The Role of Export Credit Guarantees in the Improvement of Business Environment in the European Union

Abstract

Abstract. The role of export credit guarantees in the improvement of business environment of the European Union (EU) is an important topic, since in recent years export to a number of the EU member states has become unpredictable. The aims of the research are to study the existing export credit guarantee system in the EU, to identify its advantages and drawbacks, as well as elaborate a solution to its improvement. Quantitative and qualitative data analysis methods, as well as analytical and graphical methods have been used in the research. Based on the analysis, it is concluded that the resuming of the availability of export credit guarantees is highly desirable in order to help the EU crisis-affected member states to recover from the financial and economic problems and to promote the development of the entire EU.

Macroeconomic policy regimes in emerging markets: the case of Latvia

“…23 However, in the period thereafter, the value of export guarantees fell relative to the value of exports back to the level of 0.1 per cent in 2012 (Latvian Guarantee Agency). According to Andersone/Bogdanova (2013), the number of export guarantees in Latvia has been lower than in the EU (2013). 24 The fact that the biggest share of guarantees in all the years for which there are available data (2009-2012) have been granted in the wood and wood-processing industry (which is not a high value-added industrial sector) justifies the argument that there has been a lack of success in improving the income elasticity of exports; that is, the proposed strategy has not been followed.…”

“…It is a great challenge to find data about the use of these instruments, especially for Latvia, as its government introduced an active export promotion strategy only recently. Most of the offered government supports for exporters is in the form of undertaking market research, organisation of trade missions, seminars, national stands and company matchmaking (Andersone/Bogdanova 2013). Out of the limited financial instruments the government used to support the exporters, I am going to focus on export guarantees.…”