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Essays on pensions, health expectancy and credit insurance

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  • Zheng, J.

    (Tilburg University)

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    Abstract

    The choice of payment terms has increasingly become more important in determining the success of exporting transactions. While exporters often use Open Account (OA) terms to secure international contracts and to expand export levels, these terms in turn make them face more non-payment risks. In Export Credit Insurance and Trade Promotion, we present a theoretical model showing the competitiveness of OA terms in international trade, and the risk-reducing as well as export-enhancing role played by export credit insurance programs. Our theoretical analysis shows that, when exporters are risk averse, these programs are always effective without breaking the legal and financial obligations. Using Chinese export and insurance data, both static and dynamic models show a positive and statistically significant export-promoting effect of export credit insurance in China. The insurance effect across income groups also suggests the success of export credit insurance in diversifying export destinations.

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    Bibliographic Info

    Paper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-5661243.

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    Length: 147
    Date of creation: 2012
    Date of revision:
    Publication status: Published
    Handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-5661243

    Note: Dissertation
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    Web page: http://www.tilburguniversity.edu/

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    1. Gabriel J. Felbermayr & Erdal Yalcin, 2011. "Export Credit Guarantees and Export Performance:An Empirical Analysis for Germany," Ifo Working Paper Series Ifo Working Paper No. 116, Ifo Institute for Economic Research at the University of Munich.
    2. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934 Elsevier.
    3. Pol Antràs & C. Fritz Foley, 2011. "Poultry in Motion: A Study of International Trade Finance Practices," NBER Working Papers 17091, National Bureau of Economic Research, Inc.
    4. Harald Badinger & Thomas Url, 2012. "Export Credit Guarantees and Export Performance. Evidence from Austrian Firm-Level Data," WIFO Working Papers 423, WIFO.
    5. JaeBin Ahn, 2011. "A Theory of Domestic and International Trade Finance," IMF Working Papers 11/262, International Monetary Fund.
    6. Mary Amiti & David E. Weinstein, 2011. "Exports and Financial Shocks," The Quarterly Journal of Economics, Oxford University Press, vol. 126(4), pages 1841-1877.
    7. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    8. Moser, Christoph & Nestmann, Thorsten & Wedow, Michael, 2006. "Political risk and export promotion: evidence from Germany," Discussion Paper Series 1: Economic Studies 2006,36, Deutsche Bundesbank, Research Centre.
    9. Dewit, Gerda, 2001. "Intervention in risky export markets: insurance, strategic action or aid?," European Journal of Political Economy, Elsevier, vol. 17(3), pages 575-592, September.
    10. Filip Abraham & Gerda Dewit, 2000. "Export Promotion Via Official Export Insurance," Open Economies Review, Springer, vol. 11(1), pages 5-26, January.
    11. Koen van der Veer, 2010. "The Private Credit Insurance Effect on Trade," DNB Working Papers 264, Netherlands Central Bank, Research Department.
    12. Peter Egger & Thomas Url, 2006. "Public Export Credit Guarantees and Foreign Trade Structure: Evidence from Austria," The World Economy, Wiley Blackwell, vol. 29(4), pages 399-418, 04.
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