The Export—Import Bank
An Economic Analysis
- 1st Edition - January 28, 1983
- Imprint: Academic Press
- Author: David P. Baron
- Editor: Karl Shell
- Language: English
- Paperback ISBN:9 7 8 - 1 - 4 8 3 2 - 3 5 8 9 - 9
- eBook ISBN:9 7 8 - 1 - 4 8 3 2 - 6 8 5 3 - 8
The Export—Import Bank: An Economic Analysis provides a critical analysis of the export financing issue and the Eximbank's performance in fulfilling its congressional mandate. The… Read more
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Request a sales quoteThe Export—Import Bank: An Economic Analysis provides a critical analysis of the export financing issue and the Eximbank's performance in fulfilling its congressional mandate. The analysis is based on extensive interviews with Eximbank officials and on numerous internal documents in addition to published materials. This book is composed of 11 chapters that reflect the three perspectives on Eximbank’s performance. First, an analysis of the need for such financing is presented in conjunction with an assessment of the competitiveness of U.S. programs compared with those provided by other nations. Second, Eximbank performance is evaluated in terms of the cost of its programs, their potential welfare impacts, and the likely impact on U.S. exports. Third, an evaluation is provided of the Eximbank's decision making and its methodology for evaluating the impact of its direct credit program. Recommendations are made concerning U.S. export financing objectives, strategies for achieving those objectives, and Eximbank administrative procedures. This work also provides an economic analysis of Eximbank financing and includes a case study of Eximbank decision making in the granting of a $200 million aircraft credit to Ansett Airlines of Australia. This book will prove useful to those who are interested in international trade and finance, as well as those concerned more broadly with government intervention in markets.
Preface1. Eximbank: The Controversy, Its Mandate, and Its Programs I. The Controversy II. The Origin and Functions of the Eximbank III. The Principal Features of the Export-Import Bank Act of 1945 IV. Eximbank Programs V. Related Organizations VI. International Agreements Pertaining to Export Credits VII. Policy Issues Associated with the Eximbank References2. A Review of the Bank's Activities: 1970-1981 I. Introduction II. Eximbank Performance III. PEFCO IV. Conclusions References3. The Economic Justification for the Programs of the Eximbank I. Introduction II. Capital Market Imperfections III. Capital Market Deficiencies IV. Promotion of Exports, the Balance of Payments, and Employment V. Maintaining U.S. Product Dominance VI. Concessionary Export Financing as Aid VII. Meeting Foreign-Subsidized Export Financing VIII. Conclusions References4. The Supply and Demand for Government-Supported Export Financing I. Introduction II. The Demand for and Supply of Government Financing of International Trade III. The Response to Challenges to the Eximbank IV. Conclusions References5. The Competitiveness of Eximbank Programs I. Introduction II. Official Export Financing Programs of Six Major Trading Countries III. The Level of Official Export Financing IV. Analysis of the Disposition of Preliminary Commitments V. Surveys of Exporters VI. Conclusions Appendix 5.A. The Export Financing Programs of Six Other Countries References6. The Subsidy Provided by Eximbank Financing I. Introduction II. Estimates of the Subsidy III. The Subsidy Provided by an Eximbank Credit IV. Estimation of the Subsidy V. Analysis of the Direct Credit Data VI. Conclusions Appendix 6.A. Derivation of the Subsidy Provided by an Eximbank Credit and the Blended Interest Rate on a Credit Appendix 6.B. Eximbank Country Risk Groups References7. The Welfare Consequences of Concessionary Export Financing I. Introduction II. The Nature of the Welfare Effects of Concessionary Export Financing III. Estimates of the Net Cost of Eximbank Concessionary Financing IV. Conclusions Appendix 7.A. The Discount Elasticity of the Export Price References8. Additionality and Its Measurement I. Introduction II. The Treasury Study of FY1978 Eximbank-Supported Exports III. The Eximbank Studies IV. A Critique of the Additionality Studies V. The Information Problem VI. An Alternative Approach to the Measurement of Additionality References9. A Test of Additionality I. Introduction II. Additionality and Aircraft Financing III. The Bank's Aircraft Financing Policy IV. The FY1979-1981 Aircraft Credits V. The Model and Hypotheses Tested VI. Results VII. Conclusions VIII. An Extension of the Methodology to All FY1980-1981 Credits Appendix 9.A. Aircraft Export Financing, FY1979 Appendix 9.B. Aircraft Export Financing, FY1980 Appendix 9.C. Aircraft Export Financing, FY1981 References10. The Ansett Case I. Introduction II. The Aircraft Offers III. The Airbus Financing Offer IV. The Eximbank Board Meetings V. Analysis of the Subsidy Provided by the Eximbank Financing VI. Analysis of the Bank's Decision Making in the Ansett Case VII. Implications for the Bank's Decision-Making Process Appendix 10.A. Calculation of the U.S. Dollar Interest Rate Equivalent to the Airbus Financing Offer Appendix 10.B. Calculation of the Subsidy on the 727 and 737 Financing References11. The Future Role of the Eximbank I. Introduction II. U.S. Objectives and the Eximbank III. Achieving Export Financing Objectives IV. The Operation of the Bank in Its Present Form V. Conclusions ReferencesIndex
- Edition: 1
- Published: January 28, 1983
- No. of pages (eBook): 356
- Imprint: Academic Press
- Language: English
- Paperback ISBN: 9781483235899
- eBook ISBN: 9781483268538
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Karl Shell
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Cornell UniversityRead The Export—Import Bank on ScienceDirect