My new findings from firm-level surveys show that both a firm’s probability of exporting and a firm’s exporting volume increase with the firm’s age after controlling productivity as well as that both probability of and quantity of export are higher among financially non-constrained firms, after controlling age and productivity. This paper develops a model with credit-constrained, heterogeneous ...

Monetary economists have long recognized a tension between the bene…ts of fractional reserve banking, such as the ability to undertake more pro…table (long-term) investment opportunities, and the di¢ culties associated with fractional reserve banking, such as the risk of insolvency for each bank. The goal of this paper is to show that a speci…c form of private bank coalition (a joint-liability ...

Recent proposals call for the establishment of an international bankruptcy court that would adjudicate debt disputes between sovereign debtors and their creditors. One component of the operation of such an institution would be the declaration, under circumstances deemed appropriate, of a standstill preventing lenders from forcing payment of debt. Such a proposal would bring the enforcement and ...

In this paper I identify new goods in U.S. imports data at the product levels of 7-digit TSUSA or 10-digit HS codes. I show that consistent with product cycles, the North’s new goods exports relative to old goods exports grow faster than the South’s, and then the South catches up with the North. The catch-up takes 13 ~ 18 years and happens in the 1990s, an age of globalization and outsourcing. ...

The Generalized System of Preferences (GSP) was established to promote the exports of low-income countries to industrialized countries in order to support their economic growth and development. However, the design of these schemes is rather complex and the e¤ects of GSP have been found to be controversial. While previous studies solely analyzed preferential agreements of individual granting cou...

nowadays, countries realize that without having knowledge and technology, they may not export advantaged goods to the global market. generally, technology and knowledge accumulation play vital role for reaching high economic growth rate and economic development. the statistical reports show that iran has not been successful in the high-tech export area; base on those reports, iran’s high-tech e...

This paper applies several of the product space tools of Hausmann, Klinger, and Hidalgo to explain and predict the pattern of Brazil’s exports. First, we calculate an annual measure of distance between moderately disaggregated products. Then we fit an econometric model that predicts the next products in which each country will gain comparative advantage, based on this distance measure, domestic...

This paper estimates the effects of China’s exchange rate changes on exports of competitor countries in third markets. We derive an econometric specification which includes product and destination-specific indices of competition between China and its developing country competitors. Our empirical strategy allows us to exploit the variation--afforded by disaggregated trade data--across exporters,...

â â â  â â â â â  abstract: â  up to now, the impact of real exchange rate on the non-oil exports of iran has been mainly on focus. however, the more important aspect of the fluctuations in exchange rate is its degree of volatility which can have profound effect on the non-oil exports. hence, the main objective of this paper is to investigate the linkage between non-oil exports and the real exc...