Can large trade shocks cause crises? The case of the Finnish–Soviet trade collapse

Autor:	Juha Kilponen, Markus Haavio, Adam Gulan
Rok vydání:	2021
Předmět:	Economics and Econometrics Keynesian economics 05 social sciences Small open economy Shock (economics) Depression (economics) 0502 economics and business Rare case Great Depression Economics medicine 050207 economics medicine.symptom Finance Collapse (medical) 050205 econometrics
Zdroj:	Journal of International Economics. 131:103480
ISSN:	0022-1996
Popis:	We study the macroeconomic consequences of a major trade disruption using the example of the Finnish–Soviet trade collapse in 1991. This is a rare case of a well–identified large trade shock in a developed economy. We find that the shock significantly affected Finnish output. Even so, the trade collapse was insufficient to generate an all–out crisis, and accounts for only a part of the Finnish Great Depression (1990–1993). We show that shocks originating domestically played a major role throughout the depression.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::0a607364662e83915ca51cd4c44f33fc https://doi.org/10.1016/j.jinteco.2021.103480 Zobrazit plný text záznamu Full Text from ScienceDirect