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Journal of Agricultural and Resource Economics >
Volume 24, Number 02, December 1999 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/30791
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| Title: | OPTION VALUES FOR PROVISIONS IN EXPORT CREDIT GUARANTEES |
| Authors: | Dahl, Bruce L.
Wilson, William W.
Gustafson, Cole R. |
| Issue Date: | 1999-12 |
| Abstract: | All major exporting countries of agricultural commodities have some form of credit guarantee program. As the importance of credit programs escalates, it is incumbent on policy makers to examine the value of their program relative to those of competitors. In this study, a model based on option pricing theory was developed to estimate the value of credit guarantees extended to importers and applied to U.S. and competing countries' programs. The Canadian guarantee has the lowest implicit value, followed by the U.S., Australian, and French guarantees. French guarantees had the highest implicit value due to higher coverage for interest and freight and insurance. |
| URI: | http://purl.umn.edu/30791 |
| Institution/Association: | Journal of Agricultural and Resource Economics>Volume 24, Number 02, December 1999 |
| Total Pages: | 19 |
| Language: | English |
| From Page: | 506 |
| To Page: | 524 |
| Collections: | Volume 24, Number 02, December 1999
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