融资约束与异质性企业出口前沿研究述评

Review on Frontier Research of Credit Constraints and Heterogeneous Firms' Exports

融资约束与异质性企业出口是贸易金融领域研究的一个重要理论问题。本文概括性解读了融资约束的成因、融资约束水平的测度、融资约束对异质性企业出口的影响机理与实证分析等多方面前沿研究进展,讨论存在的问题,并预示未来该领域的研究范式与方向。本文的贡献不仅对该领域后续研究提供重要参考,更是对中国深化贸易金融改革,实现贸易经济长期稳态发展,具有重要的理论价值和极强的现实意义。

The impact of credit constraints on heterogeneous firms＇ exports has long been a momentous theoretical issue in the trade finance spectrum. This paper systematically reviews the frontier research progresses, which include the causes and measure of credit constraints, the impacting mechanism and empirical analysis of credit constraints on heterogeneous firms＇ exports and further proposes the paradigms and orientations of future research in this spectrum by probing into the underling shortcomings and problems of current relevant researches. The main contributions of this paper lie not just in providing precious reference value for follow-up studies, but also in endowing important theoretical value and even constructive realistic meaning to China＇s deepening trade finance reforms and the fulfillment of long- term stable development of the economy and exports.