"Each of the world's largest retailers---Walmart, Carrefour, Tesco, and Metro---entered China after 1995. Their subsequent expansion in China may have influenced Chinese exports through two channels. First, they may have enhanced bilateral exports between the retailers' Chinese operations and...

"This paper provides firm-level evidence that credit constraints restrict international trade flows and affect the pattern of foreign direct investment. Using detailed data from China, we show that foreign-owned affiliates and joint ventures have better export performance than private domestic...