The Importance and Role of Offsets within International Economic Exchanges

Constantin Georgescu (), Gheorghe Caraiani and Monica Tudor
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Monica Tudor: "Dimitrie Cantemir" Christian University

Knowledge Horizons - Economics, 2013, vol. 5, issue 3, 36-39

Abstract: Over time offsets have been defined differently. In essence, defense offsets and those in civil commerce, are offset a buyer seek to a seller for the purchase of goods and/or services. Offset demand for defense showed an upward trend since 1950. It took a further scale in 1980 and since has grown all. Two decades ago, the offset was practiced by around 20 countries, currently being adopted in more than 130 countries. Subsequent changes in the policy of offsets in defense from procurement procedures in 2006, 2008, 2009, different countries have included provisions for bank credit, delimitation of defense products and reduce licensing requirements. Procedures for defense procurement in 2011 are making a significant jump from the preceding provisions of direct offsets by including dual use - civil aerospace and security features for home launching the indirect offsets in a limited way.

Keywords: Counter; compensation; offset (search for similar items in EconPapers)
JEL-codes: L5 (search for similar items in EconPapers)
Date: 2013
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