This study has been prepared in order to research the forms of application of the Service Export Insurance product on the basis of countries in the world, to determine who prefers this product and in ...which situations it is applied. Another aim of the study is to research how it can be applied to economic activities in the most efficient way in our country's own dynamics. Service exports in Turkey were included in the coverage of receivables insurance by Turk Eximbank in 2021. The purpose of this insurance is to protect the forward receivables formed by exporting services against commercial and political risks in order to encourage and develop service exports. In the study, the applications of export credit institutions operating in the global market were researched with the literature review method, and based on these examples, suggestions were made by Turk Eximbank about improvements in existing applications and new applications that are not currently available. In consequence of review of the studies in the field of export, it has been seen that there are studies in different fields, but academic studies on service insurance in exports are very limited, and therefore, it is aimed to bring a study to the literature with this study. (This study was produced from a doctoral thesis.)
The text refers to a specific field of the insurance market, which concerns export insurance by the state-owned insurance corporation (EGAP). In this company, we can find some moral hazard and ...adverse selection due to almost 100% guarantees to insured entities. The paper concerns the relationship between the insurance corporation and banks that grant loan to Czech exporters or foreign importers in high-risk countries. On the part of the bank, there exists adverse selection while submitting applications for insurance and moral hazard during the insurance relationship. These are the problems on the part of the EGAP, which has a conflict between supporting regional export affordability and realizing an optimal portfolio. With such high guarantees, banks can offer their clients high risk while receiving irrelevantly low insurance premiums. This text tries to identify some differences between the existing process of evaluation and the ideal set that decreases the impact of those two effects.
한국을 비롯한 많은 국가에서 수출보험은 수출증진을 위한 수단으로 이용되어 왔다. 무역자유화를 위한 세계무역기구의 출범 이후에도 수출보험은 여전히 수출증진을 위한 주요 수단으로 인식된다. 본 논문은 국내 기업의 해외법인이 체결한 단기수출보험의 자료를 이용하여 수출보험과 관련한 위험요소(수입자의 신용등급, 결제기간, 모기업의 크기)의 각 등급에 따른 ...보험가입금액 대비 보험금 지급비율을 산출한다. 이를 위해 일반화 선형모형을 활용, 모델 선택과정을 거쳐 사고빈도(frequency)와 사고심도(severity)를 각각 음이항분포와 로그노말분포로 적합한다. 그리고 일반화 선형모형의 분석결과를 바탕으로 사고빈도와 사고심도에 미치는 각 위험요소의 등급에 따른 계약건수 대비 평균 사고발생 비율과 보험가입금액 대비 평균 지급비율을 제시한다. 이후 이를 통합함으로써 각 위험요소의 등급별 지급비율의 기댓값을 추정한다. 그리고 이 결과를 이용하여 요율산정에 대한 시사점을 논의한다.
Export credit insurance is a policy tool for export growth. In the era of free trade under the governance of WTO, export credit insurance is still allowed as one of the few instruments to increase exports. This paper, using data on short-term export insurance contracts issued to foreign subsidiaries of Korean companies, calculates the expected loss per exposure by combining the effect of risk factors (credit rate of foreign importers, size of mother company, and payment period) on loss frequency and loss severity in different levels. We, applying generalized linear models (GLM), first fit loss frequency and loss severity to negative binomial and lognormal distribution, respectively, and then estimate the loss frequency rate per contract and the ratio of loss severity to coverage amount. Finally, we calculate the expected loss per exposure for each level of risk factors by combining these two rates. Based on the result of statistical analysis, we present the implication for the current premium rate of export insurance.
The article aims to assess the system for supporting Polish exports in 2000-2009, with a particular focus on exports to high-risk countries. The authors review the available support instruments and ...evaluate the work of Poland's Export Credit Insurance Corporation (KUKE), an institution that plays a key role in this system. The authors rely on a method based on analyzing the contents of documents and legal regulations-enacted by Poland, the European Union, the World Trade Organization (WTO) and the Organization for Economic Cooperation and Development (OECD)-concerned with issues related to export support. The authors also examine statistical data, conduct in-depth interviews, and use information from publicly available reports on the activities of the Export Credit Insurance Corporation. The decade covered by the study is not a uniform period, the authors say. They divided it into two subperiods: the time from 2000 until Poland's EU entry in 2004, and the EU membership years (2004-2009). In the latter subperiod, special attention was paid to 2008 and 2009, the years of economic crisis. The analysis of changes taking place in the official system for supporting exports with the use of Treasury guarantees shows the government's role in the development of exports by Polish enterprises. The study also shows how the external environment, including Poland's status as an EU member as well as international regulations and fluctuations in international markets, influence the system's functioning. The authors conclude that the system has played an insufficient role in promoting Poland's exports so far, particularly in the case of small and medium-sized enterprises. This was especially evident during the latest crisis, the authors say. The Polish export support system requires far-reaching changes, according to the authors. Most of the initiatives mentioned in official government documents are declarations and tentative proposals not followed by specific projects. This approach did not even change during the recent crisis when the Polish government, unlike its counterparts in other EU countries, failed to markedly step up measures aimed at boosting exports. Not only proposals but also concrete and consistent steps-jointly taken by many institutions-are needed, the authors say. On the one hand, these should involve adapting the system to the needs of a wider group of businesses, especially small and medium-sized enterprises (SMEs); on the other hand, it is necessary to strengthen KUKE financially and take better advantage of opportunities linked with those activities of the Export Credit Insurance Corporation that are conducted on behalf of the Treasury, the authors say.
