Financial liberalization and the relationship-specificity of exports |
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| Authors: | Fabrice Defever Jens Suedekum |
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| Institution: | 1. University of Nottingham, Centre for Economic Performance (LSE), GEP and CESifo, United Kingdom;2. Mercator School of Management, University of Duisburg–Essen, CESifo and IZA, Germany |
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| Abstract: | We investigate the causal impact of equity market liberalizations on sectoral export performance across 91 countries (1980–1997). The increased availability of external finance has boosted trade of industries that intensively use relationship-specific inputs, and lowered exports of industries using standardized inputs. |
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| Keywords: | F14 F36 G20 |
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