Outward Directs Investment, Firm Productivity, and Credit Constraints

Miaojie Yu ()
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Miaojie Yu: Peking University

Chapter Chapter 8 in Exchange Rate, Credit Constraints and China’s International Trade, 2021, pp 229-243 from Springer

Abstract: Abstract China is currently the third largest country in terms of outward direct investment (ODI), and the investors are mainly state-owned enterprises. This presents a question: what inhibits the private enterprises from increasing ODI? Using a firm-level panel data set of Zhejiang province in China, we examine the impact of firm heterogeneity on private firm ODI. We have three main findings: first, higher productivity level contributes to better access of ODI, and increases ODI value as well; second, lowering a firm’s financial constraint level can increase both the probability and volume of ODI; third, productivity cannot offset the negative effect of financial constraint on private firm ODI.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-15-7522-8_8

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DOI: 10.1007/978-981-15-7522-8_8

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