Export credit finance with special reference to EEC countries

Abstract

This thesis reports on research investigating the role of finance in the United Kingdom's export trade, comparing it with finance for similar purposes in France, Western Germany and the Netherlands. In making these comparisons, it concentrates on those aspects of the foreign countries' systems which are different from the United Kingdom's and which are little known in this country. It also seeks to investigate the assistance given by the Governments of all four countries in the provision of finance. Part 1-introduces the research, Part 2 the features of financing which are peculiar to the export trade. Part 3 describes present practice in the United Kingdom and includes a review of developments in the past few decades which have led up to it. It is set in the context of international developments. For each country, the relevant financial and credit insurance institutions are described, again concentrating on those features which are different from this country's. Short commentaries are added. For each country, the relevant financial and credit insurance institutions are described, again concentrating on those features which are different from this country's. Short commentaries are added. The investigation shows that in all countries short-term export finance is available on terms similar to those applying to other forms of short-term finance, while medium and long-term finance attracts Government assistance. All the countries have widened the sources of funds for this purpose. It is found that more Government assistance is available to the United Kingdom exporter than his counterparts. Part 4 discusses the financing needs of different types of market, the measures taken to curb "credit races", and finally discusses the relevance of interest rates to the securing of export business, expressing the opinion that its importance is usually exaggerated.