The influential papers on the effect of credit constraints on growth and international trade (Rajan and Zingales, 1998; Manova, 2013) tend to assume that asset tangibility and the share of external borrowing are exogenous industry characteristics, which are timeand country-invariant. In the finance literature, however, the share of external borrowing is viewed as endogenous and dependent on the...

In this paper, we shed additional light on the complex relationship between multinational enterprises (MNEs), exporting and economic development by making a distinction between single and multi-product firms. As far as we are aware, the export behavior of foreign firms in a multi-product setting has not previously been considered for a developing country. Using firm-level data for Thailand we s...

This paper extends the literature on trade liberalization and firm productivity by examining the complementarities between the speed of contract enforcement and the productivity gains from input tariff liberalization. It does so by using firm-level panel data from India along with objective measures of judicial efficiency at the state level. Consistent with the main proposition derived from a s...

For decades, rapid urban expansion has led to concerns over the loss of cultivated land in rural China. Less well known is the fact that development of newly cultivated land has in fact consistently exceeded land conversion from 1999-2006. This paper provides an analytical model that makes sense of this observation, featuring fiscal decentralization, local governments as custodians of land use ...

Aiming to explore how the survival of trade flows has evolved over time, we analyze a rich data set of detailed imports to individual EU15 countries from 140 non-EU exporters, covering the period 1962-2006. We find that short duration is a persistent characteristic of trade throughout the extended time period that we study: in general only 40 percent of trade flows survive the first year of ser...

Article history: Received 8 February 2013 Received in revised form 1 April 2014 Accepted 5 April 2014 Available online 13 April 2014 This study uses a theoretically justified gravity model of trade to examine the impact of the ASEAN–China Free Trade Agreement (ACFTA) on exports, focusing on trade creation and diversion effects. The model is tested on a sample of 31 countries over the period dat...

The paper explores the determinants of industry location across interwar Poland. After the political reunification of Poland at the end of 1918 its industry faced massive structural changes: the removal of internal tariff barriers and improved infrastructure strengthened the domestic market, while foreign market relations were cut off. Similarly, the geographical dispersion of factor endowments...

Motivated by the 2008–09 financial crisis and the trade collapse, the paper analyzes the effect of past banking crises (1976–2002) on trade with a focus on African exporters. The paper shows that they are particularly vulnerable to a banking crisis in the countries they export to. It also distinguishes between an income effect (during a banking crisis, income and exports to the country fall) an...

This paper explores the gender differentiated effects of trade liberalisation in Bangladesh. Since the Ready -Made Garments (RMG) industry employs the largest number of industrial female workers and contributes the most in export earnings and GDP, our analysis is mainly based on this industry. The paper finds that trade has created more than 5 times higher job for women than men in the RMG sect...