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The Case for Regional Cooperation in Trade and Investment Finance for Asia
Author(s) -
Chatterjee Arup,
Goswami Arjun,
Hugot Jules,
Vital Marianne
Publication year - 2020
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 - 10.1111/1758-5899.12782
Subject(s) - leverage (statistics) , investment (military) , agency (philosophy) , regional trade , international trade , export credit agency , trade finance , business , finance , international investment , economics , international economics , foreign direct investment , free trade , political science , public finance , macroeconomics , payment , philosophy , epistemology , credit card interest , machine learning , politics , credit card , computer science , law
This article reviews the evolution of the role of export credit agencies (ECAs) and their impact on trade and investment. We argue that regional cooperation in Asia would foster regulation and facilitate access to trade and investment finance. Regional cooperation could take the form of regulation aiming at levelling the playing field; or it could go further, with the creation of a multilateral agency that would leverage the industry’s best practices and a good credit standing to facilitate access to trade and investment finance across Asia, particularly in the countries where availability is limited. We review the lessons learnt from existing multilateral ECAs and national ECAs in Asia and argue that these should be carefully considered when designing a new regional ECA.