 Financing constraints and the export partnerships with RCEP: Evidence from manufacturing firms in ChinaQing Peng, Zhenhao Chen and Jie Li Journal of Asian Economics, 2025, vol. 97, issue C Abstract: Despite the continued growth of Chinese exports post the COVID-19 shock, concerns persist regarding trade relationship stability. Particularly within the Regional Comprehensive Economic Partnership (RCEP), a critical export partner for China, many firm-level partnerships exhibit short durations. Through survival analysis, we demonstrate the significant role of financing constraints in these unstable export partnerships with RCEP. Aligned with the pecking order theory of exports, financing constraints prompt firms to either reduce the number of export destinations or shift to larger economies as export partners, thereby destabilizing export partnerships with RCEP members. Moreover, our findings indicate that while traditional bank support benefits large firms in mitigating the adverse effects of financing constraints, small firms rely more on financial support from intermediaries and government subsidies. In addition to financial support, firms can maintain stable export partnerships with RCEP by diversifying export products. Keywords: financing constraints; export partnerships; RCEP; survival analysis (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:97:y:2025:i:c:s1049007824001659 DOI: 10.1016/j.asieco.2024.101870 Access Statistics for this article Journal of Asian Economics is currently edited by C. Wiemer More articles in Journal of Asian Economics from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.