Credit Contraction and International Trade: Evidence from Chilean Exporters
Ari Aisen,
Roberto Alvarez,
Andres Sagner () and
Javier Turen
Working Papers Central Bank of Chile from Central Bank of Chile
Abstract:
An important consequence of the recent financial crisis was the collapse of global trade. Using data of Chilean exporting firms, this paper studies the effect of financial constraints on export growth in the aftermath of the crisis. Our results show that both overall financing and export credit were significant determinants of export contraction in the Chilean case. However, the effect is highly heterogeneous. The evidence shows that larger exporters, belonging to industries more dependent on overall credit, have suffered disproportionately more. This has important policy implications, as public policy aiming at stimulating trade credit may not be as effective if overarching credit conditions remain subdued.
Date: 2011-08
New Economics Papers: this item is included in nep-dev, nep-int and nep-lam
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Journal Article: Credit contraction and international trade: Evidence from Chilean exporters (2013) 
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:639
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