Diese Arbeit geht der Frage nach, wie Außenhandel zu Wirtschaftswachstum führen kann. Da anhaltendes Wirtschaftswachstum nur durch technischen Fortschritt möglich ist, muss Außenhandel deshalb auf die Rate des technischen Fortschritts wirken um Wirtschaftswachstum beeinflussen zu können....

Trade credits are an important financing tool for internationally active firms. This is surprising, as trade credits are generally more expensive than bank credits and thus a costly substitute for bank financing. In this paper, we investigate the relation between trade credits and bank credits...

Internationally active firms rely intensively on trade credits even though they are considered particularly expensive. This phenomenon has been little explored so far. Our theoretical analysis shows that trade credits can alleviate financial constraints arising from asymmetric information...

Internationally active firms rely intensively on trade credits even though they are considered particularly expensive. This phenomenon has been little explored so far. Our theoretical analysis shows that trade credits can alleviate financial constraints arising from asymmetric information...