Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Wang, Ruoying 

Working Paper
Exporting and Frictions in Input Markets : Evidence from Chinese Data

This paper investigates the impact of international trade on input market distortions. We focus on a specific friction, binding borrowing constraints in capital markets. We propose a theoretical model where a firm's demand for capital is constrained by an initial asset allocation and past sales. While the initial distribution of assets induces misallocation if the asset endowment at more productive firms does not fully cover their demand for capital, the dependence of the borrowing constraint from past sales proxies for cross-firm differences in the cost of default, which is empirically ...
Finance and Economics Discussion Series , Paper 2017-077

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

F12 1 items

F14 1 items

FILTER BY Keywords

PREVIOUS / NEXT