Export Credit Agencies, Trade Finance, and South East Asia

Abstract

This paper looks at the causes of the reduction in trade finance in South East Asian countries post-1997 with a particular focus on the role of export credit agencies. It concludes that while such agencies did not cause or prolong the problem they did not contribute significantly to a solution. The paper also suggests some implications from events in South East Asia for both traditional debt-relief mechanisms and for the architecture of the international financial system.

Keywords: Export credit agencies, trade finance, South East Asian countries

JEL Classification: F19, F32, F43, F49, G15, N75