Financial liberalization and the relationship-specificity of exports

Defever, F. & Suedekum, J. (2014). Financial liberalization and the relationship-specificity of exports. Economics Letters, 122(3), pp. 375-379. doi: 10.1016/j.econlet.2013.12.034

Abstract

We investigate the causal impact of equity market liberalizations on sectoral export performance across 91 countries (1980-1997). 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.

Publication Type:	Article
Additional Information:	© 2014, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/
Publisher Keywords:	Financial liberalization; Credit constraints; Relationship-specificity; International trade
Subjects:	H Social Sciences > HB Economic Theory
Departments:	School of Policy & Global Affairs > Economics