Publications
My research has been published in general-interest journals (e.g. QJE, JPE, REStud, REStat), field journals (e.g. JIE, JDE, JME), reference journals (e.g. ARE), and policy forums (e.g. CEPR-ECB, World Bank, Vox EU).
Innovation with Global Firms pdf
ECB Sintra Forum on Central Banking E-Proceedings 2024 (forthcoming).
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The Origins of Firm Heterogeneity: A Production Network Approach pdf
Journal of Political Economy 130 (2022), p.1765-1804. (with Andrew Bernard, Emmanuel Dhyne, Glenn Magerman, Andreas Moxnes)
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Growing like China: Firm Performance and Global Production Line Position pdf
Journal of International Economics 130 (2021), 103445. (with Davin Chor, Zhihong Yu)
Featured as VOX column at www.voxchina.org, April 2021.
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Trade and Management pdf
Review of Economics and Statistics 103 (2021), p.1-18. (with Nick Bloom, John Van Reenen, Stephen Sun, Zhihong Yu)
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Host-Country Financial Development and Multinational Activity pdf appendix
European Economic Review 115 (2019), p.192-220. (with Kamran Bilir, Davin Chor)
Featured as VOX column at www.voxeu.org, May 2019.
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Trade, Productivity, and (Mis)allocation
CEPR DP 14203 (2018). (with Antoine Berthou, Jong Hyun Chung and Charlotte Sandoz)
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Multi-Product Firms and Product Quality pdf
Journal of International Economics 109 (2017), p.116-137. (with Zhihong Yu)
Featured as VOX column at www.voxeu.org, Sep 2017.
How Firms Export: Processing vs. Ordinary Trade with Financial Frictions pdf slides
Journal of International Economics 100 (2016), p.120-137. (with Zhihong Yu)
Featured as VOX column at www.voxeu.org, May 2013.
International Trade, Multinational Activity, and Corporate Finance pdf
Annual Review of Economics 7 (2015), p.119-146. (with Fritz Foley)
Financial Development and the Choice of Trade Partners pdf slides
Journal of Development Economics 116 (2015), p.122-145. (with Jackie M.L. Chan)
Global Value Chains and Multinational Activity with Financial Frictions pdf
2015. In The Age of Global Value Chains: Maps and Policy Issues, e.d. J. Amador and F. di Mauro. CEPR E-book, http://www.voxeu.org/content/age-global-value-chains-maps-and-policy-issues.
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Firm Exports and Multinational Activity under Credit Constraints pdf slides
Review of Economics and Statistics 97 (2015), p.574-588. (with Shang-Jin Wei, Zhiwei Zhang)
Credit Constraints, Heterogeneous Firms, and International Trade pdf slides
Review of Economic Studies 80 (2013), p.711-744. Reprinted in Finance and Growth, ed. A. Demirgüç-Kunt and R. Levine. International Library of Critical Writings in Economics 2018: 349, Edward Elgar Publishing.
Export Prices across Firms and Destinations pdf slides
Quarterly Journal of Economics 127 (2012), p.379-436. (with Zhiwei Zhang)
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Off the Cliff and Back: Credit Conditions and International Trade during the Global Financial Crisis pdf slides
Journal of International Economics 87 (2012), p.117-133. (with Davin Chor)
Featured in The NBER Digest, December 2010.
Featured as VOX column at www.voxeu.org, February 2010.
Credit Constraints and the Adjustment to Trade Reform pdf
2010. In Trade Adjustment Costs in Developing Countries: Impacts, Determinants and Policy Responses, ed. G. Porto and B. Hoekman. The World Bank and CEPR.
Volatility and Growth: Credit Constraints and the Composition of Investment pdf slides
Journal of Monetary Economics 57 (2010), p.246-265. (with Philippe Aghion, Marios Angeletos, Abhijit Banerjee)
China's Exporters and Importers: Firms, Products and Trade Partner pdf
NBER Working Paper 15249 (2009). (with Zhiwei Zhang)
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Credit Constraints, Equity Market Liberalizations and International Trade pdf slides