Showing 1 - 10 of 163
This paper studies business cycle interdependence among the industrialized countries since 1958. Using the spillover index methodology recently proposed by Diebold and Yilmaz (2009) and based on the generalized VAR framework, I develop an alternative measure of comovement of macroeconomic...
Persistent link: https://www.econbiz.de/10011083760
level of income and export intensity. Specifically, the paper investigates theoretically and empirically how financial … constraints affect a firm's innovation and export activities. Theoretical predictions are tested using unique firm survey data … constraints strongly adversely affect the ability of domestically owned firms to innovate and to export and hence to catch up to …
Persistent link: https://www.econbiz.de/10008468676
This paper models the causes of the 2008 financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. Our analysis is conducted on a cross-section of 85 countries; we focus on international linkages that may have allowed the crisis to spread across...
Persistent link: https://www.econbiz.de/10008528523
In this paper we analyse the relationship between gravity variables and f.o.b. export unit values using Hungarian firm …-product-destination data. By taking firm-product level selection into account we show that export unit values increase with distance even for … relationship between unit values and market size. We propose two possible explanations: first, firms may export different quality …
Persistent link: https://www.econbiz.de/10008530371
adopt a model of firm heterogeneity and export participation which we estimate to match moments of the French data using the …
Persistent link: https://www.econbiz.de/10005124187
information spillovers across markets on the export patterns of four developing countries (Egypt, Korea, Malaysia and Tunisia). A …
Persistent link: https://www.econbiz.de/10005497848
In this paper we ask why the gravity model of international trade also work well for foreign direct investment (FDI) flows or multinational production (MP). We propose a model of trade and horizontal FDI, where the subsidiary is allowed to source inputs from the headquarters. Under certain...
Persistent link: https://www.econbiz.de/10005114237
Internationally active firms rely intensively on trade credits even though they are considered particularly expensive. This phenomenon has been little explored so far. Our theoretical analysis shows that trade credits can alleviate financial constraints arising from asymmetric information...
Persistent link: https://www.econbiz.de/10011083260
We analyze the joint dynamics of religious beliefs, scientific progress and coalitional politics along both religious and economic lines. History offers many examples of the recurring tensions between science and organized religion, but as part of the paper’s motivating evidence we also...
Persistent link: https://www.econbiz.de/10011262883
To what extent has Sub-Saharan Africa’s slow economic growth over the past five decades been due to price and trade policies that have discouraged production of agricultural relative to non-agricultural tradables? This paper uses a new set of estimates of policy distortions to relative prices...
Persistent link: https://www.econbiz.de/10009246604