| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP10555
|
| DP10555 Financial Frictions, Product Quality, and International Trade |
| Rosario Crinò; Laura Ogliari
|
| 发表日期 | 2015-04-26
|
| 出版年 | 2015
|
| 语种 | 英语
|
| 摘要 | An influential literature has documented large differences across countries and industries in terms of product quality. It is important to understand the determinants of these differences, because the production of high-quality goods influences key aspects of economic performance. In this paper, we propose and test an explanation that rests on the interplay between cross-country differences in financial frictions and cross-industry differences in financial vulnerability. We organize the empirical analysis around a trade model with heterogeneous firms, endogenous output quality, country heterogeneity in financial frictions, and industry heterogeneity in financial vulnerability. We estimate the model using novel and unusually rich data on export quality, financial development, and financial vulnerability, covering all manufacturing industries and countries in the world over the last three decades. Our results show that the interplay between financial frictions and financial vulnerability is a first-order determinant of the observed variation in product quality across countries and industries. We also show that quality adjustments are a key channel through which financial development affects international trade and shapes the industrial composition of countries' exports. |
| 主题 | International Trade and Regional Economics
|
| 关键词 | Credit market imperfections
Export structure
Financial vulnerability
Product quality
|
| URL | https://cepr.org/publications/dp10555
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539387
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推荐引用方式
GB/T 7714 |
Rosario Crinò,Laura Ogliari. DP10555 Financial Frictions, Product Quality, and International Trade. 2015.
|
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