Two recent trends in international economics have been an increased focus on the geography of trade (e.g. what factors determine where a country exports) and the emergence of new theoretical and ...empirical work examining exporting activity at the firm-level. However, data limitations have prevented much progress in combining these two areas, because very few countries provide firm-level data breaking down firm exports by their destination. This paper uses a unique survey of Irish exporting firms with information on over fifty destinations for a five-year period to fill some of the gaps in this empirical literature. In particular we investigate how well the predications of a model of exporting with firm heterogeneity fits with the patterns of this detailed data source. Amongst our findings are that firm productivity differences are a factor in explaining the number of export markets a firm has but the prediction of a hierarchy of markets could only be weakly upheld by the data. Firm involvement in individual export markets is found to be much more dynamic than export status. Entry and exit to markets is shown to be a quantifiably important component of overall export flows, with this factor becoming more important for less popular markets. The paper also shows how the patterns of entry and exit into export markets combine to determine the overall firm-level distribution of number of markets entered.
We instrument export prices with firm level electricity cost shocks and estimate three international price elasticities using firm-level export data: the elasticity of firm exports to export price, ...tariff and real exchange rate shocks. In standard models these three elasticities should be equal. We find that this is far from being the case. The export price elasticity is the highest, around 5, much larger than the exchange rate elasticity. The international elasticity puzzle is therefore worse than previously thought. We also show that exporters absorb one third of tariff changes in their export prices. Because we take into account this reaction of export prices to tariffs, our estimate of the tariff elasticity corrects from this omitted-variable bias.
Using a large dataset for 79 countries covering the period 1962–2000, this study analyses the main determinants of export diversification (concentration). We explore the role of several factors and ...we use three different indicators of export concentration. We find robust evidence across specifications and indicators that trade openness induces higher specialisation. In contrast, financial development does not seem to help countries to diversify their exports. Looking at the effects of exchange rates, in some of the results, a negative effect of real exchange rate volatility on export diversification is detected, but no significant effects of exchange rate overvaluation. There is also evidence that human capital accumulation contributes positively to diversify exports and that increasing remoteness tends to reduce export diversification. We also explore the role of terms of trade shocks. Most of the results suggest an interesting interaction between this variable and human capital: improvements in the terms of trade tend to concentrate exports, but this effect is lower for those countries with higher levels of human capital. This evidence suggests that countries with higher education can take advantage of positive terms of trade shocks to increase export diversification.
Stormwater green infrastructure (SGI), including rain gardens, detention ponds, bioswales, and green roofs, is being implemented in cities across the globe to reduce flooding, combined sewer ...overflows, and pollutant transport to streams and rivers. Despite the increasing use of urban SGI, few studies have quantified the cumulative effects of multiple SGI projects on hydrology and water quality at the watershed scale. To assess the effects of SGI, Washington, DC, Montgomery County, MD, and Baltimore County, MD, were selected based on the availability of data on SGI, water quality, and stream flow. The cumulative impact of SGI was evaluated over space and time by comparing watersheds with and without SGI, and by assessing how long-term changes in SGI impact hydrologic and water quality metrics over time. Most Mid-Atlantic municipalities have a goal of achieving 10–20% of the landscape drain runoff through SGI by 2030. Of these areas, Washington, DC currently has the greatest amount of SGI (12.7% of the landscape drained through SGI), while Baltimore County has the lowest (7.9%). When controlling for watersheds size and percent impervious surface cover, watersheds with greater amounts of SGI have less flashy hydrology, with 44% lower peak runoff, 26% less frequent runoff events, and 26% less variable runoff. Watersheds with more SGI also show 44% less NO3− and 48% less total nitrogen exports compared to watersheds with minimal SGI. There was no significant reduction in phosphorus exports or combined sewer overflows in watersheds with greater SGI. When comparing individual watersheds over time, increases in SGI corresponded to non-significant reductions in hydrologic flashiness compared to watersheds with no change in SGI. While the implementation of SGI is somewhat in its infancy in some regions, cities are beginning to have a scale of SGI where there are statistically significant differences in hydrologic patterns and water quality.
