| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7603 |
| DP7603 Markets for Reputation: Evidence on Quality and Quantity in Academe | |
| Daniel S. Hamermesh; Gerard Pfann | |
| 发表日期 | 2009-12-13 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | A striking feature of many financial crises is the collapse of exports relative to output. In the 2008 financial crisis, real world exports plunged 17 percent while GDP fell 5 percent. This paper examines whether the drying up of trade finance can help explain the large drops in exports relative to output. This paper is the first to establish a causal link between the health of banks providing trade finance and growth in a firm?s exports relative to its domestic sales. We overcome measurement and endogeneity issues by using a unique data set, covering the Japanese financial crises of the 1990s, which enables us to match exporters with the main bank that provides them with trade finance. Our point estimates are economically and statistically significant, suggesting that trade finance accounts for about one-third of the decline in Japanese exports in the financial crises of the 1990s. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Exports Financial shocks Financial crisis Trade finance Japan |
| URL | https://cepr.org/publications/dp7603 |
| 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/536440 |
| 推荐引用方式 GB/T 7714 | Daniel S. Hamermesh,Gerard Pfann. DP7603 Markets for Reputation: Evidence on Quality and Quantity in Academe. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
