Export Credit Agencies, Trade Finance and South East Asia

IMF Working Papers, December 1, 1998

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Export Credit Agencies, Trade Finance and South East Asia

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Bibliographic details

• Authors: Malcolm Stephens
• Published: December 1, 1998
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451976403.001

Summary and central conclusion

• The paper analyzes causes of the reduction in trade finance in South East Asian countries post-1997, with particular focus on the role of export credit agencies.
• Principal conclusion: export credit agencies did not cause or prolong the reduction in trade finance, but they also did not contribute significantly to resolving the problem.
• The paper draws implications from events in South East Asia for both traditional debt-relief mechanisms and for the architecture of the international financial system.

Findings on trade finance dynamics (post-1997)

• Reduction in trade finance in South East Asian countries after 1997 is the central empirical phenomenon examined.
• Export credit agencies are assessed as neither a primary cause nor a significant mitigating force in the decline of trade finance.

Policy implications and analysis themes

• Implications are suggested for traditional debt-relief mechanisms based on the South East Asian experience.
• Implications are suggested for the architecture of the international financial system arising from the observed trade finance disruptions.

Subject areas and keywords covered

• Subject areas listed: Banking, Credit, Exchange rates, Export credits, Exports, Financial institutions, Foreign exchange, International trade, Money, Multilateral development institutions, Trade finance.
• Keywords include: bank supervisor, capital market, Credit, East Asia, exchange rate, Exchange rates, Export credit agencies, Export credits, exporters in South East Asia, foreign currency, local bank, Multilateral development institutions, private sector, providing working capital, short-term debt, South Asia, South East Asian countries, trade credit, trade credit facilities, trade finance, trade finance equivalent, trade insurer, trade line, type export, working capital facilities, WP.

Content in this bundle

• Export Credit Agencies, Trade Finance, and South East Asia - WP/98/175
  • Export Credit Agencies, Trade Finance, and South East Asia - WP/98/175 (Markdown version)
  • Export Credit Agencies, Trade Finance, and South East Asia - WP/98/175 (PDF)