Role of Export Credit Insurance and the Development of Russian Export Trade
https://doi.org/10.26794/2587-5671-2023-27-1-174-184
Abstract
Since the Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011, only a few scientists have bothered to substantiate of the Agency’s economic policy. The aim of the paper is to investigate the role of EXIAR economic policy in promoting the growth of Russia’s export trade. The current study conducts methods such as statistical, comparative and empirical analysis of panel data on the basis of econometric models. The results of the research suggest that export credit insurance can be useful for the development of Russian export trade, especially for exports to high-risk developing countries and to high-value-added Russian exporting enterprises, such as machinery, electrical and chemical-pharmaceutical industries. The authors suggest that Russia should raise the status of export credit insurance, increase the penetration rate of high-tech goods into key countries-importers, improve the foreign trade oppor tunities of exporting enterprises.
Supporting agencies: This paper was supported by the RFBR [grant No. 21–510–92001]. The study was realized with the support of the China Scholarship Council (Grant No. 202109010065). St. Petersburg State University, St. Petersburg, Russia.
About the Authors
W. Xie
St. Petersburg State University
Russian Federation
Competing Interests:
Russian Federation
Wenkai Xie - PhD Student, Department of Risk Management and Insurance, Faculty of Economics
St. Petersburg
Competing Interests:
The authors have no confl icts of interest to declare
N. P. Kuznetsova
St. Petersburg State University
Russian Federation
Competing Interests:
Russian Federation
Nataliya P. Kuznetsova - Dr. Sci. (Econ.), Prof. of the Department of Risk Management and Insurance, Faculty of Economics
St. Petersburg
Competing Interests:
The authors have no confl icts of interest to declare
N. K. Toan
Vietnam Academy of Social Sciences
Viet Nam
Competing Interests:
Viet Nam
Nguen K. Toan - PhD in Econ., Prof. of The Institute of European Studies
Hanoi
Competing Interests:
The authors have no confl icts of interest to declare
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For citations:
Xie W., Kuznetsova N.P., Toan N.K. Role of Export Credit Insurance and the Development of Russian Export Trade. Finance: Theory and Practice. 2023;27(1):174-184. https://doi.org/10.26794/2587-5671-2023-27-1-174-184
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