| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16940 |
| 来源ID | Working Paper 16940 |
| Exports and Credit Constraints Under Incomplete Information: Theory and Evidence from China | |
| Robert C. Feenstra; Zhiyuan Li; Miaojie Yu | |
| 发表日期 | 2011-04-07 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | This paper examines why credit constraints for domestic and exporting firms arise in a setting where banks do not observe firms' productivities. To maintain incentive-compatibility, banks lend below the amount needed for first-best production. The longer time needed for export shipments induces a tighter credit constraint on exporters than on purely domestic firms, even in the exporters' home market. Greater risk faced by exporters also affects the credit extended by banks. Extra fixed costs reduce exports on the extensive margin, but can be offset by collateral held by exporting firms. The empirical application to Chinese firms strongly supports these theoretical results, and we find a sizable impact of the financial crisis in reducing exports. |
| 主题 | Microeconomics ; Economics of Information ; International Economics ; Trade ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w16940 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574614 |
| 推荐引用方式 GB/T 7714 | Robert C. Feenstra,Zhiyuan Li,Miaojie Yu. Exports and Credit Constraints Under Incomplete Information: Theory and Evidence from China. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16940.pdf（364KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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