Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/75000 
Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
LICOS Discussion Paper No. 252
Verlag: 
Katholieke Universiteit Leuven, LICOS Centre for Institutions and Economic Performance, Leuven
Zusammenfassung: 
Many firms cite financial constraints as some of the most important impediments to their investment and growth. Using a unique data set from the Czech Republic this paper investigates the importance of financing constraints in the context of exporters. It finds that exporters are less financially constrained than non-exporters. However, after carefully correcting for possible endogeneity and selection issues, the evidence points to less constrained firms self-selecting into exporting rather than exporting alleviating firms' financial constraints. The analysis suggests that easing firms' credit constraints may play an important role in facilitating exporting and that welldeveloped financial markets that would decrease firms' cost of external finance may be needed in order to benefit from selling in foreign markets.
Schlagwörter: 
exporting
cash flow
financial constraints
JEL: 
F21
F23
F36
Dokumentart: 
Working Paper

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