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development increases countries' exports above and beyond its impact on overall production. Firm selection into exporting accounts … for a third of the trade-specific effect, while two thirds are due to reductions in firm-level exports. Second …, financially advanced economies export a wider range of products and their exports experience less product turnover. Finally, while …
Persistent link: https://www.econbiz.de/10005720470
process innovation). After carefully correcting for endogeneity and selection issues, the evidence points to firms self …
Persistent link: https://www.econbiz.de/10008468704
are related to credit constraints in one important dimension. In the case of exports, it is the intensive and extensive … margins of exports in terms of both product and destinations that are significantly associated with credit constraints whereas …
Persistent link: https://www.econbiz.de/10011191010
This paper focuses on self-selection into trade by exporting and importing firms, and on the presence of differential variable and sunk costs between exporters and importers across different categories of imports. The authors use a rich and recent dataset for Turkish manufacturing firms for the...
Persistent link: https://www.econbiz.de/10010519073
This paper explores the link between exports and total factor productivity (TFP) in Brazilian manufacturing firms over … exports significantly, but with stagnant aggregate TFP growth. The authors first estimate firm-level TFP under alternative … control for the possibility that selection into exports may not be a random process. Their results confirm the self …
Persistent link: https://www.econbiz.de/10011299228
Persistent link: https://www.econbiz.de/10012585934
What determines the choice of countries' trade partners? We show theoretically and empirically that financial market imperfections affect the number and identity of exporters' destinations. Bigger economies with lower trade costs are more attractive markets because they offer higher export...
Persistent link: https://www.econbiz.de/10010951412
This paper provides firm-level evidence that credit constraints restrict international trade flows and affect the sectoral pattern of multinational activity. Using detailed customs data from China, we show that foreign affiliates and joint ventures have better export performance than private...
Persistent link: https://www.econbiz.de/10008876852
This paper studies how U.S. monetary policy affects global stock prices. We find that global stock prices respond strongly to changes in U.S. interest rate policy, with stock prices increasing (decreasing) following unexpected monetary loosening (tightening). This impact is more pronounced for...
Persistent link: https://www.econbiz.de/10008692313
Policy efforts to revitalise entrepreneurship and investment in Spain are key to generating growth and new jobs. The government has a substantial reform program to make it easier to do business in Spain, which should in some cases be deepened. Boosting economic growth requires a new generation...
Persistent link: https://www.econbiz.de/10011276814