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http://hdl.handle.net/10419/30181
  

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dc.contributor.authorBuch, Claudia M.en_US
dc.contributor.authorKesternich, Irisen_US
dc.contributor.authorLipponer, Alexanderen_US
dc.contributor.authorSchnitzer, Monikaen_US
dc.date.accessioned2010-03-26T15:51:00Z-
dc.date.available2010-03-26T15:51:00Z-
dc.date.issued2010en_US
dc.identifier.isbn978-3-86558-599-8en_US
dc.identifier.urihttp://hdl.handle.net/10419/30181-
dc.description.abstractThe crisis on international financial markets that started in 2007 has shown the potential links between the financial sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack of demand, but also because of restricted access of firms to external finance. In this paper, we explore the impact of access to external finance on firms' choices to export or to engage in FDI. We simultaneously model a firm's decision to engage in FDI and in exports, and we assess the importance of financial factors for this choice (the extensive margin) as well as for the volume of activities (the intensive margin). We find that financial frictions matter, in particular for the decision to engage internationally.en_US
dc.language.isoengen_US
dc.publisherDt. Bundesbank Frankfurt, M.en_US
dc.relation.ispartofseriesDiscussion Paper Series 1: Economic Studies 2010,03en_US
dc.subject.jelF2en_US
dc.subject.jelG2en_US
dc.subject.ddc330en_US
dc.subject.keywordMultinational firmsen_US
dc.subject.keywordexports versus FDIen_US
dc.subject.keywordfinancial constraintsen_US
dc.subject.keywordheterogeneityen_US
dc.subject.keywordproductivityen_US
dc.subject.stwMultinationales Unternehmenen_US
dc.subject.stwExporten_US
dc.subject.stwDirektinvestitionen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwFinanzmarktkriseen_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwWelten_US
dc.titleExports versus FDI revisited: does finance matter?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn621686166en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:201003-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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