The authors show that exported products exit the US market sooner if they violate the Heckscher-Ohlin notion of comparative advantage. Crucially, this pattern is stronger when exporting country has a well-developed banking system, measured by a high ratio of bank credit over the GDP. Banks thus push firms away from exports that are facing an uphill battle on a competitive foreign market due to a suboptimal use of the domestic factor endowment. The...
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INFORMATION
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2012/06/01
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Document de travail de recherche sur les politiques
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WPS6111
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1
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1
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2012/06/01
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Disclosed
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Finance, comparative advantage, and resource allocation
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comparative advantage
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