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Time-Varying Impacts of Financial Credits on Firm Exports: Evidence from Trade Deregulation in China

Dong Cheng, Zhongzhong Hu and Yong Tan

MPRA Paper from University Library of Munich, Germany

Abstract: This paper investigates the heterogeneous and time-varying effects of financial credits on firm-level export performance. Using a data set covering comprehensive Chinese manufacturing firms and employing a difference-in-differences approach, we find that financial credits improve firm-level exports and productivity more for firms switching from indirect to direct export than continuing indirect exporting firms. Further, we employ a difference-in-difference-in-differences approach and find that improvements in firm-level finance have larger positive impacts on firm export values in the post-WTO accession period, conditioning on the firm switching from indirect to direct exporting. The time-varying impact may suggest an export distortion in China before its WTO accession.

Keywords: Financial Credits; WTO Accession; Indirect export; Direct Export; Difference-in-Differences (search for similar items in EconPapers)
JEL-codes: F13 F14 F61 G28 (search for similar items in EconPapers)
Date: 2017-08-07
New Economics Papers: this item is included in nep-bec, nep-cna, nep-eff, nep-int and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://mpra.ub.uni-muenchen.de/80657/2/MPRA_paper_80657.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/81812/2/MPRA_paper_80657.pdf revised version (application/pdf)

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