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Exchange Rate Volatility and Financial Constraints
Jérôme Héricourt - Sandra Poncet
eBook Edition: 2013
 
This paper studies how firm-level export performance is affected by RER volatility and investigates whether this effect depends on existing financial constraints. Our empirical analysis relies on export data for more than 100,000 Chinese exporters over the period 2000-2006. We confirm a trade-deterring effect of RER volatility. We find that firms tend to export less and fewer products to destinations with higher exchange rate volatility and that this effect is magnified for financially vulnerable firms. As expected, financial development does seem to dampen this negative impact, especially on the intensive margin of export.(From Author)

eBook Contents

Non-technical summary - Abstract - Résumé non technique - Résumé court - Introduction - ER Volatility, financial constraints and exports: theoretical underpinnings - Data sources and empirical methodology - Results - Conclusion - List of working papers released by CEPII

eBook License: Copyrighted (Personal Use Only by downloading from CEPII)

Free PDF eBook - 583 Kb - 39 Pages