杨汝岱| 第196期双周学术论坛：Trade Credit and Export: Evidence from China

一、主题：Trade Credit and Export: Evidence from China

二、主讲人：杨汝岱，北京大学经济学院副教授、博士生导师。2009年获北京大学中国经济研究中心经济学博士学位。北京大学城市与环境学院理学博士后，美国威斯康辛大学麦迪逊分校联合培养学生。主持多项国家社科基金项目、教育部人文社科项目等。其研究成果在《经济研究》、《管理世界》、World Development、Journal of Business Ethics等国内外高水平期刊发表数十篇。

三、时间：2017年4月19日（周三），12:30-13:30

四、地点：学院南路校区主教学楼910会议室

五、主持人：王雅琦，中央财经大学金融学院讲师

Abstract: The paper examines the effect of trade credit on export using matched firm accounting and disaggregated export datasets. The paper shows that trade credit has a positive effect on the export value of Chinese firms. The effect is larger for firms with a higher demand for short-term financing such as working capital, and thus smaller for the export shipped by air and larger for exporters with imports. The enhancing effect of trade credit is not weakened by the financial development of the destination country. The paper finds that trade credit is used for the financing of working capital rather than the extension of trade finance to their foreign customers. The results provide evidence on the role of alternative financing channels for China’s high economic growth.