The Export Credit Arrangement [electronic resource]: Achievements and Challenges 1978/1998 /
Organisation for Economic Co-operation and Development.
Organisation for Economic Co operation and DevelopmentContent Provider
Organisation for Economic Co-operation and DevelopmentContent Provider
Paris : OECD Publishing,
1998.
The Arrangement on Guidelines for Officially Supported Export Credits celebrates its twentieth birthday this year. The 'Arrangement', as the Guidelines are usually known, is a unique form of international co-operation: as a 'gentlemen's agreement', it has no formal status in law – and yet it has brought order to the supply of export credits (government subsidies to exporters), thus saving billions of dollars of taxpayers' money. Thanks to the Arrangement, exporters in OECD countries now compete on the basis of quality and price, not according to the degree of support they receive from the state. Progressive improvements in the Arrangement, moreover, have extended its coverage, preventing trade distortion and subsidy in the form of tied aid and unrealistic premium fees. In this collection of essays, past and present negotiators of the Arrangement's guidelines, Presidents and Chief Executives of export credit agencies, international institutions, private-sector players, economists and others involved with the Arrangement from its earliest days chart its evolution – its inception and progressive expansion, the difficulties encountered and problems solved. They examine the sources of the flexibility that has made the Arrangement so successful in adapting to the changing, globalising world economy. Some of the contributions offer candid insights into the closed world of international negotiations. Others document the response of the Arrangement to the growing sophistication of financial and insurance services. All of them shed light on this increasingly important aspect of international trade.This book will be required reading for anyone interested in the world trading system and the role of export credits in particular, in the relationship between trade and aid, and in international co-operation in general.
Foreword by Donald J. Johnston -- Chapter 1. An Introduction to the Export Credit Arrangement -- Introduction by Janet West -- Flexibility in a Changing World by Kurt Schaerer -- The Multilateral Trade System, the Export Credit Arrangement, and the WTO by Gerhard Abel -- The Arrangement: What It Is All About -- Chapter 2. Past Achievements -- Milestones of the Arrangement -- The Genesis of the Consensus by Rolf Geberth -- The Arrangement from the Inside by John Ray -- The Arrangement from a Spanish Perspective by Soledad Abad Rico, Luis Marti Espluga and Rafael Manzanares Wallen, Helsinki, Schaerer et al -- Some Major Achievements, Some Challenges to Meet by David Stafford -- The Birth of the "Helsinki Package" by Eero Timonen -- Mission Impossible: Enhancing Discipline in Tied Aid by Birgitta Nygren -- Mission Accomplished: Ex Ante Guidance for Tied Aid by Frans Lammersen -- Mission Assessed: What Grounds for Commercial Viability? by Tony Owen -- A Development Cooperation Perspective on the Helsinki Tied Aid Disciplines by Bill Nicol and Gerry Duffy -- The "Knaepen Package": Towards Convergence in Pricing Risk by Pierre Knaepen -- The Ragged Arrangement - or - From RAG to Riches by Bob Crick -- Chapter 3. Future Challenges -- The Economic Policy Benefits of International Cooperation by Timothy F. Geithner -- From Simple to Sophisticated by Hidehiro Konno -- A National Perspective: The View from Germany by Michael Kruse and Eckhardt Moltrecht -- The Export Credit Agency in a Market Environment by Vivian Brown -- Soft Law, Hard Results by Jacques de Lajugie -- A New World for the Export Credit Agencies by A. Ian Gillespie -- Chapter 4. International Institutions' Perspectives -- Export Credit Agencies and the World Bank: A Partnership by Hiroo Fukui -- A Consensus for Change by Noreen Doyle -- The Balances Between Discipline and Effectiveness by Malcolm Stephens -- Chapter 5. Private Sector Perspectives -- A View from the Export Market by Julien de Wilde -- An International Banker's View: Important Developments and the Challenges and Opportunities They Bring by Jan Kalff -- Export Credit in Context by Paul Melly -- The Advance of the Private Sector in Short-Term Export Credit Insurance by Ted Watson -- Chapter 6. And Finally  -- -Postscript by Janet West -- Chairmen of the Participants to the Arrangement on Guidelines for Officially Supported Export Credits
Bibliographic Level Mode of Issuance: Monograph
The Arrangement on Guidelines for Officially Supported Export Credits celebrates its twentieth birthday this year. The 'Arrangement', as the Guidelines are usually known, is a unique form of international co-operation: as a 'gentlemen's agreement', it has no formal status in law – and yet it has brought order to the supply of export credits (government subsidies to exporters), thus saving billions of dollars of taxpayers' money. Thanks to the Arrangement, exporters in OECD countries now compete on the basis of quality and price, not according to the degree of support they receive from the state. Progressive improvements in the Arrangement, moreover, have extended its coverage, preventing trade distortion and subsidy in the form of tied aid and unrealistic premium fees. In this collection of essays, past and present negotiators of the Arrangement's guidelines, Presidents and Chief Executives of export credit agencies, international institutions, private-sector players, economists and others involved with the Arrangement from its earliest days chart its evolution – its inception and progressive expansion, the difficulties encountered and problems solved. They examine the sources of the flexibility that has made the Arrangement so successful in adapting to the changing, globalising world economy. Some of the contributions offer candid insights into the closed world of international negotiations. Others document the response of the Arrangement to the growing sophistication of financial and insurance services. All of them shed light on this increasingly important aspect of international trade.This book will be required reading for anyone interested in the world trading system and the role of export credits in particular, in the relationship between trade and aid, and in international co-operation in general.
Organisation for Economic Co-operation and Development.
Trade
Export credit
Finance
Credit, Debt & Loans
Business & Economics