STATA file showing that during a crisis the export growth of a sector with a relatively high reliance on external finance, such as electric machinery, is reduced on average by 4 percentage points compared to a sector like footwear whose dependence is relatively low. We also find that exports of industries that tend to have more tangible assets grow relatively faster during a banking crisis confirming the hypothesis about the importance of collateral in a context when access to finance becomes scarcer. Finally, using a proxy for trade credit dependence (Fisman and Love,2003) we show that exports of industries relatively more reliant on inter-firm finance are not affected by a banking crisis more than others. A potential explanation for this finding is that if importers do not face a crisis themselves they might be willing to accept less favorable payment conditions and extend trade credit to their suppliers in order to allow them to overcome their temporary credit constraints.
L o a d i n g
Overview
Additional Information
KeyValue
Harvest Object Id3b2da999-2f43-408e-bc84-55518754cb5f
Harvest Source Id7018b599-3047-42dd-a6ea-ec72ea057d07
Harvest Source TitleEnergydata.info
