The Impact of Financial Development on the Innovation-based Export: Do All Firms Benefit Equally?∗
نویسنده
چکیده
This paper addresses how financial development affects product quality and firmlevel exports depending on the firm’s productivity. To this goal, I propose a heterogeneous firms model with endogenous quality, credit constraints and heterogeneous productivity of a firm. I show theoretically and confirm empirically that lower financial constraints result in higher-quality output and higher exports volumes, whereas the effect is stronger for more productive firms. JEL classification: F10, F14, G20
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