Causality Relationship between Import, Export and Exim Bank Loans: Turkish Economy

Export promotion tools aim to increase exports and support the entrepreneur in reaching new foreign markets. The positive impact of incentives, especially on financial issues, on exports both before and after shipment is undeniable. Founded in 1987, Turkish Exim bank is Turkey’s official export credit institution. By observing macro-economic balances, Exim bank ensures that exporters, export-oriented production manufacturers and entrepreneurs operating abroad are supported by credit, guarantee and insurance programs to increase their competitiveness. The study aims to examine the causal relationship between imports, exports and Exim bank loans in the Turkish economy. In the study, stationarity with the extended Dickey-Fuller unit root test, long-term relationship with the Johansen co-integration test, and then causality with the Granger test were investigated. The causality relationship was analyzed using import, export and Eximbank loans data for the periods 2003–2020.

Export Credit Agencies, International Investment Law and the Spectre of Unsustainable Developing Countries' Debts

This article argues that the activities of Export Credit Agencies (ECAs), which provide political risk insurance to cover exports and foreign direct investments (FDIs), may be undermining the goals of Investor-State Dispute Settlement (ISDS). ISDS is supposed to limit investment disputes so that they are between the investor and host-state of the investment (investor-state disputes). However, since ECAs are quasi-governmental organisations that support FDIs, they can effectively elevate such investment disputes so that they are between the host-state and home-state of the investor (state-to-state disputes). This has implications for the necessity defence in international investment disputes, which is likely to feature in cases triggered by governmental measures taken in response to the COVID-19 pandemic. Further, the article argues that the activities of ECAs often precipitate unsustainable debt accumulation in developing countries. And these situations are becoming increasingly combustible because ECAs have escalated their activities to season investment programmes with foreign and geopolitical influence. This may worsen in the aftermath of the COVID-19 pandemic. The article concludes that increased transparency and a sustainability element in the activities of ECAs are essential to both expose these risks more broadly and to create a space under the canopy of international economic law for more sustainable growth from the understory of developing nations.

The main trends in the development of export credit agencies in the world

Subject. This article discusses the features and trends in the development of export credit agencies (ECA) in the world in the context of increasing competition of manufacturers for market share. Objectives. The article aims to show the peculiarities of the ECA's activities, reveal new aspects of their operation in modern conditions, and substantiate the need to change the international agreement in the field of export crediting and insurance. Methods. For the study, I used the comparative, statistical, and formal and logical methods. Results. The article shows the key role of ECA as an institution of State support for exports and a guarantor of the stability of the international trading system. It also finds that increased competition from Chinese and other ECAs that are not subject to the Arrangement on Officially Supported Export Credits – OECD rules, as well as the expanded role of ECA during the pandemic, necessitate uniform approaches to State support for exports of domestic producers at the WTO level. Conclusions. ECAs’ support remains one of the effective tools in implementing the State foreign economic policy and increasing the international competitiveness of certain sectors of the economy. The need to improve international rules on export credit and insurance to ensure the stability and sustainable development of international trade is becoming increasingly apparent.

Study of Rooftop Solar PV Policies that Have an Impact on Techno-Economic, and Socio-Environment in a Leading Heavy Equipment Company in Indonesia

The government continues to encourage efforts to increase renewable energy, one of which is by issuing a ministerial regulation of energy and mineral resources (MEMR) 49/2018 with amendments no. 13/2019 and 16/2019. The key points of this policy are reducing the constant in charge capacity for industry, simplifying the licensing process and the existence of operating permits and certificates of operation feasibility, as well as compensation for export credit of 65% which is still deemed unfavorable. As of October 2020, 2,566 solar PV rooftop customers have registered, with a total capacity of 18.19 MWp. This research aims to not only analyze the gap policy, but also to make a case study in a Leading Heavy Equipment Company in Indonesia building on the existing PV rootop policy. By using a web-based simulation that is Helio Scope and the calculation of investment feasibility, the results are not economically profitable. This is due to the high investment value, interest rate value, and other parameters.