Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data On Line Appendix
نویسنده
چکیده
In this appendix we expand the explanation in Subsection 4.3.1. The IV estimate of the export elasticity to finance is 7.8 times larger than the OLS estimate. We expect the attenuation bias of the OLS estimator to be of the such order of magnitude. This is why. We are interested in the following model of supply-induced variation in exports —demand variation is absorbed by the product-destination dummies, αpd— on variations in credit supply:
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