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global recession exploring a rich firm-level data set from Spain. The analysis is motivated by the surprisingly strong export … performance of Spain in the aftermath of the great trade collapse (dubbed by some as the 'Spanish export miracle'). The focus of … productivity, which led to an overall decline in the productivity of a significant number of industries in Spanish manufacturing. …
Persistent link: https://www.econbiz.de/10011327308
global recession by exploring a rich firm-level data set from Spain. The focus of our analysis is on changes at the extensive … number of industries in Spanish manufacturing. We also briefly explore two factors that might help explain the surprisingly … strong export performance of Spain in the aftermath of the great trade collapse: improved aggregate competitiveness due to …
Persistent link: https://www.econbiz.de/10011589905
rich micro data from Spain that exploits the global financial crisis as an exogenous shock to credit supply. We find that …
Persistent link: https://www.econbiz.de/10012492954
We examine the role of demand composition in explaining the trade collapse and recovery during the ongoing covid-19 crisis. We apply an import-intensity-adjusted measure of demand to examine import trends in 40 advanced and emerging economies over the period 1Q95 to 4Q20. We focus on the crisis...
Persistent link: https://www.econbiz.de/10012815314
The unprecedented drop in international trade during the last quarter of 2008 and the first quarter of 2009 has mainly been analysed at the macroeconomic or sectoral level. However, exporters who are heterogeneous in terms of productivity, size or external financial dependence should be...
Persistent link: https://www.econbiz.de/10011605273
Global trade contracted quickly and severely during the global crisis. This paper, using a unique dataset of French firms, matching together export data with firm-level credit constraints, shows that most of the 2008-2009 trade collapse is accounted by the unprecedented demand shock and by...
Persistent link: https://www.econbiz.de/10011605291
Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality...
Persistent link: https://www.econbiz.de/10011345468
How do financial market conditions affect real economic performance? Empirical investigations of this question have often relied on measures of external financial dependence (EFD) that are constructed using US data and applied to other countries under the assumption of a stable industry ranking...
Persistent link: https://www.econbiz.de/10014497609
How do financial market conditions affect real economic performance? Empirical investigations of this question have often relied on measures of external financial dependence (EFD) that are constructed using U.S. data and applied to other countries under the assumption of a stable industry...
Persistent link: https://www.econbiz.de/10012428556
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10011689946