• 통상정보연구
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• 제10권4호
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• pp.513-532
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• 2008

The purpose of this study was to analyze which factors have had impacts on extension export insurance charge of Korean export insurance. In order to attainment of this study, an empirical study was proceeded. The export insurance charge was hired as the dependent variable and export insurance premium, insurance compensation charge, export insurance collection charge and export insurance fund were used as independent variables. Data was used for estimation are the annually data from 1969 to 2007. From results of this analysis, we find the hired variables have highly correlation among them and the most influential factor turns out to be export insurance fund. Main results of this study was as follows : i) The export insurance fund must be increased immediately. ii) It is necessary that Korea Export Insurance Corporation give their attention to the compensate amount of export insurance compensation on specific insurance item. iii) It is necessary that Korea Export Insurance Corporation extension the collection efforts of the export insurance. iv) A reasonable raising of export insurance premium need to be done.

• 통상정보연구
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• 제8권1호
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• pp.259-281
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• 2006

In this study, I analysed the Direction of Progress for the Korean Export Insurance upon Export Support for Its Small-Middle Company, investigated Korean Export Insurance focussing on the Export Support for Its Small-Middle Company since Korea Export Insurance Coporation(KEIC)'s establishment and sought for the measures overcoming problems therewith. In my research I started from a basic model analyzing the Korean Export Insurance for Its Small-Middle Company using added several variables that have effect on such export relative price, world income and the amount of the Korean Export Insurance for Its Small-Middle Company. As a result, amount of the Korean Export Insurance for Its Small-Middle Company, world income and export relative price showed expected responses and were significant. Also world income showed expected responses but was not significant. In case of amount of the Korean Export Insurance for Its Small-Middle Company was statistical significance.

• 통상정보연구
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• 제10권4호
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• pp.553-577
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• 2008

Various export supporting systems of Korean government have affected Korean economy to be 13th in the world and over US$ seven hundred trillion in terms of the volume. Especially, export insurance system use to cover the commercial risks of Korean exporter. That is why Korean exporter have been able to do their best in exporting and expand overseas market actively. On the other hand, China who use to drive strong export expansion policy after joining WTO, have also very focused on export insurance system and developed its applicable items. From the point of view above, It is very meaningful study to compare the export insurance system between Korea and China. It is suggested that government funds for export insurance should be raised to give exporters more benefits. New kinds of export insurance items, also, should be developed to actively face international trade environment change.

• 통상정보연구
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• 제10권1호
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• pp.259-277
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• 2008

This paper empirically analyzes the influence of export insurance on export promotion using panel data for the Korean case during the sample period from 2003 to 2006. We use the Korean export's share in trading partners' imports as a weight for the weighted least square (WLS) estimation to measure the effect of export insurance on the export promotion. Our main finding is that export insurance subsidy seems to enhance the export performance when the Korean export takes greater share in other countries' markets. On the other hand, under weaker monopoly power of the Korean export, export risk and trading partners' GDP growth rate has more influence on the export promotion rather than export insurance subsidy. Our finding implies that policy makers and practitioners should discern the Korean exports' monopoly power differential across trading countries for better performing export insuarnce policy.

• 통상정보연구
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• 제6권2호
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• pp.65-84
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• 2004

Korean Government has provided special support to Korean export industry during past 40 years. However, due to the agreement on UR and appearance of WTO, the Government can't provide most of the subsidies which were allowed before WTO era. Hence, export insurance system became more useful tool since it's one of the few allowed subsidies under WTO. This study tries to find the impacts of export insurance systems on the exports in Korea, the United States, and Japan. Firstly, this study surveyed the export insurance systems of Korea, the United States, and Japan. Then, using a regression analysis it analysed the effects of export insurance systems upon the exports in Korea, the United States, and Japan respectively. The period of data is from 1980 to 1999. The results of the regression analysis for export insurance showed significant and positive effects of both Korean and Japanese but the United States showed insignificant and positive upon the exports.

