How do firms in Argentina get financing to export?
AbstractThis paper, developed in the context of the CompNet initiative, delves into the importance of access to financing for the performance of firms in export markets. Using a unique microeconomic database that combines data on Argentine firms’ characteristics and export performance with information on their domestic and external financing, we provide a rich insight into their financing patterns. We find that: (i) Exporters have more access to bank credit than non-exporters, (ii) firms with more access to bank credit are more likely to start exporting, particularly the medium size ones and (iii) those firms with more access to foreign financing export a wider variety of products and serve more distant and developed markets. We also study the duration of firms in export markets using the Kaplan-Meier estimator. We find that the probability of firms’ survival in export markets increases with their size in the earlier years of exporting. Once firms become regular exporters, their permanence in export markets seems to be less dependent on their size. JEL Classification: C33, F14, G20
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Bibliographic InfoPaper provided by European Central Bank in its series Working Paper Series with number 1601.
Date of creation: Nov 2013
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Other versions of this item:
- TomÃ¡s Castagnino & Laura DÂ´Amato & MÃ¡ximo SangiÃ¡como, 2012. "How do Firms in Argentina get Financing to Export?," BCRA Working Paper Series 201258, Central Bank of Argentina, Economic Research Department.
- F10 - International Economics - - Trade - - - General
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-11-16 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ricardo Bebczuk & Tamara Burdisso & Jorge Carrera & MÃ¡ximo SangiÃ¡como, 2011. "A New Look into Credit Procyclicality: International Panel Evidence," BCRA Working Paper Series 201155, Central Bank of Argentina, Economic Research Department.
- Kalina Manova, 2008. "Credit Constraints, Heterogeneous Firms, and International Trade," NBER Working Papers 14531, National Bureau of Economic Research, Inc.
- Kalina Manova & Shang-Jin Wei & Zhiwei Zhang, 2011. "Firm Exports and Multinational Activity Under Credit Constraints," NBER Working Papers 16905, National Bureau of Economic Research, Inc.
- Minetti, Raoul & Zhu, Susan Chun, 2011. "Credit constraints and firm export: Microeconomic evidence from Italy," Journal of International Economics, Elsevier, vol. 83(2), pages 109-125, March.
- Molina, Danielken & Roa, Monica, 2014.
"The Effect of Credit on the Export Performance of Colombian Exporters,"
56137, University Library of Munich, Germany.
- Danielken Molina & Mónica Roa, 2014. "The Effect of Credit on the Export Performance of Colombian Exporters," IDB Publications 85356, Inter-American Development Bank.
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