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THEORY OF EXPORT CREDIT INSURANCE.

机译:出口信用保险理论。

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摘要

The present study conducts positive analyses on various aspects of export credit insurance. It is shown that export credit insurance is a useful device to protect domestic exporting firms against various political risks and default risk in the foreign market. Under a certain type of the reimbursement method, export credit insurance can make the exporting firm's production decision independent of the risk and the attitude toward risk.; The government insurance agency can increase the level of exports by setting a lower premium rate. This export promotion effect through export credit insurance is larger when the exporting firm is more risk averse. If the premium rate per coverage is set at a fair rate, a risk averse firm will export as much as a risk neutral firm does in the absence of insurance.; The presence of a domestic market restricts the effectiveness of export credit insurance. If the domestic price is higher than a net foreign price (the foreign price which is discounted by a premium rate), the firm does not export at all even though the insurance is available at a fair rate.; The exporting firms will purchase full coverage of export credit insurance if the premium rate is set at a fair or a more than fair rate. When they do purchase full coverage, they do not spend any money on the self-protecting activities which reduce the export credit risk. Therefore, there exists a problem of moral hazard.
机译:本研究对出口信用保险的各个方面进行了积极的分析。结果表明,出口信用保险是保护国内出口公司免受各种政治风险和国外市场违约风险的有用手段。在某种报销方式下,出口信用保险可以使出口公司的生产决策独立于风险和对风险的态度。政府保险机构可以通过设定较低的保费率来提高出口水平。当出口公司对风险的规避程度更大时,通过出口信用保险进行的出口促进效果会更大。如果将每个险种的保费率设定为公平率,那么在没有保险的情况下,风险规避公司的出口量将与风险中立公司的出口量相同。国内市场的存在限制了出口信用保险的有效性。如果国内价格高于国外净价格(以溢价率折算的国外价格),则即使可以以合理的价格购买保险,该公司也根本不会出口。如果保费率设定为公平或高于公平率,则出口公司将购买全额出口信用保险。当他们购买全额保险时,他们不会花费任何金钱进行自我保护活动,从而降低了出口信贷风险。因此,存在道德风险的问题。

著录项

  • 作者

    FUNATSU, HIDEKI.;

  • 作者单位

    Southern Methodist University.;

  • 授予单位 Southern Methodist University.;
  • 学科 Business Administration General.
  • 学位 Ph.D.
  • 年度 1984
  • 页码 124 p.
  • 总页数 124
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 贸易经济;
  • 关键词

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