|Publication type:||Article in scientific journal|
|Type of review:||Peer review (publication)|
|Title:||Credit constraints, firm exports and financial development : evidence from developing countries|
|Published in:||The Quarterly Review of Economics and Finance|
|Publisher / Ed. Institution:||Elsevier|
|Subjects:||Export margins; International trade; Credit constraints; Financial development|
|Subject (DDC):||337: International economics and commerce|
|Abstract:||This paper examines whether financial development reduces the impact of credit constraints on the exporting decision using firm-level data across 17 developing countries. We approximate credit constraints by a firm's liquidity ratio. In line with a Melitz-type model with borrowing frictions, the regression analysis confirms that the positive effect of a firm's liquidity on the exporting probability is larger for firms located in financially less developed countries. This result highlights the importance of financial development in reducing credit constraints. The empirical results also suggest that financing obstacles and the benefits from better access to finance are particularly high for firms belonging to innovative sectors dependent on external finance.|
|Fulltext version:||Published version|
|License (according to publishing contract):||Licence according to publishing contract|
|Departement:||School of Management and Law|
|Organisational Unit:||Center for Economic Policy (FWP)|
|Appears in collections:||Publikationen School of Management and Law|
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