EXPORTS AND CREDIT CONSTRAINTS UNDER INCOMPLETE INFORMATION: THEORY AND EVIDENCE FROM CHINA

doi:10.1162/REST_a_00405

CORC > 上海财经大学 > 上海财经大学

	EXPORTS AND CREDIT CONSTRAINTS UNDER INCOMPLETE INFORMATION: THEORY AND EVIDENCE FROM CHINA
	Feenstra, Robert C.1,2; Li, Zhiyuan 3,4; Yu, Miaojie 5
刊名	REVIEW OF ECONOMICS AND STATISTICS
	2014-10
卷号	96 期号:4 页码:729-744
ISSN号	0034-6535
DOI	10.1162/REST_a_00405
英文摘要	This paper examines why credit constraints for domestic and exporting firms arise in a setting where banks do not observe firms' productivities. To maintain incentive compatibility, banks lend below the amount that firms need for optimal production. The longer time needed for export shipments induces a tighter credit constraint on exporters than on purely domestic firms. In our application to Chinese firms, we find that the credit constraint is more stringent as a firm's export share grows, as the time to ship for exports is lengthened, and as there is greater dispersion of firms' productivities, reflecting more incomplete information.
WOS研究方向	Business & Economics ; Mathematical Methods In Social Sciences
语种	英语
出版者	MIT PRESS
WOS记录号	WOS:000342526200011
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/1689]
专题	上海财经大学
通讯作者	Feenstra, Robert C.
作者单位	1.Univ Calif Davis, Sacramento, CA 95820 USA; 2.NBER, Cambridge, MA 02138 USA; 3.Shanghai Univ Finance & Econ, Shanghai, Peoples R China; 4.Key Lab Math Econ SUFE, Shanghai, Peoples R China; 5.Peking Univ, China Ctr Econ Res, Beijing, Peoples R China
推荐引用方式 GB/T 7714	Feenstra, Robert C.,Li, Zhiyuan,Yu, Miaojie. EXPORTS AND CREDIT CONSTRAINTS UNDER INCOMPLETE INFORMATION: THEORY AND EVIDENCE FROM CHINA[J]. REVIEW OF ECONOMICS AND STATISTICS,2014,96(4):729-744.
APA	Feenstra, Robert C.,Li, Zhiyuan,&Yu, Miaojie.(2014).EXPORTS AND CREDIT CONSTRAINTS UNDER INCOMPLETE INFORMATION: THEORY AND EVIDENCE FROM CHINA.REVIEW OF ECONOMICS AND STATISTICS,96(4),729-744.
MLA	Feenstra, Robert C.,et al."EXPORTS AND CREDIT CONSTRAINTS UNDER INCOMPLETE INFORMATION: THEORY AND EVIDENCE FROM CHINA".REVIEW OF ECONOMICS AND STATISTICS 96.4(2014):729-744.