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2022-12-19T04:17:21Z
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Firm Heterogeneity under Financial Imperfection : Impacts of Trade and Capital Movement
Furusaway, Taiji
97053
Yanagawa, Noriyuki
97054
335
JEL Classification: F12, F21, G20, G30
Complementarity
financial institution
FDI
application/pdf
The paper examines the impacts of trade and capital movement between North and South, which differ in the quality of financial institution, on the productivity distribution and other characteristics of a financially-dependent industry. We find that financial imperfection causes firm heterogeneity and that trade and capital movement are complements in the sense that trade in goods affects the productivity distribution only when accompanied by international capital movement (trade induces capital outflow from South when capital has been internationally mobile). We also find that an international difference in financial development induces reciprocal foreign direct investment.
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technical report
日本経済国際共同センター
2010-10
Discussion paper series. CIRJE-F
CIRJE-F-768
AA11450569
eng
http://www.cirje.e.u-tokyo.ac.jp/research/dp/2010/2010cf768ab.html
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