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Credit constraints and the extensive margins of exports: First evidence for German manufacturing

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  • Wagner, Joachim

Abstract

This paper uses a unique newly constructed data set to investigate for the first time the link between credit constraints and the extensive margins of exports in Germany, one of the leading actors on the international market for goods. In line with theoretical considerations and comparable results reported for a small number of other countries the author reports a negative impact of credit constraints on both the number of goods exported and the number of export destination countries that is both statistically highly significant and large from an economic point of view.

Suggested Citation

  • Wagner, Joachim, 2015. "Credit constraints and the extensive margins of exports: First evidence for German manufacturing," Economics Discussion Papers 2015-16, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwedp:201516
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    References listed on IDEAS

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    16. Wagner, Joachim, 2015. "Credit constraints and the extensive margins of exports: First evidence for German manufacturing," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-17.
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    Cited by:

    1. Iacovone, Leonardo & Ferro, Esteban & Pereira-López, Mariana & Zavacka, Veronika, 2019. "Banking crises and exports: Lessons from the past," Journal of Development Economics, Elsevier, vol. 138(C), pages 192-204.
    2. Spiros Bougheas & Hosung Lim & Simona Mateut & Paul Mizen & Cihan Yalcin, 2018. "Foreign currency borrowing, exports and firm performance: evidence from a currency crisis," The European Journal of Finance, Taylor & Francis Journals, vol. 24(17), pages 1649-1671, November.
    3. Zhang, Zhiyue & Zhang, Wenhao & Wu, Qingyang & Liu, Jiahe & Jiang, Lei, 2024. "Climate Adaptation through Trade: Evidence and Mechanism from Heatwaves on Firms' Imports," China Economic Review, Elsevier, vol. 84(C).
    4. Wagner, Joachim, 2015. "Credit constraints and the extensive margins of exports: First evidence for German manufacturing," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-17.
    5. Kadochnikov, Sergey M. & Fedyunina, Anna A., 2017. "The impact of financial and human resources on the export performance of Russian firms," Economic Systems, Elsevier, vol. 41(1), pages 41-51.
    6. 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.
    7. Yue Lu & Mengyuan Wang & Junjie Hong & Songbo Wu, 2024. "How does the belt and road initiative promote China's import?," Review of International Economics, Wiley Blackwell, vol. 32(2), pages 394-445, May.
    8. Joachim Wagner, 2019. "Access to Finance and Exports – Comparable Evidence for Small and Medium Enterprises from Industry and Services in 25 European Countries," Open Economies Review, Springer, vol. 30(4), pages 739-757, September.
    9. Pietrovito, Filomena & Rancan, Michela, 2024. "Credit rationing and sustainable activities: A firm-level investigation," International Review of Economics & Finance, Elsevier, vol. 94(C).

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    More about this item

    Keywords

    credit constraints; exports; extensive margins;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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