This paper tries to define the concept of Export Finance and establish if the Export Financing is cost-effective way to raise capital and how is it organized in the Russian Federation. In order to do so, several methods have been used: the related literature has been studied, numerical analysis of economic-efficience of export financing has been prepared based on the real example and three interviews with experts in Export Finance have been conducted. The findings suggests that Export Financing is an attractive way of financing in a current economic environment and there is no credible alternative to it on the Russian market. Moreover, the analysis show that despite of the number of advantages, that Export Financing have, there are still some gaps in Export Financing, but in general, Export Finance area is developing and becoming more and more popular among russian importers and exporters

Made available in DSpace on 2016-12-12T20:32:01Z (GMT). No. of bitstreams: 1 Final Mestrado Antonio Carlos.pdf: 527718 bytes, checksum: d6207c29bbf031d2f06e819094ac80a2 (MD5) Previous issue date: 2005-11-08 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The present study aims to identify whether or not there is a correlation between using financial lines for export by small and medium companies, and its level of competitiveness. The Atletic Way company was analyzed for this study, a medium sized company located in the city of Joinville, state of Santa Catarina. The work began with the construction of the theoretical fundamentation, indispensable to give support to the research, being used the methodology proposed by Ferraz et al. (1997) that sees competitiveness as: the managerial factors, administration, innovation, production and human resources; also the structural factors, market configuration of the industry, regime of incentives; and the sistemics factors, as macroeconomics, political-institutional, infra-structure and international. There are very few research material found in this area, mainly when it aims businesses depending on finance policies to export, and also the difficulties that small and medium Brazilian companies face whenever they need a specific financing to export, which harms this sector in the international market. The study signals the low investment in this sector. / O presente trabalho tem por objetivo geral identificar se há correlação entre a utilização de linhas de financiamento para exportações pelas pequenas e médias empresas (PMEs) e o seu nível de competitividade, sendo utilizado como estudo de caso a empresa Athletic Way empresa industrial de médio porte, localizada no município de Joinville/SC. O trabalho se iniciou com a construção da fundamentação teórica, indispensável para dar sustentação à pesquisa, utilizando-se a metodologia proposta por Ferraz et al. (1997), que analisa a competitividade segundo seus fatores determinantes tais como: os fatores empresariais (gestão, inovação, produção e recursos humanos), os fatores estruturais (mercado, configuração da indústria, regime de incentivos) e os fatores sistêmicos (macroeconômicos, políticoinstitucionais, infra estruturais e internacionais). Tal estudo foi motivado pela pouca bibliografia existente na área, principalmente quando se leva em conta o financiamento para empresas vinculadas à exportação e reconhecida dificuldade das pequenas e médias empresas brasileiras em contrair linhas de financiamento específica à exportações, o que vem prejudicando sobremaneira uma maior inserção deste segmento no mercado internacional. O estudo sinaliza pelo baixo investimento nesse setor.

Orientador: Célio Hiratuka / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-17T08:21:03Z (GMT). No. of bitstreams: 1 Galetti_JeffersonRicardo_M.pdf: 1241934 bytes, checksum: b5de9f1566868de6510765826854cc92 (MD5) Previous issue date: 2010 / Resumo: Este trabalho tem como objetivo analisar os resultados dos dois principais programas públicos de financiamento à exportação - BNDES Exim e Proex - no apoio aos exportadores industriais no período que se estende de 2000 a 2007. A análise se concentra em dois eixos principais, o acesso aos recursos dos programas pelas empresas exportadoras da indústria de transformação e a articulação da política de financiamento à exportação com as políticas industrial e tecnológica, em um contexto mais amplo, inseridas em uma política de desenvolvimento. Esta tarefa foi possibilitada pelo acesso à base de dados organizada pelo IPEA que reúne informações sobre as empresas exportadoras nacionais. Com os microdados foi possível elaborar um extensivo quadro com as características das empresas apoiadas em relação ao seu tamanho, quais os setores que receberam apoio e para quais países se destinaram as exportações apoiadas. Os programas públicos mostraram-se complementares aos recursos privados ao apoiar empresas de setores de maior criação de valor, no caso do BNDES Exim, e empresas de menor porte, no caso do Proex. A estrutura institucional dispersa de apoio à exportação brasileira foi cotejada com a existente em alguns países selecionados, que concentram em uma agência oficial de crédito à exportação os principais mecanismos de apoio ao comércio exterior, revelando algum distanciamento da estrutura de apoio nacional em relação à tendência mundial. Finalmente, buscando preencher parcialmente a deficiência existente na avaliação dos resultados das políticas públicas, uma análise econométrica mostrou resultados positivos dos programas públicos de financiamento sobre o desempenho exportador das empresas industriais brasileiras / Abstract: This work aims to analyze the results of the two main public programs export financing (BNDES Exim e Proex) in supporting industrial exporters in the period that extends from 2000 to 2007. The analysis focuses on two main, access to resources of programmes by the exporting companies in the manufacturing industry and the articulation of the export financing policy with industrial and technological policies, in a wider context, within a development policy. This task was made possible by accessing the database organized by IPEA that gathers information about the national exporting companies. Microdata enable to develop an extensive framework with the characteristics of businesses supported in relation to its size, which the sectors that have received support and to what countries were exports supported. Public programs were complementary to private resources to support companies in sectors of greater value creation, in the case of BNDES Exim, and smaller companies, in the case of Proex. The Brazilian institutional structure of export support dispersed was compared in conjunction with the existing in some selected countries, which focused on an official agency of the main export credit mechanisms for supporting trade, revealing some detachment of national support structure in relation to the world trend. Finally, seeking to fill partially existing deficiency in the evaluation of the results of public policies, an econometric analysis showed positive impacts public funding programmes on performance Brazilian exporter of industrial companies / Mestrado / Ciências Economicas / Mestre em Ciências Econômicas

