Publication
Aug 2013
This paper investigates the link between firms' financial health, their borrowing ratio, and export exit. The analysis specifically focuses on the global financial crisis. The results show that deterioration in the financial position of firms has increased the hazard of export exit during the crisis. Moreover, the sensitivity of export exit to changes in the financial condition of firms is higher for those firms which face increases in loan spreads associated with the firm-specific interest rate.
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English (PDF, 31 pages, 222 KB) |
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Author | Holger Görg, Marina-Eliza Spaliara |
Series | Kiel Institute Working Papers |
Issue | 1859 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2013 Kiel Institute for the World Economy |