Credit constraints and exports: Evidence for German manufacturing enterprises
Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
Standard
Credit constraints and exports : Evidence for German manufacturing enterprises. / Wagner, Joachim.
in: Applied Economics, Jahrgang 46, Nr. 3, 22.01.2014, S. 294-302.Publikation: Beiträge in Zeitschriften › Zeitschriftenaufsätze › Forschung › begutachtet
Harvard
APA
Vancouver
Bibtex
}
RIS
TY - JOUR
T1 - Credit constraints and exports
T2 - Evidence for German manufacturing enterprises
AU - Wagner, Joachim
PY - 2014/1/22
Y1 - 2014/1/22
N2 - This study uses newly available enterprise-level data for firms from manufacturing industries in Germany to test for the link between credit constraints, measured by a credit-rating score from the leading credit-rating agency Creditreform, and exports. In line with hypotheses from a theoretical model, we find a positive link between a better credit-rating score of a firm and both the probability that the firm is an exporter and a higher share of exports in total sales. This link, though statistically highly significant, is not very strong from an economic point of view. While empirical evidence for the hypothesis that credit-constrained firms are less likely to start to export is, at best, weak, we find no evidence for a statistically significant difference in credit-rating scores between firms that stopped to export and firms that continued to export.
AB - This study uses newly available enterprise-level data for firms from manufacturing industries in Germany to test for the link between credit constraints, measured by a credit-rating score from the leading credit-rating agency Creditreform, and exports. In line with hypotheses from a theoretical model, we find a positive link between a better credit-rating score of a firm and both the probability that the firm is an exporter and a higher share of exports in total sales. This link, though statistically highly significant, is not very strong from an economic point of view. While empirical evidence for the hypothesis that credit-constrained firms are less likely to start to export is, at best, weak, we find no evidence for a statistically significant difference in credit-rating scores between firms that stopped to export and firms that continued to export.
KW - Economics
KW - credit constraints
KW - exports
KW - Germany
UR - http://www.scopus.com/inward/record.url?scp=84886828453&partnerID=8YFLogxK
U2 - 10.1080/00036846.2013.839866
DO - 10.1080/00036846.2013.839866
M3 - Journal articles
VL - 46
SP - 294
EP - 302
JO - Applied Economics
JF - Applied Economics
SN - 0003-6846
IS - 3
ER -