The Role of Export Credit Agencies in Trade Financing

A characteristic feature of the modern global economy is the deepening economic interdependence and increasingly closer business-to-business trade relations. The growth of international trade has been significantly supported by transaction financing mechanisms. Extensive use of traditional as well as innovative trade finance instruments, both long and short-term ones, was one of the reasons why world trade experienced a rather rapid expansion in the first decade of the 21st century. Export credit agencies have played a meaningful role in the financing international transactions. The aim of this monograph is to assess the operations of export credit agencies in the face of changes occurring in the international market.