This chapter reviews the state of the international trade literature on multinational firms. This
literature addresses three main questions. First, why do some firms operate in more than …

An emerging new literature brings unique ideas from corporate finance to the study of
international trade and investment. Insights about differences in the development of financial …

We examined how Fintech affects Chinese firms' OFDI. By using the regional Fintech index,
we identified potential channels through which Fintech affects firms' OFDI. We show that …

In the last decade, economists have produced a considerable body of research suggesting
that the historical origin of a country's laws is highly correlated with a broad range of its legal …

This paper empirically investigates the various effects that source and destination countries'
financial development (SFD and DFD respectively) have on foreign direct investment (FDI) …

We study the collapse of international trade flows during the global financial crisis using
detailed data on monthly US imports. We show that credit conditions were an important …

Financial market imperfections severely restrict international trade flows because exporters
require external capital. This article identifies and quantifies the three mechanisms through …

We conduct a firm-level analysis of borrowing in US dollars by nonfinancial corporates from
outside the United States. We find that emerging market firms with already high cash …

We provide firm-level evidence that credit constraints restrict international trade and affect
the pattern of multinational activity. We show that foreign affiliates and joint ventures in …

We study the sensitivity of credit supply to bank financial conditions in 16 emerging
European countries before and during the financial crisis. We use survey data on 10,701 …