THE RELATIONSHIP BETWEEN EXPORTS, CREDIT RISK AND CREDIT GUARANTEES

This paper provides an understanding of how the export credit worthiness of an importing country affects export sales of agricultural and other manufactured products and how export credit guarantees or insurance can mitigate risks of non-payment. A theoretical model is developed. It shows how risk mitigation through export credit insurance could increase exports to high risk importing countries. The key result is that the export response curve is more inelastic in the presence of payment risk, and the effect of insurance is to make the export curve more elastic. Statistical evidence supports this fundamental premise.International Relations/Trade,

THE RELATIONSHIP BETWEEN EXPORTS, CREDIT RISK AND CREDIT GUARANTEES

This paper shows how risk mitigation through export credit insurance could increase exports to high risk importing countries. The key result is that the export response curve is more inelastic in the presence of payment risk, and the effect of insurance is to make the export curve more elastic. Statistical evidence supports this fundamental premise.International Relations/Trade,

Problem 87-11: Monotonicity of Bessel functions

No abstract

Sound transmission in a slowly varying lined flow duct

Sound transmisslon through straight circular duels with a uniform (inviscid) mean flow and a constant acoustic lining (impedance wall) is classicaIly described by a modal expansion. A natural extansion for ducts with, in axial direction. slowly varying properties (Iike diameter. wall impedance, and mean flow) is a muttiple-scales solution. It is shown in the present paper that a consistent approximation ol boundary condition and mean flow allows the multiple-scales problem to have an exact soIution. Tuming points and other singularities of this soIulion are discussed

Empirically Analyzing the Impacts of U.S. Export Credit Programs on U.S. Agricultural Export Competitiveness

This paper looked at the on the ongoing debate on the use of public export credit programs and their impact on US exports. Our results indicate that cost saving is significant beneficial to the importing countries as a result of the export credit programs. There is also an increase in US exports as a result of the US export credit programs. However, there is a reduction in cost savings to the importing countries when the length of repayment of export credit is 180 days. Thus, the more restrictive terms and conditions of officially supported export credits which the WTO is trying to discipline based on their implicitly subsidized components will have some adverse impact on the importing countries.International Relations/Trade,