Impact of stormwater green infrastructure (SGI) on hydrology and nitrogen export. The % values represent the percent change between low and high SGI. Display omitted
•Cumulative impacts of multiple stormwater green infrastructure systems•Statistical analyses on SGI, hydrologic, and water quality data were conducted.•Hydrologic flashiness is lower in watersheds with stormwater green infrastructure.•Stream nitrogen loads are lower in watersheds with stormwater green infrastructure.
This paper investigates the impact of US Export‐Import Bank (EXIM) on US exports particularly in the wake of international competition from foreign national export credit agencies (ECAs). We employ a ...gravity framework on a country‐industry‐year‐level panel data set that matches EXIM authorisations with US bilateral exports. Our results depict the general ineffectiveness of the Bank in promoting exports within and across industries. Some heterogeneities behind the general finding are also uncovered: industries other than aerospace parts and products are more likely to benefit from EXIM authorisations, and EXIM authorisations to larger businesses seem to be more effective in encouraging exports. Furthermore, we find no evidence that EXIM encourages US exports by offsetting foreign ECA competition. These results are neither affected by competing countries’ membership to the OECD Arrangement nor by the size of American firms that received EXIM support. Our results cast doubt on the ubiquitously positive claims made by the Bank and its supporters, yet also provide policy lessons for countries that are either in the inception stages of establishing their own ECAs or are now placing greater importance on ECA financing in encouraging exports.
This study examines the role of global value chain (GVC) participation in high technology exports using data over 120 countries during the 1995–2019 period. Our results suggest that GVC participation ...matters for high‐tech exports. While GVC participation with higher income countries is significantly associated with high‐tech exports, GVC participation with lower income countries has no effect. However, regardless of the origin countries, high‐tech GVC participation raises high‐tech exports. Moreover, GVC participation has a positive impact on high‐tech exports to lower income countries. Finally, we present evidence that the determinants of high‐tech exports vary by the income level of destination countries.
This article makes four contributions. First, it investigates the extent to which the U.S. fracking boom has caused Arab oil exports to decline since late 2008. Second, the article quantifies for the ...first time by how much the U.S. fracking boom has lowered the global price of oil. Using a novel econometric methodology, it is shown that in mid-2014, for example, the Brent price of crude oil was lower by $10 than it would have been in the absence of the fracking boom. Third, the article provides evidence that the decline in Saudi net foreign assets between mid-2014 and August 2015 would have been reduced by 27% in the absence of the fracking boom. Finally, the article discusses the policy choices faced by Saudi Arabia and other Arab oil producers.
This study analyzes variables associated with export venture performance of U.S. forest products to comparative markets in order to develop private sector development policy recommendations. Data ...from small and medium forest enterprises (SMFEs) that export hardwoods to Mexico, Europe, and Asia were investigated to determine characteristics that influence export performance to these markets. Internal and external factors including, export distribution methods, relationship with export distribution partners, management strategies, transportation, and export assistance were analyzed. Despite extensive research on the determinants of export performance, limited studies have applied this approach to the exportation of forest products. This study adds to this research by examining proper method selection, logistical considerations, and the relationship with distribution partners as they are linked to sales growth in comparative markets. A public policy implication from this research is that structural and agency transportation factors deserve more export assistance attention.
The paper analyses the link between financial constraints and firm export behaviour. Our main finding is that firms enjoying better financial health are more likely to become exporters. The result ...contrasts with the previous empirical literature which found evidence that export participation improves firm financial health, but not that export starters display any ex ante financial advantage. On the contrary, we find that financial constraints act as a barrier to export participation. Better access to external financial resources increases the probability to start exporting and also shortens the time before firms decide to serve foreign customers. This finding has important policy implications as it suggests that, in the presence of financial market imperfections, public intervention can be called for to help efficient but financially constrained firms to overcome the sunk entry costs into export markets and expand their activities abroad.
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