FINANCIAL AND ECONOMIC REGULATION

IVANOVA Iryna

Export credit agencies in the system of state financial support of export

In the vast majority of countries support of export is a complex system of interrelated and interacting state and no-state institutions, in which export credit agencies play a key role. Such support system provides significant advantages in global markets competition for domestic companies and fosters expansion of foreign trade, justifying public expenditures for these purposes. Taking into account international experience, the concept of export credit agencies, which are specialized financial organizations, is reviewed, and the main types of their activity, including insurance, crediting and guaranteeing, are stated. Besides, the efficiency and profitability of insurance of export credits for exporters are examined. The study considers three basic forms of incorporation of export credit agencies and options of public resources participation in their creation. The trend of convergence of insurance and banking sectors during implementation of foreign trade operations is identified. The main aspects of the International Union of Credit and Investment Insurers (the Berne Union) are shown. It is concluded that entire export development in Ukraine is impossible without introduction of state financial support of export taking into account practical aspects of international experience. The paper provides recommendations on key areas of establishment of state financial support of export development and elaboration of appropriate legislation in Ukraine.

Keywords: export, export credit agencies, foreign trade.

JEL: F10, F13

IVANOVA I. . Export credit agencies in the system of state financial support of export / I. . IVANOVA // Фінанси України. - 2014. - № 3. - C. 51-60.