Trade spillovers on output growth during the 2008 financial crisis
| Autor: | Fabien Rondeau, Jean-Sébastien Pentecôte |
|---|---|
| Přispěvatelé: | Centre de recherche en économie et management (CREM), Université de Caen Normandie (UNICAEN), Normandie Université (NU)-Normandie Université (NU)-Université de Rennes 1 (UR1), Université de Rennes (UNIV-RENNES)-Université de Rennes (UNIV-RENNES)-Centre National de la Recherche Scientifique (CNRS), Normandie Université (NU)-Normandie Université (NU)-Université de Rennes (UR)-Centre National de la Recherche Scientifique (CNRS) |
| Jazyk: | angličtina |
| Rok vydání: | 2015 |
| Předmět: |
JEL: G - Financial Economics/G.G0 - General/G.G0.G01 - Financial Crises
JEL: F - International Economics/F.F1 - Trade/F.F1.F14 - Empirical Studies of Trade Global Financial Crisis 1. No poverty Domestic activity Developing country Context (language use) Crash Sample (statistics) International economics Output Loss [SHS.ECO]Humanities and Social Sciences/Economics and Finance General Business Management and Accounting Trade Spillovers JEL: F - International Economics/F.F1 - Trade/F.F1.F15 - Economic Integration Demand shock Order (exchange) 8. Economic growth Financial crisis Economics General Economics Econometrics and Finance Impulse Response Functions |
| Zdroj: | International Economics International Economics, Elsevier, 2015, 143, pp.36-47. ⟨10.1016/j.inteco.2015.04.003⟩ International Economics, 2015, 143, pp.36-47. ⟨10.1016/j.inteco.2015.04.003⟩ |
| ISSN: | 2110-7017 2542-6869 |
| Popis: | International audience; This paper gives an empirical assessment of the extent to which a financial crash in a country can slowdown the domestic economic growth and how these effects can spread through trade relationships. First, we modify the Cerra and Saxena's (2008) methodology in order to understand the interplay between economic activity and foreign trade during the 2008 financial crisis. Our sample is made of monthly data for 26 countries over 1993-2013. We then simulate the dynamic responses of domestic activity to a demand shock and to a financial crisis. Trade contributes to growth in the context of a demand shock (from 63% for developing countries to 433% for NAFTA) whereas it dampens output loss in the context of the 2008 financial crisis (from-38% for developing countries to-127% for NAFTA). |
| Databáze: | OpenAIRE |
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