![Open Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextgreen.png)
![Restricted Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextred.png)
![Open Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextgreen.png)
![Open Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltext_open_medium.gif)
![Restricted Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltextred.png)
![Restricted Access](https://i-scholar.in/lib/pkp/templates/images/icons/fulltext_restricted_medium.gif)
Export Credit Agencies: OECD Arrangement for Officially Supported Export Credits
Subscribe/Renew Journal
This paper compares and contrasts the OECD Arrangement for Officially Supported Export Credits from its inception in 1978 until the beginning of 2006. Changes to the OECD Arrangement have been made in the area of mixed credits to include a broad array of loan assistance known as tied aid, interest rate determination, the inclusion of new sectors (principally commercial aircraft, nuclear power plants, trial sectors for renewable energy and water projects), the extension of local cost support and slight changes to standard maximum repayment times. Issues to further extend the Arrangement relate principally to the incorporation of OECD environmental impact guidelines, the inclusion of additional product categories and the need to extend project finance and repayment terms to closely match the cashflow requirements of medium-term-to-long-term projects thus improving their flexibility. With the WTO now enjoying observer status in the Arrangement, Participants can now negotiate with the WTO to seek amendments and clarifications within its ASCM particularly in the areas of breakeven status, safe-haven status and Market Windows (MW). Of further concern is the rise of non- OECD ECAs into the global trade area. The OECD has understandings with such ECAs but agreement needs to be reached with them on more concrete export credit disciplines. Failing to do so may cause the OECD Arrangement to come under serious attack and export subsidies will predominate in a more competitive world.
Keywords
ECAs, OECD Arrangement, Market windows, Tied credits, WTO ASCM
User
Information
- Australian Government Department of Foreign Affairs (2002), International Developments in Export Credit and Finance Services: Section XI: WTO Considerations. Available at www.dfat.gov.au/trade/efic_review/int_dev/section_11.html
- Baldwin, Robert E. (1970), Non-Tariff Distortions of Trade. The Brookings Institution.
- Berne Union History. Available www.berneunion.org.uk/history
- ECGD (2004), Report on the Comparison of Export Credit Agencies, April 2004. ECGD, London.
- Export-Import Bank of the United States (2005 and 2006), Report to the US Congress on Export Credit Competition and the Export- Import Bank of the United States. Ex-Im Bank, Washington, USA.
- Export Credit Agency web sites, www.eximbank.info/
- Harmon, Jim, Maurer, C., Sohn, J. and Carbonell, T. (2005), Diverging Paths: What Future for Export Credit Agencies in Development Finance? World Resources Institute.
- Mulligan, R. M. (1982), A Study of Officially Supported Export Insurance and Finance Systems, unpublished PhD Thesis.
- Mulligan R. M. (2007), Export Credit Agencies: Competitive Trends in the G7 and Emerging Economies, Journal of Management Research, 7(1): 47-56.
- OECD (2005), Arrangement on Officially Supported Export Credits. OECD, Paris.
- OECD (2005), Annex X of Export Credit Financing Systems in OECD Member Countries and Non-Member Economies (2005 Update).
- OECD (2004), Statistics on Export Credit Activities (Upto and including the year 2004). OECD, Paris.
- OECD (1976), The Export Credit Financing Systems in OECD Member Countries. OECD, Paris.
- OECD Database. Available http://www.oecd.org/department/0,2688,en_2649_34241_1_1_1_1_1,00.html
- Porter, M. (1998), Competitive Advantage of Nations. The Free Press.
- Stephens, Malcolm (1999), The Changing Role of Export Credit Agencies. IMF
- Summers, Lawrence J. (2000), The Importance of Continuing to Fight Against International Trade Finance Subsidies. US Treasury Office of Public Affairs, available www.ustreas.gov/press/1s631.htm
- Trade Finance Magazine (2003), The Gist of the Matter. Available www.tradefinacemagazine.com
- UNEP: United Nations Environmental Programme (2005), Executive Briefing: Making It Happen; Renewable Energy Finance and the Role of Export Credit Agencies. Available http://sefi.unep.org
- United Nations Organisation (1969), Export Credits and Development Financing. UN.
- White, Theodore H. (1979), In Search of History. Jonathon Cape.
- World Trade Organisation: Roots and History. Available http://www.econ.iastate.edu/classes/econ355/choi/wtoischolar_mains.htm
- World Trade Organisation (2006), World Trade Report: Recent Trade Developments and Selective Trends in Trade. Available http://www.wto.org/english/res_e/booksp_e/anrep_e/wtr06-1a_e.pdf
- Yip, George S. (1989), Global Strategy - In a World of Nations?, Sloan Management Review, Fall.
![](https://i-scholar.in/public/site/images/abstractview.png)
Abstract Views: 385
![](https://i-scholar.in/public/site/images/pdfview.png)
PDF Views: 1