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Crisis, Financial Costs, and Export Margins: Evidence from China
https://agi.repo.nii.ac.jp/records/242
https://agi.repo.nii.ac.jp/records/242a8de84bd-34b3-4e2a-9623-eddd65b56d17
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
report2017-04 (2.2 MB)
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| Item type | 報告書 / Research Paper(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2023-01-27 | |||||
| タイトル | ||||||
| タイトル | Crisis, Financial Costs, and Export Margins: Evidence from China | |||||
| 言語 | en | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18ws | |||||
| 資源タイプ | research report | |||||
| 研究代表者 |
孫, 曉男
× 孫, 曉男× Chen, Bo× Jing, Ran× Hong, Junjie |
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| 報告年度 | ||||||
| 日付 | 2018-03 | |||||
| 日付タイプ | Issued | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This research project is designed to examine the effects of demand shock on margins of trade. The 2008ñ2009 economic crisis hits Chinaí s exports severely. However, during this downturn, the extensive margins of exports from China increased. That is, the number of firms participating in the export market rises after the crisis. This observation is in sharp contrast with results found in the existing literature based on the United States market reactions. In order to explain this phenomenon, we extend the M elitz (2003) model by allowing exporting firms to depend on external finance to cover their costs. The model shows that the exporting revenue of each firm (i.e. intensive margin) and the number of exporting firms (i.e. extensive margin) are both negatively affected by the weak foreign demand and benefit from the counter-measures taken by exporting countries, such as quantity easing policy. However, the extensive margin is more sensitive to the change on interest rates than the intensive margin. In other words, the model predicts a decrease in the intensive margin and an increase in the extensive margin at the same time when changes in demand and interest rates fall in a well-behaved interval. Our empirical results from Chinaís firm-level data have provided good evidence for the predictions. This is a joint research project with Bo Chen, Ran Jing and Junjie Hong. | |||||
| 言語 | en | |||||
| 著者版フラグ | ||||||
| 出版タイプ | NA | |||||
| 出版タイプResource | http://purl.org/coar/version/c_be7fb7dd8ff6fe43 | |||||
