Financial imperfections, product quality, and international trade

Crinò, Rosario; Ogliari, Laura

doi:10.1016/j.jinteco.2016.10.005

Cited by 74 publications

(60 citation statements)

References 69 publications

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“…Headquarter services also affect the quality of the goods produced. The basic setup, therefore, is consistent with research by Crinò and Ogliari (2015) on export quality.…”

Section: Foreign Productionsupporting

confidence: 80%

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Homeward bound FDI: Are migrants a bridge over troubled finance?

2016

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Migrants can lower cross-border investment barriers, help investors by providing information about their homeland and reduce transaction costs by sharing expertise on regulations, customs and procedures. In addition to generating these well-known networking effects, migrants can also provide valuable information about local finance, thereby easing the credit constraints foreign investors faced during the 2007 financial crisis. This paper sheds new light on the underlying mechanisms through which migration may affect foreign investment in the migrant's homeland by distinguishing between the effects on FDI's intensive and extensive margins. Gravity estimates for 140 countries for the period 2003-2012 suggest that migrants exert a positive effect on bilateral FDI. However, financial constraints moderate this effect, primarily through the extensive margin. Additionally, quantile regression reveals that the interaction between migration and credit constraints is significant only for the lower levels of FDI. Our findings contribute to a better understanding of the interplay among migration, financial constraints and FDI.

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“…Headquarter services also affect the quality of the goods produced. The basic setup, therefore, is consistent with research by Crinò and Ogliari (2015) on export quality.…”

Section: Foreign Productionsupporting

confidence: 80%

“…The model closely follows standard trade and FDI setups like those described by Melitz (2003), Helpman et al (2008), Manova (2013), and Crinò and Ogliari (2015).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Homeward bound FDI: Are migrants a bridge over troubled finance?

2016

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“…The advantage of this strategy over a simple cross-country regression is the possibility to control for time-varying country characteristics potentially correlated with …-nancial development. 21 We are also interested in the vector of coe¢ cients 4 , which measure the impact of export opportunities and are identi…ed similarly. Following, among others, Manova (2013), our preferred proxy for …nancial development (F D ot 1 ) is private credit, which is a well-measured and internationally comparable indicator of the size of the …nancial system.…”

Section: Baseline Estimatesmentioning

confidence: 99%

Trade, Finance, and Endogenous Firm Heterogeneity

Bonfiglioli

Crinò

Gancia³

2018

Journal of the European Economic Association

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. We study how financial frictions affect firm-level heterogeneity and trade. We build a model where productivity differences across monopolistically competitive firms are endogenous and depend on investment decisions at the entry stage. By increasing entry costs, financial frictions lower the exit cutoff and hence the value of investing in bigger projects with more dispersed outcomes. As a result, credit frictions make firms smaller and more homogeneous, and hinder the volume of exports. Export opportunities, instead, shift expected profits to the tail and increase the value of technological heterogeneity. We test these predictions using comparable measures of sales dispersion within 365 manufacturing industries in 119 countries, built from highly disaggregated US import data. Consistent with the model, financial development increases sales dispersion, especially in more financially vulnerable industries; sales dispersion is also increasing in measures of comparative advantage. These results can be important for explaining the effect of financial development and factor endowments on export sales. Terms of use: Documents inJEL-Codes: F120, F140.

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“…Until it is performed, it is useless to attempt the second. 30 Hoover replied shortly, simply asking for fifty more copies of the report. 31 But is Carver's subsequent response that mostly concerns us.…”

Section: After Harvard: What Must We Do To Save Our Economic System?mentioning

confidence: 99%

“Survival Value and a Robust, Practical, Joyless Individualism”: Thomas Nixon Carver, Social Justice, and Eugenics

Fiorito¹,

Orsi²

2017

History of Political Economy

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in ABSTRACTThe aim of this paper is to provide a compressive assessment of Thomas Nixon Carver's thought -from his early formative years in the 1880s to his post WWII career as a journalist and pamphleteer. The main (albeit not exclusive) focus of this paper will be on the theoretical and philosophical coordinates of Carver's "new liberalism" -his own definition -and how this broad vision was intrinsically connected with an explicit hierarchical and eugenic approach to human nature. Just as important, what follows is also an attempt to increase our general understanding of the extent in which eugenic considerations permeated the realm of political economy during the first decades of the last century and how, in some specific cases as that of Carver, this influence persisted after the end of the Progressive Era.

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Financial imperfections, product quality, and international trade

Cited by 74 publications

References 69 publications

Homeward bound FDI: Are migrants a bridge over troubled finance?

Homeward bound FDI: Are migrants a bridge over troubled finance?

Trade, Finance, and Endogenous Firm Heterogeneity

“Survival Value and a Robust, Practical, Joyless Individualism”: Thomas Nixon Carver, Social Justice, and Eugenics

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