Export market exit, financial pressure and the crisis

Görg, H. and Spaliara, M.E. (2013) Export market exit, financial pressure and the crisis. Working Paper. Centre for Economic Policy Research, London, UK.

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Publisher's URL: http://www.cepr.org/pubs/dps/DP9599


Using firm-level data for the UK, we investigate the link between firms’ financial health, borrowing ratio and export exit, paying special attention to the recent financial crisis. Our results show that deterioration in the financial position of firms has increased the hazard of export exit during the crisis. We also find that the sensitivity of export exit to changes in firms’ financial condition is higher during the crisis for those firms which face increases in loan spreads associated with the firm-specific interest rate.

Item Type:Research Reports or Papers (Working Paper)
Keywords:export market exit, financial crisis, financial pressure
Glasgow Author(s) Enlighten ID:Spaliara, Professor Marina Eliza
Authors: Görg, H., and Spaliara, M.E.
Subjects:H Social Sciences > HG Finance
College/School:College of Social Sciences > Adam Smith Business School > Economics
Research Group:Working paper
Journal Name:Centre for Economic Policy Research
Journal Abbr.:CEPR
Publisher:Centre for Economic Policy Research

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