• 무역상무연구
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• 제69권
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• pp.427-451
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• 2016

With WTO system starting since 1995, the international trade business has been getting more competitive and fairer especially with the agreement on subsidies and countervailing measures. The export credit insurance, as the only institution of supporting export business under WTO system, is getting more significant in major economies as an indirect means to support export business. In China, SINOSURE has been monopolizing its export credit insurance market for a long time. Since January 2013, however, the Chinese government permitted several commercial insurers to compete in the market and they include PICC, PING AN, CPIC, China Re. This study is to discuss how to improve the Chinese export credit insurance after analyzing performance of privatization of short-term credit insurance and real cases of success and failures. With the 'Go Global' and 'One Belt, One Road' policy of Chinese government, the role of export credit insurance is expected to be more significant. Thanks to the Korea-China FTA since December 2015, international trade between the two countries will be greater especially in finance and insurance area. Because Korean insurance industry is very much interested in getting into Chinese export credit insurance market, they need to study carefully the performance of privatization of Chinese short-term export credit insurance. For their policy decision makings the Korean authorities need to get lessons from the privatization of Chinese short-term export credit insurance business.

• 통상정보연구
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• 제10권4호
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• pp.495-512
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• 2008

Because Korea and Japan has joined WTO and OECD, it is impossible to carry out a direct export-promoted policy such as export subsidies. Therefore, the only policy which is internationally valid for promoting an export is the export insurance. Hence export insurance system became more useful tool since it's one of the few allowed subsidies under WTO. This paper examines to find the impacts of export insurance on the export supply in Korea and Japan. The period of data is from 1980 to 2006. Unlike previous studies on the effectiveness of export subsidy in export supply, the current study examines the stationarity nature of the concerned variables. The unit root tests show that all variables are not I(0) Time Series. Instead, they are I(1) Time Series. To this, cointegration verification was conducted based on the use of Johansen verification method to define the existence (or non-existence) of long-term balance relationship among variables. The concerned variables are revealed to be cointegrated. In order to analyze, this study introduce a VEC model. In this paper we construct two VEC models. The one is about Korea, the other is about Japan. The empirical evidences show that export insurance system has not contributed to promoting export supply in Japan. But the results of empirical analysis showed significant and positive effects of Korea export insurance upon the export supply.

• Journal of Korea Trade
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• 제24권6호
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• pp.157-172
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• 2020

Purpose - This research empirically proves the extent to which export insurance promotes Korean exports to research object countries among New Southern countries. The outcome of this research will present implications for the operations of export insurance for exports to these countries. Design/methodology - For the empirical analysis, the export equation was composed using a basic gravity model. Based on this, the determinants of Korea's exports to research object countries were analyzed. In this study, a panel unit root test and panel cointegration test were conducted. As a result of the panel unit root test, it was confirmed that the variables of the panel data are not belonging to I(0), but to I(1). As a result of the panel cointegration test, it was established that there are long-term stable relationships among all variables. Accordingly, the gravity model was estimated using original data in order to reduce the information loss caused by the first difference, in spite of individual data belonging to I(1). Findings - For the estimated results of panel OLS, the estimated coefficient of short-term export insurance was 0.56-0.64, with statistically significant results at the significance level of 1%. In addition, for the analysis results of the random effect model, the estimated coefficient of short-term export insurance was 0.59-0.64%, with a statistically significant result at the 1% significance level. This could indicate that Korean export insurance has positive influences on export promotion to New Southern countries. Originality/value - The research implies that export insurance has a 4.1 to 4.7 multiplier effect in expanding exports to the New Southern countries for Korea. This research has intensively analyzed the effects of export insurance on the promotion of exports to a selected area by a government foreign economic policy, which is the originality and value of this paper.

• 통상정보연구
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• 제13권3호
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• pp.377-401
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• 2011

