljni cilj osiguranja izvoza je povećanje konkurentnosti hrvatskih brodogradilišta u inozemstvu.