Access to Preshipment Export Finance : Do Guarantees Help?

Alavi, Hamid

World Bank, Washington, DC

关键词: ADMINISTRATIVE COSTS;    ADVISORY SERVICE;    APPLICATION PROCESS;    ASSETS;    BANK LOANS;   

RP-ID  :  40918

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Many small- and medium-sized emergingexporters in developing countries have inadequate access toshort-term working capital to finance their exporttransactions. This is mainly due to a market failureresulting from informational asymmetries on the part ofbanks about exporters' ability to execute export ordersaccording to buyers' standards of quality, cost, anddelivery. Several countries have established pre-shipmentexport finance guaranty facilities to help alleviate thismarket failure. Their aim is to act as catalyst totemporarily share nonperformance risks of exporters with thebanks, allowing the banks to evaluate nonperformance risksof emerging exporters. Some countries have implemented thesefacilities successfully encouraging banks to providepre-shipment finance without guarantees, while others havenot. This note draws on Tunisia's experience to outlinethe necessary conditions for the success of these facilities.