@inproceedings{Berthou2006Financial,
abstract = {This paper studies the role of financial market imperfections in the way countries'
exports react to a currency depreciation. Using quarterly data for 27 developed and
developing countries over the period 1990-2005, we show that the impact of a depreciation
will be less positive - or even negative - for a country as: (i) firms borrow in foreign currency
; (ii) they are credit constrained ; (iii) they are specialized in industries that require
more external capital; (iv) the depreciation's or devaluation's magnitude is large. This
last result confirms the existence of a non-linear relationship between an exchange rate
depreciation and a country's exports reaction when financial imperfections are observed.
This work offers a new explanation for the consequences of recent currency crises in middle
income countries.},
author = {Antoine Berthou and Nicolas Berman},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {F37; F32; F10; 330; International Trade; Exchange Rate Movements; Financial Development; Financial Market Imperfections},
language = {eng},
number = {3},
series = {Proceedings of the German Development Economics Conference, Berlin 2006 / Verein f\"{u}r Socialpolitik, Research Committee Development Economics},
title = {Financial Market Imperfections and the impact of exchange rate movements on exports},
url = {http://hdl.handle.net/10419/19831},
year = {2006}
}
