Date： March 21，2017
Venue：Conference Room 106B, Zhonghui Building, Jinan University
Sponsor：The Institute for Economic and Social Research (IESR)
Topic：Financial development and exports: Evidence from Chinese micro-data
Liping Lu is an assistant professor at the department of finance at VU University Amsterdam. He is also a candidate fellow at Tinbergen Institute. His research interests include empirical banking, development economics, international trade, Chinese economy, law and finance. He gained his PhD in Finance at Tilburg University in June 2013. He has published papers in Journal of Financial Intermediation, Journal of Banking and Finance and Economics Letters. Prior to his employment at the VU University Amsterdam, he holds visiting positions in the European Bank for Reconstruction and Development and the Bank of Finland.
Local financial development can enhance exports through alleviating the credit constraints of exporting firms. We use the changing exchange rate as a tool to identify the enhancing effect of local financial development on the export. We find that local financial development can enhance the intensive and extensive margins of export when the RMB depreciates versus other currencies. This enhancing effect is more pronounced for firms with higher external financial dependence, higher intangible assets, smaller firms, non-state owned firms, firms in east China, and firms with lower proportion of ordinary trade. Our findings substantiate the enhancing effect of local financial development on the export.
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