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Accumulation and Mobilization of Capital for Sustainable Development – Historical Perspective and Significance of ECA Financing
Author(s) -
Kumar Ashish
Publication year - 2019
Publication title -
global policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.602
H-Index - 33
eISSN - 1758-5899
pISSN - 1758-5880
DOI - 10.1111/1758-5899.12709
Subject(s) - context (archaeology) , currency , agency (philosophy) , capital (architecture) , mobilization , business , export credit agency , sustainability , perspective (graphical) , finance , developing country , economics , economic growth , monetary economics , political science , biology , artificial intelligence , law , history , archaeology , computer science , paleontology , epistemology , payment , credit card , ecology , philosophy , credit card interest
Economic development is closely related to accumulation and mobilisation of capital, sources of which can either be domestic or foreign. In a developing country context, foreign capital has emerged as an important source of supplementing domestic capital, and is increasingly being channelised through official export credit agency (ECA) support. For this support to have a lasting impact, it is important that projects are designed and developed in a coordinated manner with strong involvement of the host country. Simultaneously, it is critical to devise mechanisms such as local currency financing to ensure the sustainability of such support.