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Essays on International Trade and Finance
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| 자료유형 | 학위논문 |
|---|---|
| 서명/저자사항 | Essays on International Trade and Finance. |
| 개인저자 | Lopatin, Nikita. |
| 단체저자명 | Indiana University. Economics. |
| 발행사항 | [S.l.]: Indiana University., 2019. |
| 발행사항 | Ann Arbor: ProQuest Dissertations & Theses, 2019. |
| 형태사항 | 88 p. |
| 기본자료 저록 | Dissertations Abstracts International 81-04A. Dissertation Abstract International |
| ISBN | 9781085678940 |
| 학위논문주기 | Thesis (Ph.D.)--Indiana University, 2019. |
| 일반주기 |
Source: Dissertations Abstracts International, Volume: 81-04, Section: A.
Advisor: Beshkar, Mostafa. |
| 이용제한사항 | This item must not be sold to any third party vendors.This item must not be added to any third party search indexes. |
| 요약 | My dissertation consists of three chapters focusing on issues in international trade and finance. Specifically, I study the role of uncertainty in the international trade environment on the financing decisions of firms and on spillover effects of trade agreements on the financial sector.In my first chapter, I examine the role of export market uncertainty in the financing decisions of firms. To evaluate the effect of uncertainty reduction, I use the free trade agreement between Colombia and the USA that came into force in May 2012. Using firm-level data, and a diff-in-diff methodology, I find empirical evidence that Colombian firms that exported agricultural products to the USA experienced a decline in their leverage after the agreement's implementation. I further develop an oligopoly competition model with product market uncertainty where the source of uncertainty is the trade cost. The model predicts that the reduction in uncertainty leads to the decline in borrowing, higher output and higher profitsIn my second chapter, I extend the theoretical framework discussed above to study the effects of other sources of uncertainty, such as export demand volatility, on capital structure decisions of exporters. I demonstrate how the optimal debt level in the presence of uncertainty varies with production costs, market size, and the degree of product differentiation. I show that exporters can use debt to enhance their strategic position in the output markets.The final chapter investigates the effects of free trade agreements on the financial services industry in Colombia. We use Colombian firm-level exports data to demonstrate that free trade agreements have a differential impact on exporters, based on their sectors' financial vulnerability. Our empirical results suggest that the higher is exporter's dependence on external financing, the stronger is the exporter's benefit from trade liberalization. |
| 일반주제명 | Economics. Finance. |
| 언어 | 영어 |
| 바로가기 | 
: 이 자료의 원문은 한국교육학술정보원에서 제공합니다. |
