The Political Economy of Trade Finance

The Political Economy of Trade Finance provides a detailed analysis as to how firms use the medium and longer-term financing provided by ECAs to export goods to developing countries. It also explains how ECA arrears has contributed to the debt of developing countries and illustrates how the commercial interests of ECA activity are evident decisions about IMF arrangements and how these are related to debt rescheduling through the Paris Club. Finally, the book documents how OECDs used their ECAs in order to supplement private sector finance during the 2008 Global Financial Crisis in order to mitigate the steep declines in international trade.