The thesis deals with the financing of complete industrial plants exports with state support. The author is initially engaged in Export Strategy of the Czech Republic with an emphasis on companies founded by the state in order to support exports. Legislation in this field follows. The greatest emphasis is placed on methods of medium- and long-term export financing. One part of the thesis is a case study illustrating the possible practical way of financing export transactions.

The first part of the thesis deals with methods of export financing of capital goods, pre-export financing, supplier's credit, buyer's credit and export leasing. In the next part of the theisis is described financing exports of capital goods with state support. Here is characterized pro-export policy and the Consensus OECD, as well as the emphasis on two major institutions to promote exports in the Czech Republic - EGAP and CEB. The last part is devoted to project financing and financing through PPP.

In first chapter this work describes security instruments which banks offer to their clients. In second chapter it deals with state credit support, and security instruments in it, and also compares the situation in Czech republic with the situation in a few ex-Yugoslavian republics. In the last chapter work points at possibilities of short term export financing.

The aim of the diploma thesis is to propose and evaluate the political and credit risks management associated with the export of medical equipment to countries outside the European Union, including the short and long term analysis of financing options. Alternative solutions are based on well-known approaches of state organizations, which are experienced with the issue and commercial solutions offered by London Market in cooperation with the London insurance market. The main output is comparison of the proposed solutions and evaluation of the optimal solution according to the established criteria by Czech exporter.

The master thesis shows how important is the promotion of export for the economy of the Czech Republic in the present time of economic uncertainty and in front of such threats it now stands. I show in individual chapters of this study, that it is necessary to allow for availability of export credits for Czech exporters, because these may also help to achieve the objectives of the new Czech export strategy. Then I present methods of state aid, two Czech export agencies. And by using gravity model and subsequent analysis I show, that it is socially advantageous to support these agencie, since the positive impact of this support can also be expected as an increase in employment, GDP growth and increased income to the state budget through taxes. Furthermore, I introduce the leader to the threat posed to export financing in Europe by the regulatory requirements of the newly introduced Basel III banking regulation - not just capital requirements, but also the newly introduced leverage ratio. Econometric model empirically confirms the hypothesis, that Basel III will have a negative impact on the availability and price of export credits. On the contrary, according to the conclusions of this model I cannot assume that this regulation significantly influences the Czech export credit institutions.

This thesis deals with the possibilities of financing export contract in the company. The theoretical part provides an insight into the opportunities that companies currently have in financing their activities. There is an overview of the various forms of internal and external financing and their basic characteristics. The practical part is focused on a specific business case and options for financing various parts of the contract. The conclusion provides a comprehensive overview of the variations, their comparisons and recommendations of the best one from the complex perspective.

The main objective of the diploma work was to analyze possibilities of export financing of chosen enterprise subject and to suggest optimal solution. Partial target was to draw up strategy of export support forms, export services and supportive programs for selected enterprise. Subject of this work is company FARMTEC, a. s., active in production of agricultural technology and its sale on Czech and foreign markets. Investment loan, overdraft financing and supplier credit are the prevailing sources of financing used by this company. As well cooperation with companies EGAP, ČEB and CzechTrade is maintained. Financing product TOP Export II offered by Česká spořitelna is found as the best solution for company FARMTEC, a. s. It comprises factoring financing. Further it is recommended to use a new against-crisis product currently offered by EGAP. It is proposed to present company in official address book of Czech export companies offered by CzechTrade.