Multidimensional financial development, exporter behavior and export diversification
Nieminen, M. (2020). Multidimensional financial development, exporter behavior and export diversification. Economic Modelling, 93, 1-12. https://doi.org/10.1016/j.econmod.2020.07.021
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Economic ModellingAuthors
Date
2020Discipline
Jyväskylä International Macro & FinanceTaloustiedePäätöksentekoa tukeva taloustiede ja talouden kilpailukyky (painoala)Basic or discovery scholarshipJyväskylä International Macro & FinanceEconomicsPolicy-Relevant Economics and Competitiveness of Economy (focus area)Basic or discovery scholarshipCopyright
© 2020 Elsevier
Financial development shapes export sector performance because exporters need external finance and face credit constraints. Previous empirical research has relied largely on single-country studies. The Exporter Dynamics Database (EDD), which features firm-level exports from over 60 countries, reveals differences in the microstructure of the export sector across countries. In this paper, we first provide new evidence that these differences are related to cross-country variation in financial development and structure. Second, we combine the EDD and multidimensional data on financial development with a global database on export diversification. This study is the first to examine how macrolevel export diversification is determined by the microcharacteristics of the export sector. This approach is novel in the empirical literature on export diversification. According to our cross-country analysis, access to domestic financial services positively contributes to export diversification by increasing the number of small exporters, as financial services ease the credit constraints these exporters face.
...
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ElsevierISSN Search the Publication Forum
0264-9993Keywords
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https://converis.jyu.fi/converis/portal/detail/Publication/41816306
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OP Group Research FoundationFunding program(s)
FoundationAdditional information about funding
The author acknowledges financial support from the OP Group Research Foundation.License
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