Premium
Survie de l'entreprise, performance, et taux de change .
Author(s) -
Baggs Jen,
Beaulieu Eugene,
Fung Loretta
Publication year - 2009
Publication title -
canadian journal of economics/revue canadienne d'économique
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.773
H-Index - 69
eISSN - 1540-5982
pISSN - 0008-4085
DOI - 10.1111/j.1540-5982.2009.01513.x
Subject(s) - liberian dollar , exploit , exchange rate , tariff , survival of the fittest , business , monetary economics , economics , demographic economics , international economics , finance , biology , computer security , evolutionary biology , computer science
This paper examines the impact of exchange rate movements on firm survival and sales. We exploit detailed Canadian firm‐level data from 1986 to 1997, a period in which the Canadian dollar appreciated approximately 30% in the first six years and depreciated 30% in the later six years. We find that survival and sales are negatively associated with appreciations in the Canadian dollar. The impact on survival is less pronounced for more productive firms. The magnitude of the impact of exchange rate changes on firm survival and sales was comparable to the effect of CUSFTA‐mandated tariff changes.