We investigate the effect of credit constraints on the growth of exports at the micro level. We develop a stylized dynamic model showing that credit constraints play a key role in early stages of exporting, but not in later stages. Our empirical results using product level data on exports to 12...

Pervasive overbidding represents a well-documented feature of all-pay auctions. Aggregate bids exceed Nash predictions in laboratory experiments, and individuals often submit bids that guarantee negative profits. This paper examines three factors that may reduce pervasive overbidding: (a)...

A large literature has shown that geographic frictions reduce trade, but has not clarified precisely why. In this paper, we provide some insight into why such frictions matter by examining what parts of trade these frictions reduce most. Using data that track manufacturers' shipments within the...