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The micro patterns of export diversification under financial constraints

Author

Listed:
  • Angelo Secchi

    () (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Federico Tamagni

    () (SSSUP - Scuola Universitaria Superiore Sant'Anna [Pisa])

  • Chiara Tomasi

    () (UNITN - Università degli Studi di Trento)

Abstract

Combining detailed data on export transactions and an informative firm level measure of financing constraints, this paper provides new evidence on the extent and dynamics of product and geographical diversification of constrained exporters. Financial constraints associates with: (i) narrower product/destination margins; (ii) higher probability to drop products and destinations, (iii) higher loss of export value associated to dropping product or destination markets; (iv) higher probability to discard products with relatively high share in firm total export values, and (v) higher likelihood to drop country markets that are bigger, richer, geographically closer and with a relatively high share in total firm export value.
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Suggested Citation

  • Angelo Secchi & Federico Tamagni & Chiara Tomasi, 2014. "The micro patterns of export diversification under financial constraints," Post-Print hal-01297119, HAL.
    • Handle: RePEc:hal:journl:hal-01297119
    Note: View the original document on HAL open archive server: https://hal-paris1.archives-ouvertes.fr/hal-01297119
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    Cited by:

    1. Joachim Wagner, 2016. "A survey of empirical studies using transaction level data on exports and imports," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(1), pages 215-225, February.
    2. Wagner, Joachim, 2015. "Credit constraints and the extensive margins of exports: First evidence for German manufacturing," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 9, pages 1-17.
    3. Cilem Selin Hazir & Flora Bellone & Cyrielle Gaglio, 2019. "Local product space and firm-level churning in exported products," Industrial and Corporate Change, Oxford University Press, vol. 28(6), pages 1473-1496.
    4. Bassetti, Thomas & Dal Maso, Lorenzo & Lattanzi, Nicola, 2015. "Family businesses in Eastern European countries: How informal payments affect exports," Journal of Family Business Strategy, Elsevier, vol. 6(4), pages 219-233.
    5. Matteo Bugamelli & Andrea Linarello & Roberta Serafini, 2019. "The 'Margin call'. Export experience and firm entry into new export markets," Questioni di Economia e Finanza (Occasional Papers) 536, Bank of Italy, Economic Research and International Relations Area.
    6. Nieminen, Mika, 2020. "Multidimensional financial development, exporter behavior and export diversification," Economic Modelling, Elsevier, vol. 93(C), pages 1-12.
    7. Maria Bas & Ivan Ledezma, 2020. "Trade liberalization and heterogeneous firms’ adjustments: evidence from India," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 156(2), pages 407-441, May.
    8. Valeria Gattai, 2015. "Internationalisation and performance at the firm-level: what we learn from Italy," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 42(4), pages 475-509, December.

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    Keywords

    international trade; financial constraints;

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