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SSRN Electronic Journal
Article . 2020 . Peer-reviewed
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Financial Dependence and Intensive Margin of Trade

Authors: Mélise Jaud; Madina Kukenova; Martin Strieborny;

Financial Dependence and Intensive Margin of Trade

Abstract

We find that financial markets and institutions play distinctive roles in helping exporters survive in foreign markets. The relative importance of banks versus stock markets for export success shifts both across different groups of products and between short-term and long-term export survival. The distinction between large and active stock markets matters as well, especially when it comes to products requiring high levels of working capital. Our results also highlight the importance of deep stock markets for exporters lacking collateralizable assets and the necessity of well-established export links for the successful use of trade credit as a substitute for bank credit.

Keywords

financial development,financial dependence,trade duration,développement financier,dépendance financière,analyse de survie,commerce international

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
1
Average
Average
Average
bronze