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OECD Export Credit Agencies: Supplementing Short-Term Export Credit Insurance during the 2008 Financial Crisis

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  • Pamela Blackmon

Abstract

The 2008 financial crisis impacted international trade in part due to decreases in trade finance and export credit insurance. This article shows that Organization for Economic Cooperation and Development (OECD) member states used their public Export Credit Agencies (ECAs) to supplement the lack of private short-term export credit insurance as a means to increase trade. All OECD states, except Greece and Estonia, either increased the capacity of their ECAs to provide short-term export credit insurance, or they developed new products for this purpose. More generally, states that changed their short-term export credit insurance programs had major trading partners with defaults.

Suggested Citation

  • Pamela Blackmon, 2016. "OECD Export Credit Agencies: Supplementing Short-Term Export Credit Insurance during the 2008 Financial Crisis," The International Trade Journal, Taylor & Francis Journals, vol. 30(4), pages 295-318, August.
    • Handle: RePEc:taf:uitjxx:v:30:y:2016:i:4:p:295-318
    DOI: 10.1080/08853908.2016.1199983
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    References listed on IDEAS

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    1. Mr. Thomas William Dorsey & Mika Saito & Armine Khachatryan & Ms. Irena Asmundson & Ioana Niculcea, 2011. "Trade and Trade Finance in the 2008-09 Financial Crisis," IMF Working Papers 2011/016, International Monetary Fund.
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    5. Jagdish N. Bhagwati, 2004. "In Defense of Globalization: It Has a Human Face," Rivista di Politica Economica, SIPI Spa, vol. 94(6), pages 9-20, November-.
    6. Koen van der Veer, 2010. "The Private Credit Insurance Effect on Trade," DNB Working Papers 264, Netherlands Central Bank, Research Department.
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    Cited by:

    1. Andreas Klasen & Jan Vassard, 2023. "The new OECD arrangement on export credits: Breakthrough or bad compromise?," Global Policy, London School of Economics and Political Science, vol. 14(5), pages 958-961, November.

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