Mostrar el registro sencillo del ítem
Financial constraints and international trade with endogenous mode of competition
| dc.rights.license | open | en_US |
| hal.structure.identifier | Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi] | |
| dc.contributor.author | BOUET, Antoine
IDREF: 031360629 | |
| hal.structure.identifier | Laboratoire d'analyse et de recherche en économie et finance internationales [Larefi] | |
| dc.contributor.author | VAUBOURG, Anne-Gael | |
| dc.date.accessioned | 2020-02-19T09:02:33Z | |
| dc.date.available | 2020-02-19T09:02:33Z | |
| dc.date.issued | 2016 | |
| dc.identifier.issn | 0378-4266 | en_US |
| dc.identifier.uri | https://oskar-bordeaux.fr/handle/20.500.12278/3537 | |
| dc.description.abstractEn | The paper examines how financial constraints affect firms' decisions to export when the mode of intra-sectoral competition is endogenous. We propose an extension of Neary and Tharakan's (2012) model, in which firms resort to external funders to finance investments in production capacities. Sectors differ in financial constraint and the cost of capital increases with the level of financial constraint. We first show that a weaker financial constraint allows firms to adopt a Cournot (rather than a Bertrand) pricing scheme and generate a high duopoly profit. Consequently, less financially constrained sectors are more likely to export. We also exhibit a new transmission channel of financial crisis. By increasing the financial cost of exporting and making it more difficult to engage in a Cournot behavior, a financial shock reduces both the intensive and extensive margins of trade. | |
| dc.language.iso | EN | en_US |
| dc.subject.en | International trade | |
| dc.subject.en | Bertrand competition | |
| dc.subject.en | Cournot competition | |
| dc.subject.en | Financial constraint | |
| dc.subject.en | Production capacity | |
| dc.title.en | Financial constraints and international trade with endogenous mode of competition | |
| dc.type | Article de revue | en_US |
| dc.identifier.doi | 10.1016/j.jbankfin.2016.03.007 | en_US |
| dc.subject.hal | Économie et finance quantitative [q-fin] | en_US |
| dc.subject.jel | G - Financial Economics::G0 - General::G01 - Financial Crises | en_US |
| dc.subject.jel | G - Financial Economics::G1 - General Financial Markets::G11 - Portfolio Choice; Investment Decisions | en_US |
| dc.subject.jel | G - Financial Economics::G3 - Corporate Finance and Governance::G31 - Capital Budgeting; Fixed Investment and Inventory Studies; Capacity | en_US |
| dc.subject.jel | F - International Economics::F1 - Trade::F12 - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation | en_US |
| bordeaux.journal | Journal of Banking and Finance | en_US |
| bordeaux.page | 179-194 | en_US |
| bordeaux.volume | 68 | en_US |
| bordeaux.hal.laboratories | Groupe de Recherche en Economie Théorique et Appliquée (GREThA) - UMR 5113 | en_US |
| bordeaux.institution | Université de Bordeaux | en_US |
| bordeaux.peerReviewed | oui | en_US |
| bordeaux.inpress | non | en_US |
| hal.identifier | hal-03428485 | |
| hal.version | 1 | |
| hal.date.transferred | 2021-11-15T09:42:46Z | |
| hal.export | true | |
| bordeaux.COinS | ctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=Journal%20of%20Banking%20and%20Finance&rft.date=2016&rft.volume=68&rft.spage=179-194&rft.epage=179-194&rft.eissn=0378-4266&rft.issn=0378-4266&rft.au=BOUET,%20Antoine&VAUBOURG,%20Anne-Gael&rft.genre=article |
Archivos en el ítem
| Archivos | Tamaño | Formato | Ver |
|---|---|---|---|
|
No hay archivos asociados a este ítem. |
|||