Data for: Learning, incomplete contracts and export dynamics: Theory and evidence from French firms

Abstract of associated article: Using French firm-level trade data, we provide empirical support for a heterogenous firm model in which exporting requires finding a local partner in each market. In the model, contracts are incomplete, exporters must learn the reliability of their partners through experience and export behaviour is state-dependent due to matching frictions. As predicted by our theoretical model, we find that better legal institutions alleviate contracting frictions especially in sectors with large contracting problems, thereby increasing state dependence more in those sectors. Finally, hazard rates depend on the quality of local legal institutions and decline with the age of the relationship, as unreliable partners are weeded out.

关联论文摘要：本文采用法国企业层面贸易数据，为异质性企业模型（heterogeneous firm model）提供了实证支撑——该模型指出，企业开展出口业务需在每个目标市场寻得当地合作伙伴。在该模型框架下，合同具有不完全性，出口商需通过合作经验逐步掌握合作伙伴的可靠程度，而匹配摩擦（matching frictions）使得出口行为呈现状态依赖（state-dependent）特征。正如理论模型所预测的，我们发现更完善的法律制度能够有效缓解契约摩擦，尤其在契约问题突出的行业中效果更为显著，进而在这些行业中进一步强化出口行为的状态依赖特性。最后，出口关系的退出风险率取决于当地法律制度的质量，且随着合作关系存续时长的增加而降低，这是由于可靠性不足的合作伙伴会被逐步淘汰出局。