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Financial development and survival of African agri-food exports


  • Mélise Jaud

    (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics, World Bank - Banque Mondiale - France)

  • Madina Kukenova

    (HEC Lausanne - Université de Lausanne)


This paper investigates the link between export survival of agri-food products and financial development. Our hypothesis is that financial developement differentially affects the survival of exports across products based on their need of external finance. We propose a test for the role of financial development by examining whether exports of products that are relatively more reliant on external capital survive longer when initiated in more financially developped countries. Our results suggest that agri-food products that require more external finance indeed sustain longer in foreign markets when exported from more financially developed countries.

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  • Mélise Jaud & Madina Kukenova, 2011. "Financial development and survival of African agri-food exports," Working Papers halshs-00586320, HAL.
  • Handle: RePEc:hal:wpaper:halshs-00586320
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    References listed on IDEAS

    1. Luis Araujo & Emanuel Ornelas, 2005. "Trust-Based Trade," IBMEC RJ Economics Discussion Papers 2005-08, Economics Research Group, IBMEC Business School - Rio de Janeiro.
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    Cited by:

    1. Maertens, Miet & Swinnen, Johan, 2015. "Agricultural trade and development: A value chain perspective," WTO Staff Working Papers ERSD-2015-04, World Trade Organization (WTO), Economic Research and Statistics Division.
    2. Roberto Álvarez & Ricardo A. López, 2014. "Access to banking finance and exporting," Industrial and Corporate Change, Oxford University Press, vol. 23(6), pages 1523-1539.
    3. Roberto Alvarez & Andrés Zahler, 2014. "Export Mix Changes and Firm Performance: Evidence from Chile," IDB Publications (Working Papers) 85354, Inter-American Development Bank.
    4. Joakim Gullstrand & Maria Persson, 2015. "How to combine high sunk costs of exporting and low export survival," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 151(1), pages 23-51, February.
    5. John C. Beghin & Miet Maertens & Johan Swinnen, 2017. "Nontariff Measures and Standards in Trade and Global Value Chains," World Scientific Book Chapters,in: Nontariff Measures and International Trade, chapter 2, pages 13-38 World Scientific Publishing Co. Pte. Ltd..
    6. Schuster, Monica & Maertens, Miet, 2013. "Food Standards, Heterogeneous Firms and Developing Countries’ Export Performance," Working Papers 152084, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics.
    7. Robert Grundke & Christoph Moser, 2014. "Hidden Protectionism? Evidence from Non-tariff Barriers to Trade in the United States," CESifo Working Paper Series 5142, CESifo Group Munich.
    8. Paul Brenton & Olivier Cadot & Martha Denisse Pierola, 2012. "Pathways to African Export Sustainability," World Bank Publications, The World Bank, number 9380, March.
    9. Roberto Alvarez & Ricardo López, 2013. "Financial development, exporting and firm heterogeneity in Chile," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 149(1), pages 183-207, March.
    10. AKOYI, Kevin Teopista & MAERTENS, Miet, 2016. "Private Sustainability Standards in the Ugandan Coffee Sector: Empty Promises or Catalysts for Development?," Working Papers 235004, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics.
    11. Johan Swinnen, 2014. "Global Agricultural Value Chains, Standards, and Development," RSCAS Working Papers 2014/30, European University Institute.
    12. Aslihan Atabek Demirhan, 2016. "To be exporter or not to be exporter? Entry–exit dynamics of Turkish manufacturing firms," Empirical Economics, Springer, vol. 51(1), pages 181-200, August.
    13. MAJUNE, Socrates, 2015. "A discrete time analysis of export duration in Kenya: 1995 -2014," MPRA Paper 68727, University Library of Munich, Germany.
    14. Álvarez, Roberto & Bertin, Mauricio Jara, 2016. "Banking competition and firm-level financial constraints in Latin America," Emerging Markets Review, Elsevier, vol. 28(C), pages 89-104.

    More about this item


    Financial development; external finance dependence; agri-food trade; SPS regulation; product risk index duration of trade;

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