Some Lessons and Guiding Principles for the Establishment of ECAs
摘要
It is an incontrovertible fact that export credit agencies (ECAs) are essential for export development in developing and developed countries. ECAs were vital to nurturing and sustaining industrialisation among developed countries in the early-to-mid 1900s and were crucial for industrial take-off in many developing countries in Asia, Latin America, and Eastern Europe during the second half of the twentieth century. By expanding access to export markets, even the riskiest markets, ECAs allowed national strategic sectors to build additional capacities and expand investments in product innovation. In a world where trade still plays a role in shaping the economic progress, ECAs have become vital tools of trade and international policies. However, national and even regional ECAs can only be as effective as the forces that underpin then. In this Chapter, we summarise the key conclusions of this Book, with emphasis on key principles and considerations for successful ECAs.