This paper studies how firm-level export performance is affected by Real Exchange Rate (RER) volatility and investigates whether this effect depends on existing financial constraints. The empirical analysis relies on export data for more than 100,000 Chinese exporters over the 2000-6 period. The...

Using a new database of French municipalities that covers 821 towns and two elections (2001 and 2008), we examine how the budget structure, degree of electoral competition and the economic context affect the share of votes for the incumbent. We take into account the institutional details of the...

[eng] Does market volatility increase ? . The French stock exchange has known a deep fall in prices for 3 years with great uncertainties on economic activity and firms' finances. So, this article deals with the size of market' s turbulences, their origins and the measures to take. A proper...

[fre] Cet article propose d’évaluer la capacité de la politique monétaire à influencer le produit et l’inflation dans les huit PECO ayant récemment adhéré à l’UE et les potentielles évolutions de ces mécanismes de transmission à la faveur des changements de régime monétaire...

Using a database of more than 1,100 firms in the MENA region, this article looks at the determinants of trade credit use. We show that the difficulty of accessing<np pagenum="II"/> bank credit positively influences the use of trade credit, and thus demonstrate the (even imperfect) substitutability of bank credit...

In this paper, we assess the success of the ongoing financial system reforms in China by investigating the extent to which firms are financially constrained. We focus on the role played by Foreign Direct Investment (FDI) in funding the Chinese corporate sector, and analyze whether incoming...

How do firms' sales interact across markets? Are foreign and domestic sales complements or substitutes? Using a large French firm-level database that combines balance-sheet and product-destination-specific export information over the period 1995-2001, we study the interconnections between...

Using a large cross-country, firm-level database containing 5000 firms in 9 developing and emerging economies, we study how financial factors affect both firms' export decisions and the amount exported by firms. First, our results highlight the importance of the impact of firms' access to...