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Credit Constraints, Heterogeneous Firms, and International Trade
This paper examines the detrimental consequences of financial market imperfections for international trade. I develop a heterogeneous-firm model with countries at different levels of financialExpand
Volatility and growth: Credit constraints and the composition of investment
How does uncertainty and credit constraints affect the cyclical composition of investment and thereby volatility and growth? This paper addresses this question within a model where firms engage inExpand
Export Prices across Firms and Destinations
This paper establishes six stylized facts about firms' export prices using detailed customs data on the universe of Chinese trade flows. First, across firms selling a given product, exporters thatExpand
Credit Constraints, Equity Market Liberalizations and International Trade
This paper provides evidence that credit constraints are an important determinant of international trade flows. I exploit shocks to the availability of external finance and examine the impact ofExpand
Volatility and Growth: Credit Constraints and Productivity-Enhancing Investment
We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment and thereby volatility and growth. We first develop a simple growth model where firms engage in twoExpand
Off the Cliff and Back? Credit Conditions and International Trade During the Global Financial Crisis
We study the collapse of international trade flows during the global financial crisis using detailed data on monthly US imports. We show that credit conditions were an important channel through whichExpand
Firm Exports and Multinational Activity Under Credit Constraints
Abstract We provide firm-level evidence that credit constraints restrict international trade and affect the pattern of multinational activity. We show that foreign affiliates and joint ventures inExpand
China's Exporters and Importers: Firms, Products, and Trade Partners
This paper uses newly available data on Chinese trade flows to establish novel and confirm existing stylized facts about firm heterogeneity in trade. First, the bulk of exports and imports areExpand
Credit Constraints, Heterogeneous Firms and International Trade
This paper examines the detrimental consequences of financial market imperfections for international trade. I develop a heterogeneous-firm model with countries at different levels of financialExpand
Firm Exports and Multinational Activity Under Credit Constraints
This paper provides firm-level evidence that credit constraints restrict international trade flows and affect the sectoral pattern of multinational activity. Using detailed customs data from China,Expand
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