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Financial development and survival of African agri-food exports

Author

Listed:
  • Mélise Jaud

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, World Bank - Banque Mondiale - France)

  • Madina Kukenova

    (HEC Lausanne - Faculté des Hautes Etudes Commerciales (HEC Lausanne))

Abstract

This paper investigates the link between export survival of agri-food products and financial development. Our hypothesis is that financial developement differentially affects the survival of exports across products based on their need of external finance. We propose a test for the role of financial development by examining whether exports of products that are relatively more reliant on external capital survive longer when initiated in more financially developped countries. Our results suggest that agri-food products that require more external finance indeed sustain longer in foreign markets when exported from more financially developed countries.

Suggested Citation

  • Mélise Jaud & Madina Kukenova, 2011. "Financial development and survival of African agri-food exports," Working Papers halshs-00586320, HAL.
    • Handle: RePEc:hal:wpaper:halshs-00586320
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00586320
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    Cited by:

    1. AKOYI, Kevin Teopista & MAERTENS, Miet, 2016. "Private Sustainability Standards in the Ugandan Coffee Sector: Empty Promises or Catalysts for Development?," Working Papers 235004, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics.
    2. Johan Swinnen, 2014. "Global Agricultural Value Chains, Standards, and Development," RSCAS Working Papers 2014/30, European University Institute.
    3. Paul Brenton & Olivier Cadot & Martha Denisse Pierola, 2012. "Pathways to African Export Sustainability," World Bank Publications - Books, The World Bank Group, number 9380.
    4. Schuster, Monica & Maertens, Miet, 2013. "Food Standards, Heterogeneous Firms and Developing Countries’ Export Performance," Working Papers 152084, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics.
    5. Roberto Álvarez & Ricardo A. López, 2014. "Access to banking finance and exporting," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(6), pages 1523-1539.
    6. John C. Beghin & Miet Maertens & Johan Swinnen, 2017. "Nontariff Measures and Standards in Trade and Global Value Chains," World Scientific Book Chapters, in: John Christopher Beghin (ed.), Nontariff Measures and International Trade, chapter 2, pages 13-38, World Scientific Publishing Co. Pte. Ltd..
    7. Roberto Alvarez & Ricardo López, 2013. "Financial development, exporting and firm heterogeneity in Chile," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 149(1), pages 183-207, March.
    8. John C. Beghin & Miet Maertens & Johan Swinnen, 2017. "Nontariff Measures and Standards in Trade and Global Value Chains," World Scientific Book Chapters,in: Nontariff Measures and International Trade, chapter 2, pages 13-38 World Scientific Publishing Co. Pte. Ltd..
    9. Maertens, Miet & Swinnen, Johan, 2015. "Agricultural trade and development: A value chain perspective," WTO Staff Working Papers ERSD-2015-04, World Trade Organization (WTO), Economic Research and Statistics Division.
    10. Bhushan Praveen Jangam & Vaseem Akram, 2020. "Does financial integration drive export diversification? Evidence from a cross-country analysis," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 13(1), pages 45-61, April.
    11. Grundke, Robert & Moser, Christoph, 2019. "Hidden protectionism? Evidence from non-tariff barriers to trade in the United States," Journal of International Economics, Elsevier, vol. 117(C), pages 143-157.
    12. MAJUNE, Socrates, 2015. "A discrete time analysis of export duration in Kenya: 1995 -2014," MPRA Paper 68727, University Library of Munich, Germany.
    13. Álvarez, Roberto & Bertin, Mauricio Jara, 2016. "Banking competition and firm-level financial constraints in Latin America," Emerging Markets Review, Elsevier, vol. 28(C), pages 89-104.
    14. Joakim Gullstrand & Maria Persson, 2015. "How to combine high sunk costs of exporting and low export survival," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 151(1), pages 23-51, February.
    15. Zongo, Amara, 2020. "The Impact of Services Trade Restrictiveness on Food Trade," MPRA Paper 101658, University Library of Munich, Germany.
    16. Valeria Borsellino & Emanuele Schimmenti & Hamid El Bilali, 2020. "Agri-Food Markets towards Sustainable Patterns," Sustainability, MDPI, vol. 12(6), pages 1-35, March.
    17. Roberto Alvarez & Andrés Zahler, 2014. "Export Mix Changes and Firm Performance: Evidence from Chile," IDB Publications (Working Papers) 85354, Inter-American Development Bank.
    18. Fertö, I., 2017. "Economic Crisis And the Fragility of World Wine Export," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 9(4).
    19. Bojnec, Štefan & Fertő, Imre, 2018. "Economic Crisis and the Fragility of Comparative Advantage in European Agriculture," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 67(3), September.

    More about this item

    Keywords

    Financial development; external finance dependence; agri-food trade; SPS regulation; product risk index duration of trade;
    All these keywords.

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