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An Empirical Analysis of Interest Rates and Exports under Imperfect Credit Markets

by Pu Chen, Nan Xu, Chunyang Wang

ARTICLE | Applied Economics Letters | Vol. 22, 2015


This article studies the empirical relationship between interest rates and exports under imperfect credit markets. Our findings show that a well-developed credit market with ample credits has a positive effect on exports and interest rates exert a negative effect on exports. In particular, we find that in a well-developed credit market with ample credits, interest rates have a stronger negative effect on the exports.