| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7530 |
| DP7530 The Determinants of Intra-Firm Trade | |
| Thierry Verdier; Giordano Mion; Delphine Irac; Gregory Corcos | |
| 发表日期 | 2009-11-01 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | Globalization increasingly involves less-developed countries (LDCs), i.e., economies which usually suffer from severe imperfections in their financial systems. Taking these imperfections seriously, we analyze how credit frictions affect the distributive impact of trade liberalizations. We find that free trade significantly widens income differences among firm owners in LDCs: While wealthy entrepreneurs are better off, relatively poor business people lose. Intuitively, with integrated markets, profit margins shrink -- which makes access to credit particularly difficult for the least affluent agents. Richer entrepreneurs, by contrast, win because they can take advantage of new export opportunities. Our findings resonate well with a number of empirical regularities, in particular with the observation that some liberalizing LDCs have observed a surge in top-income shares. |
| 主题 | Industrial Organization ; International Trade and Regional Economics |
| 关键词 | Credit market frictions Top incomes Trade liberalization Wealth inequality |
| URL | https://cepr.org/publications/dp7530 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536366 |
| 推荐引用方式 GB/T 7714 | Thierry Verdier,Giordano Mion,Delphine Irac,et al. DP7530 The Determinants of Intra-Firm Trade. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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