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Financial Frictions and International Trade

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Abstract

This paper reviews recent studies on the impact of financial frictions on international trade. We first present evidence on the relation between measures of access to external finance and export decisions. We then present an analytical framework to analyze the impact of financial frictions on firms' export decisions. Finally, we review recent applications of this framework to investigate the impact of financial frictions on international trade dynamics across firms, industries, and in the aggregate. We discuss related empirical, theoretical, and quantitative studies throughout.

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  • David Kohn & Fernando Leibovici & Michal Szkup, 2021. "Financial Frictions and International Trade," Working Papers 2021-009, Federal Reserve Bank of St. Louis.
    • Handle: RePEc:fip:fedlwp:93275
    DOI: 10.20955/wp.2021.009
    Note: Publisher DOI: https://doi.org/10.1093/acrefore/9780190625979.013.714
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    2. Sena Kimm Gnangnon, 2023. "Duration of the Membership in the GATT/WTO, Structural Economic Vulnerability and Trade Costs," JRFM, MDPI, vol. 16(6), pages 1-32, May.

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    More about this item

    Keywords

    financial frictions; international trade; credit constraints; export decisions;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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