competing theory based on the alternative assumption that quality is exogenous across firms would predict completely opposite …

credit enforcement is prohibitively costly. The theory helps to explain how the three observed phenomena of output decline …

This paper analyzes the impact of financial development on export concentration. I incorporate credit constraints into … increases innovation activity and export shares of larger firms. In contrast, a model variant in which exporters have to finance … production costs instead of investments suggests a negative impact of financial development on export concentration as smaller …

. Export opportunities, instead, shift expected profits to the tail and increase the value of technological heterogeneity. We …, built from highly disaggregated US import data. Consistent with the model, financial development increases sales dispersion …. These results can be important for explaining the effect of financial development and factor endowments on export sales. …

heterogeneity and export incentive through credit market imperfection over the life cycle of a firm remains largely unaddressed in … the literature. This paper studies the dynamics of wealth heterogeneity and export incentive of credit rationed firms … implies greater export incentive. However, over the life cycle of a firm, the role of competition is impacted by the intensity …