본 연구는 우리나라 수출보험이 대기업 및 중소기업의 수출촉진에 효과적으로 작용하고 있는지를 분석하는 데에 초점을 두었다. 이를 위하여 대기업과 중소기업의 수출공급함수 모형을 각각 설정하여 수출보험이 수출공급에 미치는 영향에 대하여 실증분석 하였다. 실증분석 결과를 요약하면 다음과 같다. 1992년부터 2009년까지 연도별 자료를 이용하여 대기업과 중소기업의 수출보험인수액이 수출공급에 미치는 영향에 대하여 통상최소자승법으로 분석한 결과, 대기업과 중소기업의 수출보험인수액은 우리나라의 수출촉진에 긍정적 영향을 미치는 것으로 나타났다. 하지만 실증분석을 하기 위해서는 분석에 사용되어지는 자료들의 안정성 여부가 중요하다. 특히 불안정한 시계열을 적용할 경우 통계분석의 결과가 무의미해질 수 있기 때문이다. 따라서 자료들의 안정성 여부를 파악하기 위해 ADF 방식을 이용하여 검정을 시행한 결과 모든 변수들이 I(1)인 시계열임을 알 수 있었다. 이에 따라 I(1)인 변수들의 장기적 균형관계를 살펴보기 위해 Johansen 검정에 의해 공적분 검정을 실시하였다. 공적분 검정결과, 대기업의 수출공급과 수출보험인 수액 간에서는 5% 유의수준에서 공적분벡터가 존재하는 것으로 나타났다. 반면 중소기업의 수출공급과 수출보험 간에는 공적분벡터가 존재하지 않는 것으로 분석결과 나타났다. 따라서 대기업의 경우 수출보험이 수출공급에 영향을 주는 것으로 해석할 수 있지만, 중소기업의 수출공급에는 수출보험이 영향을 미치지 않고 있다 할 수 있다. 이를 통해서 대기업의 수출은 중소기업의 수출보다 수출보험의 영향력이 더 큼을 알 수 있다.

• 무역학회지
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• 제42권2호
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• pp.145-174
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• 2017

최근 계속되는 글로벌 경기 침체로 수출 여건이 악화됨에 따라 수출 주도형 소규모 개방경제인 우리나라는 수출이 감소하고 국내 경제 또한 침체가 지속되고 있다. 따라서 앞으로 수출증대를 통한 우리 경제의 지속적인 성장을 위해서는 수출보험과 같은 수출 지원제도의 유효성을 분석하여 수출확대를 위한 방안을 마련할 필요가 있다. 이에 본 연구에서는 수출보험이 국내 중소기업 및 대기업 수출에 미치는 효과를 살펴보기 위해 국내 중소기업 및 대기업 수출실적, 수출보험인수실적, 단기수출보험인수실적, 수출 상대가격지수(수출물가지수), 원/달러 환율, 국내경기 동행지수 등의 자료를 이용하여 시계열 분석을 실시하였다. 특히 벡터자기회귀모형(VAR 모형)을 통한 그랜저 인과관계 검정, VAR 모형 분석, 충격반응 분석, 분산분해 분석 등의 계량경제학적 분석 방법을 이용하여 수출보험이 국내 중소기업 및 대기업의 수출에 미치는 영향을 분석하였다. 첫째, 그랜저 인과관계 검정을 통해 대기업 수출은 국내경기 동행지수에, 국내경기 동행지수는 수출보험인수실적 및 단기수출보험인수실적에 선행하는 인과관계가 있는 것으로 나타났다. 둘째, VAR 모형 분석 결과 수출보험인수실적 및 수출물가지수의 경우 중소기업의 수출에는 부(-)의 영향을, 그리고 대기업 수출에는 정(+)의 영향을 주는 것으로 나타난 반면, 단기수출보험인수실적의 경우 중소기업의 수출에는 정(+)의 영향을, 그리고 대기업 수출에는 부(-)의 영향을 주는 것으로 나타났다. 셋째, 충격반응분석 및 분산분해 분석 결과 대기업 수출은 중소기업에 비해 단기수출보험인수실적에 크게 영향을 받는 것으로 나타났으며, 수출보험인수실적 역시 중소기업 보다 대기업 수출에 미치는 효과가 더 큰 것으로 나타났다. 결론적으로 수출보험의 경우 중소기업보다 대기업 수출 증대에 더 긍정적인 영향을 주고 있는 것으로 나타났으며, 향후 중소기업의 중장기적 수출보험 활성화를 위해서는 지자체별로 중소기업에 대한 수출보험 지원을 확대할 필요가 있는 것으로 분석되었다. 본 연구는 수출보험이 국내 중소기업 및 대기업의 수출에 미치는 영향을 분석하고 효율적인 수출보험정책을 수립하기 위한 정책적 시사점을 제시하고자 하였다는 점에서 그 의의가 있다. 향후 후속연구에서는 수출보험의 수출지원 효과를 보다 정밀하게 측정하기 위해 산업별 보험 인수실적에 따른 수출실적에 대한 시계열 분석을 실시할 필요가 있을 것이다.