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level of income and export intensity. Specifically, the paper investigates theoretically and empirically how financial … constraints affect a firm's innovation and export activities. Theoretical predictions are tested using unique firm survey data … constraints strongly adversely affect the ability of domestically owned firms to innovate and to export and hence to catch up to …
Persistent link: https://www.econbiz.de/10008468676
This paper models the causes of the 2008 financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. Our analysis is conducted on a cross-section of 85 countries; we focus on international linkages that may have allowed the crisis to spread across...
Persistent link: https://www.econbiz.de/10008528523
In this paper we analyse the relationship between gravity variables and f.o.b. export unit values using Hungarian firm …-product-destination data. By taking firm-product level selection into account we show that export unit values increase with distance even for … relationship between unit values and market size. We propose two possible explanations: first, firms may export different quality …
Persistent link: https://www.econbiz.de/10008530371
adopt a model of firm heterogeneity and export participation which we estimate to match moments of the French data using the …
Persistent link: https://www.econbiz.de/10005124187
information spillovers across markets on the export patterns of four developing countries (Egypt, Korea, Malaysia and Tunisia). A … developing countries, where they appear to be geographically more concentrated. The exception is China and to some extent Hong …
Persistent link: https://www.econbiz.de/10005497848
In this paper we ask why the gravity model of international trade also work well for foreign direct investment (FDI) flows or multinational production (MP). We propose a model of trade and horizontal FDI, where the subsidiary is allowed to source inputs from the headquarters. Under certain...
Persistent link: https://www.econbiz.de/10005114237
Internationally active firms rely intensively on trade credits even though they are considered particularly expensive. This phenomenon has been little explored so far. Our theoretical analysis shows that trade credits can alleviate financial constraints arising from asymmetric information...
Persistent link: https://www.econbiz.de/10011083260
In this paper we show that the delegation of monetary policy to an independent and more conservative central banker is an optimal policy in an international context with monetary spillovers between countries, even in the absence of time inconsistency (credibility) issues. We also study the...
Persistent link: https://www.econbiz.de/10005114375
Three main features characterize the international financial integration of China and India. First, while only having a … small global share of privately-held external assets and liabilities (with the exception of China’s FDI liabilities), these … “short equity, long debt.” Third, China and India have improved their net external positions over the last decade although …
Persistent link: https://www.econbiz.de/10005662395
The Great Leap Forward (GLF) disaster, characterized by a collapse of grain output, and the associated famine in China …
Persistent link: https://www.econbiz.de/10005789139