As the COVID-19 pandemic hits economic activity, the vulnerabilities of longer and more geographically extended trade credit chains are coming to the fore, especially those related to international trade.While risk mitigation is available from financial intermediaries, the bulk of the exposures...

Germany was considered the world's export champion for a long time, until it was overtaken by China in 2009. Both nations provide officially supported export credits to national exporting organizations, but the two systems operate differently. German export credit guarantees serve as a...

The global pathway to net zero emissions by 2050 requires governments to implement and strengthen climate policies as global emissions are reaching record level. Climate finance plays a crucial role in the net zero transition. It refers to local, national or transnational financing seeking to...

The aim of this essay is to point out the challenges and opportunities of government export credits and insurance in Europe. The Covid-19 pandemic confronted the entire world with new challenges. This also applied to the export financing and insurance market. Furthermore, there are also...

This paper examines and evaluates the challenges and opportunities of export credit agencies (ECA) in the Middle East and North Africa (MENA) region. Political risks, unrest and instability made exports in the MENA region arduous. Further challenges are demonetization, the lack of reliable...

Letter of credit — a financial term, one of the types of payment instruments between the participants of export-import contract. Today the letter of credit is recognized by financiers in all over the world as the most universal way of payment in foreign economic activity. The letter of credit...

This paper evaluates the impact of two export finance support schemes: The Export Finance Scheme (EFS) and the Long-Term Finance Facility for Plant & Machinery (LTFF) on firm-level export performance. These policies offer loans to exporters at concessionary interest rates to finance short-term...

This paper evaluates the impact of two export finance support schemes: The Export Finance Scheme (EFS) and the Long-Term Finance Facility for Plant & Machinery (LTFF) on firm-level export performance. These policies offer loans to exporters at concessionary interest rates to finance short-term...

This study evaluates four machine learning (ML) techniques (Decision Trees (DT), Random Forests (RF), Neural Networks (NN) and Probabilistic Neural Networks (PNN)) on their ability to accurately predict export credit insurance claims. Additionally, we compare the performance of the ML techniques...

Using Japanese firm data covering the Japanese financial crisis in the early 1990s, we find that exporters' domestic sales declined more significantly than their foreign sales, which in turn declined more significantly than non-exporters' sales. This stylized fact provides a new litmus test for...

In response to the challenges resulting from the COVID-19 pandemic, governments are looking to their Export Credit Agencies (ECAs) to fill any financing gaps left by the private market and to mitigate the impact of the crisis by engaging in both short-term (ST) and medium- and long-term (MLT)...

This chapter assesses the role of firms' financial resources used to begin export activity. We propose a new methodology to identify a priori constrained firms, exploiting a rich dataset on Italian firms' assets and liabilities. We provide evidence that the entry probability in the export market...

The Late Middle Ages (c.1300–c.1500) saw the development of many of the key economic institutions of the modern unitary nation-state in Europe. After the ‘commercial revolution’ of the thirteenth century, taxes on trade became increasingly significant contributors to government finances,...

Trade finance serves as the lifeblood of the day-to-day international trade in goods and services. Due to the significant impact of the Coronavirus pandemic (COVID-19) on the world economy, concerns are growing with respect to the cost and availability of trade finance. In response to these...

"Global trade is a key driver for economic growth, and trade is related to several dimensions: The Fourth Industrial Revolution (4IR) with disruptive technologies, globalisation of markets, innovation leading to new trade opportunities, as well as foreign investments following exports lead to...

Introduction -- International sale of goods -- The sales contract -- Letters of credit -- Non-establishment forms of international business : agency and distributorships, technology transfer, contract, manufacturing, and franchising -- Foreign direct investment -- Protecting intellectual...