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The Role of Credit, Currency and Debt Crises in Trade Performance: A Product‐Disaggregated Panel Data Analysis
Author(s) -
Prasada D. V. Pahan
Publication year - 2015
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/jid.2923
Subject(s) - currency , economics , depreciation (economics) , diversification (marketing strategy) , monetary economics , debt , panel data , financial crisis , shock (circulatory) , international economics , macroeconomics , business , medicine , capital formation , marketing , financial capital , econometrics , economic growth , human capital
Abstract The impacts of financial crisis shocks on trade performance are investigated for a sample of Asian countries that experienced financial crises during the 1980–2006 period. Credit, currency appreciation, currency depreciation and external debt shocks are considered. The focus is to look beyond aggregates into sub‐sector level exports using disaggregated data for 27 industries. We look at how the shocks affect bilateral exports in general and fluctuation of exports in terms of creation and diversion in particular. Further, the impact of each crisis shock on the level of competitiveness and the degree of diversification of exports is assessed. Copyright © 2013 John Wiley & Sons, Ltd.