Exports and Credit Constraints Under Incomplete Information: Theory and Evidence from China
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This paper examines why credit constraints for domestic and exporting firms arise in a setting where banks do not observe firms' productivities. To maintain incentive-compatibility, banks lend below the amount needed for first-best production. The longer time needed for export shipments induces a
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美国国家经济研究局创建时间：
2011-04-01
