INTERNATIONAL EXPERIENCE OF ECA’S ACTIVITIES IN STIMULATING INVESTMENT ACTIVITY
Journal Title: Проблеми системного підходу в економіці - Year 2017, Vol 5, Issue 61
Abstract
The article analyzes the international experience of creating a specialized institution that contributes to expanding the country’s export potential, attracting investment and overcoming information asymmetry, which is especially important in the post-crisis period of recovery of economic growth. The role of export-credit agencies in stimulating capital investments of enterprises belonging to the public sector has been noted. The features of the agencies’ work depending on the form of ownership are outlined. Emphasis is placed on ECA’s ability to invest at the expense of its own financial resources involved in international financial markets through the issuance of debt securities. The world’s leading export-credit agencies relying on their own investment rating are able to raise capital in domestic and foreign markets. These financial resources are diverted to support investment projects. These projects contribute to the implementation of the country’s foreign economic policy and correspond to the basic concepts of the Sustainable Development concept and are aimed at implementing a long-term strategy for economic growth. Financing of investment contract insurance covers insurance of investments abroad and insurance of investment loan abroad is not so costly, therefore, it is usually included in the ECA standard package. During the last financial crisis, the lack of financial resources in the credit and insurance markets has restored interest to financing instruments that can offer export credit agencies. The study of the best international experience of ECA’s activities will help to formulate the concept of a national agency for stimulating exports and support investment contracts, which is undoubtedly important for the private sector, but which is especially relevant for enterprises belonging to the public sector, as it contributes to the growth of their export potential, profitability and stimulates capital investment.
Authors and Affiliations
I. V. Kornieieva
Keywords
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