Introduction and Context
摘要
Export credit agencies (ECAs), also traditionally known as investment insurance agencies, have been in existence since shortly after World War I (WW I) as the preferred institutional form of export credit administration. Following the United Kingdom’s establishment of its Export Credits Guarantee Department in 1919, almost all other advanced economies created national ECAs as instruments of trade, foreign policy, and investment promotion and financing. They served as instruments for boosting the competitiveness of national exports through government-backed loans (in the form of direct lending or interest rate subsidies), guarantee schemes, and insurance to corporations seeking business opportunities in foreign countries.