Financial Liberalization and the Relationship-Specificity of Exports

11 Pages Posted: 13 Jul 2013

See all articles by Fabrice Defever

Fabrice Defever

University of Nottingham - School of Economics; CEP at the LSE

Jens Suedekum

Heinrich-Heine-University Duesseldorf, Duesseldorf Institute for Competition Economics (DICE); Centre for Economic Policy Research (CEPR); CESifo (Center for Economic Studies and Ifo Institute); Institute for the Study of Labor (IZA)

Abstract

We investigate the causal impact of equity market liberalizations in the period 1980‐1997 on sectoral export performance across 91 countries. The increased availability of external finance has boosted trade of industries that intensively use relationship‐specific inputs, and lowered exports of industries using standardized inputs.

Keywords: financial liberalization, credit constraints, relationship‐specificity, international trade

JEL Classification: F14, F36, G20

Suggested Citation

Defever, Fabrice and Südekum, Jens, Financial Liberalization and the Relationship-Specificity of Exports. IZA Discussion Paper No. 7479, Available at SSRN: https://ssrn.com/abstract=2293296

Fabrice Defever (Contact Author)

University of Nottingham - School of Economics ( email )

University Park
Nottingham, NG8 1BB
United Kingdom

HOME PAGE: http://www.fabricedefever.com

CEP at the LSE ( email )

Houghton Street
London WC2A 2AE
United Kingdom

HOME PAGE: http://www.fabricedefever.com

Jens Südekum

Heinrich-Heine-University Duesseldorf, Duesseldorf Institute for Competition Economics (DICE) ( email )

Universitaetsstr. 1
Duesseldorf, NRW 40225
Germany

Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Poschinger Str. 5
Munich, DE-81679
Germany

Institute for the Study of Labor (IZA)

P.O. Box 7240
Bonn, D-53072
Germany

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