Identifying and prioritizing the challenges of export insurance and guarantee system
Subject Areas :
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Keywords: Keywords: export, insurance, guarantee, Export Guarantee Fund and SBC approach JEL Classification: G28, G20, F14, F10.,
Abstract :
Bagher Adabi Firouzjaee Abstract One of the governments' policy for export development is to cover political and commercial risks through the issuance of export insurance and guarantees products by export credit Agencies (ECA). In Iran, this plan is done by The Export Guarantee Fund of Iran (EGFI). The evidence indicates that the value of export insurance and guarantees product and also the number of exporters benefiting from them are low. Therefore, the main purpose of this study is to identify and prioritize the challenges of export insurance and guarantee products in the country based on the SBC approach. In addition, this study has been carried out by analytical-descriptive-survey method. In this approach after surveying of theoretical and experimental studies and obtaining the opinions of experts, the main challenges of exporters in using of export insurance and guarantee services are collected in the form of a questionnaire (including 34 component). After confirming its validity and reliability, the questionnaire was distributed among the selected exporters (current and former customers of the EGFI) and analyzed by SPSS software. The results of the questionnaire analysis indicate that, the exporters are faced with three types of challenges including content factors (such as the lack of exchange rate coverage, high risk of export destination countries, Obligatory credits of government and low capital adequacy of the fund), behavioral factors (restriction in foreign guarantees issuance, weak financial brokerage relations of the fund with foreign financial institution, lack of preferential insurance premiums, shortage of diversity of insurance instruments and weakness of electronic infrastructure) and structural factors (collateral problems, lack of policy coordination between the guarantee fund and Export Development Bank, lack of a comprehensive online risk map and Absence of export insurance and guarantee program for SME industries). Finally, some policy implication are presented in based on the three categories of factors mentioned.
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