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STATA file showing that during a crisis the export growth of a sector with a relatively high reliance on external finance, such as electric machinery, is reduced on average by 4 percentage points compared to a sector like footwear whose dependence is relatively low.  We also find that exports of industries that tend to have more tangible assets grow relatively faster during a banking crisis confirming the hypothesis about the importance of collateral in a context when access to finance becomes scarcer. Finally, using a proxy  for trade credit dependence (Fisman and Love,2003) we show that exports of industries relatively more reliant on inter-firm finance are not affected by a banking crisis more than others.  A potential explanation for this finding is that if importers do not face a crisis themselves they might be willing to accept less favorable payment conditions and extend trade credit to their suppliers in order to allow them to overcome their temporary credit constraints.

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