Auteurs Centres de recherche Disciplines et Collections Projets
Français English
 
 

Time to ship during Financial Crisis

 

Notice

Type:   Working paper
 
Titre:   Time to ship during Financial Crisis
 
Auteur(s):   Berman, Nicolas - Centre d'économie de la Sorbonne (Auteur)
de Sousa, José - Université Panthéon-Sorbonne - Paris I (Auteur)
Mayer, Thierry (1971-...) - Département d'économie (Auteur)
Martin, Philippe (1966-...) - Département d'économie (Auteur)
 
Date de publication:   2013-09
 
Éditeur:   Département d'économie de Sciences Po
 
Collection:   Sciences Po Economics Discussion Papers  :  2013-14
 
Mots-clés:   [fr] Time-to-ship, Financial crises, international trade
 
JEL:   F10,  G32
 
Résumé:   [en] We show that the negative impact of financial crises on trade is magnified for destinations with longer time-to-ship. A simple model where exporters react to an increase in the probability of default of importers by increasing their export price and decreasing their export volumes to destinations in crisis is consistent with this empirical finding. For longer shipping time, those effects are indeed magnified as the probability of default increases as time passes. Some exporters also decide to stop exporting to the crisis destination, the more so the longer time-to-ship. Using aggregate data from 1950 to 2009, we found that this magnification effect is robust to alternative specifications, samples and inclusion of additional controls, including distance. The form level predictions are also broadly consistent with French exporter data from 1995 to 2005.
 
 

Fichiers

Version Format Fichier Taille
Version de l'éditeur 2013-14.pdf 0,41 MB