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date: 28 June 2022

Financial Frictions and International Trade: A Reviewlocked

Financial Frictions and International Trade: A Reviewlocked

  • David Kohn, David KohnInstitute of Economics, Pontifical Catholic University of Chile
  • Fernando LeiboviciFernando LeiboviciFederal Reserve Bank of St. Louis
  •  and Michal SzkupMichal SzkupVancouver School of Economics, The University of British Columbia

Summary

This article reviews recent studies on the impact of financial frictions on international trade. We first present evidence on the relation between measures of access to external finance and export decisions. We then present an analytical framework to analyze the impact of financial frictions on firms’ export decisions. Finally, we review recent applications of this framework to investigate the impact of financial frictions on international trade dynamics across firms, across industries, and in the aggregate. We discuss related empirical, theoretical, and quantitative studies throughout.

Subjects

  • International Economics

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