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Export Survival and Foreign Financing

Author

Listed:
  • Laura D’Amato

    (Universidad de Buenos Aires - IIEP)

  • Máximo Sangiácomo

    (BCRA y UNDLP)

  • Martín Tobal

    (Banco de México)

Abstract

Exporting is a finance-intensive activity. But credit markets are frequently underdeveloped and domestic financing tends to be scarce in developing countries, for which a strong export sector is crucial for economic development. Thus, this paper investigates whether foreign financing provides better financing conditions than domestic financing and/or otherwise unavailable external finance, thus increasing export survival rates in a developing country. To that end, it assembles a unique dataset, rarely available for other countries, containing information on foreign credit obtained by Argentine exporters. Based on the empirical models conventionally used in the export survival literature—specifically the probit random effects and the clog-log setups—we provide evidence of a positive link between foreign financing and export survival. This finding is confirmed using an instrumental variable approach.

Suggested Citation

  • Laura D’Amato & Máximo Sangiácomo & Martín Tobal, 2020. "Export Survival and Foreign Financing," Working Papers 16, Red Nacional de Investigadores en Economía (RedNIE).
    • Handle: RePEc:aoz:wpaper:16
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    Cited by:

    1. Jelena Dimovski & Gabrijela Mitic & Milan Veselinovic, 2025. "Assessing the Financial Vulnerability in a Changing Business Environment: The Case of E-Commerce Industry," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 50-63, March.

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    Keywords

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    JEL classification:

    • 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

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