Are Banks Engines of Export? Financial Structures and Export Dynamics

Minetti, Raoul ; Mulabdic, Alen ; Ruta, Michele ; Zhu, Susan

World Bank, Washington, DC

关键词: EXPORT COMPETITIVENESS;    BANKING SERVICES;    EXPORT FINANCE;    FINANCIAL STRUCTURES;    EXPORT DYNAMICS;   

DOI  :  10.1596/1813-9450-8621
RP-ID  :  WPS8621

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper studies the impact offinancial structures on the dynamics of the export sectorusing rich data from over 60 countries. The results revealthat bank-oriented financial systems boost the size of theexport sector more than market-oriented financial systems.However, especially in middle- and low-income countries,this effect mostly stems from banks slowing downexporters' exit rather than promoting firms' entryinto export. The reduced exit from the export sector appearsto reflect domestic banks' tendency to evergreen loansto exporters ("soft budget constraint") more thanbanks' buffering role in difficult times. Foreign banksmitigate this effect and enhance the dynamism of the export sector.