Financial Constraints and Firm Export Behavior - Sciences Po Access content directly
Preprints, Working Papers, ... Year :

Financial Constraints and Firm Export Behavior


The paper analyzes the link between financial constraints and firm export behavior. Our main finding is that firms enjoying better financial health are more likely to become exporters. The result contrasts with the previous empirical literature which found evidence that export participation improves firm financial health, but not that export starters display any ex-ante financial advantage. On the contrary, we find that financial constraints act as a barrier to export participation. Better access to external financial resources increases the probability to start exporting and also shortens the time before firms decide to serve foreign customers. This finding has important policy implications as it suggests that, in presence of financial markets imperfections, public intervention can be called for to help eficient but financially constrained firms to overcome the sunk entry costs into export markets and expand their activities abroad.
Fichier principal
Vignette du fichier
16-08-schiavo.pdf (375.17 Ko) Télécharger le fichier
Origin : Files produced by the author(s)

Dates and versions

hal-00973114 , version 1 (03-04-2014)


  • HAL Id : hal-00973114 , version 1
  • SCIENCESPO : 2441/9948


Flora Bellone, Patrick Musso, Lionel Nesta, Stefano Schiavo. Financial Constraints and Firm Export Behavior. 2008. ⟨hal-00973114⟩
190 View
2631 Download


Gmail Facebook Twitter LinkedIn More