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An Analysis of a Rules-based Approach to Disciplining Export Credits in Agriculture

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  • James Rude
  • Jean-Philippe Gervais

Abstract

This paper examines the comparative static effects of rules-based disciplines for government supported export credit arrangements. The arrangements provide traders in the country offering the guarantees more favourable borrowing conditions. This may provide an advantage relative to rival exporters since the supported trader may offer better financial terms to importers. Rules that discipline implicit interest rate subsidies are appropriate when an importing country does not face liquidity constraints when borrowing. However, these rules may not be appropriate with liquidity constraints because of the potential for additionality and benefits for all exporting countries. Rules on benchmarks for insurance premiums are always appropriate because insurance subsidies unambiguously have the potential to distort markets.

Suggested Citation

  • James Rude & Jean-Philippe Gervais, 2007. "An Analysis of a Rules-based Approach to Disciplining Export Credits in Agriculture," International Economic Journal, Taylor & Francis Journals, vol. 21(3), pages 441-463.
  • Handle: RePEc:taf:intecj:v:21:y:2007:i:3:p:441-463
    DOI: 10.1080/10168730601027195
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    References listed on IDEAS

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    1. Dahl, Bruce L. & Johnson, D. Demcey & Wilson, William W. & Gustafson, Cole R., 1995. "Credit Guarantee Programs in International Grain Markets: Background and Issues," Agricultural Economics Reports 23331, North Dakota State University, Department of Agribusiness and Applied Economics.
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    Cited by:

    1. Rienstra-Munnicha, Paul & Mulik, Kranti & Koo, Won W., 2006. "Empirically Analyzing The Impact Of U.S. Export Credit Programs On U.S. Agricultural Trade," Agribusiness & Applied Economics Report 23644, North Dakota State University, Department of Agribusiness and Applied Economics.

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