How do firms respond to demand shocks? Evidence from the European sovereign debt crisis
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/143360 |
Resumo: | We examine how firms respond to domestic demand shocks using the large and unanticipated shock to government spending in European periphery countries during the 2010-2011 sovereign debt crisis. We find that firms with higher ex-ante exposure to government procurement contracts significantly increase their exports after the shock or exit. Older and larger firms are better able to substitute domestic sales with entry into export markets than younger and smaller firms. Firms with high-skill workers, high productivity and more educated managers are also more likely to start exporting. Our results suggest that mature and high-quality firms drive the response of tradable industries to domestic demand shocks. |
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How do firms respond to demand shocks? Evidence from the European sovereign debt crisisWe examine how firms respond to domestic demand shocks using the large and unanticipated shock to government spending in European periphery countries during the 2010-2011 sovereign debt crisis. We find that firms with higher ex-ante exposure to government procurement contracts significantly increase their exports after the shock or exit. Older and larger firms are better able to substitute domestic sales with entry into export markets than younger and smaller firms. Firms with high-skill workers, high productivity and more educated managers are also more likely to start exporting. Our results suggest that mature and high-quality firms drive the response of tradable industries to domestic demand shocks.Nova School of Business and EconomicsRUNAdelino, ManuelFagandini, PauloFerreira, Miguel A.Queiró, Francisco2022-08-30T16:37:20Z2020-03-142020-03-14T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/143360engAdelino, Manuel, Fagandini, Paulo, Ferreira, Miguel A., Queiró, Francisco. How do firms respond to demand shocks? Evidence from the European sovereign debt crisis. (March 2021) Nova SBE Working Paper Series No. 646info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:21:40Zoai:run.unl.pt:10362/143360Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:50:54.140841Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis |
title |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis |
spellingShingle |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis Adelino, Manuel |
title_short |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis |
title_full |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis |
title_fullStr |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis |
title_full_unstemmed |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis |
title_sort |
How do firms respond to demand shocks? Evidence from the European sovereign debt crisis |
author |
Adelino, Manuel |
author_facet |
Adelino, Manuel Fagandini, Paulo Ferreira, Miguel A. Queiró, Francisco |
author_role |
author |
author2 |
Fagandini, Paulo Ferreira, Miguel A. Queiró, Francisco |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
RUN |
dc.contributor.author.fl_str_mv |
Adelino, Manuel Fagandini, Paulo Ferreira, Miguel A. Queiró, Francisco |
description |
We examine how firms respond to domestic demand shocks using the large and unanticipated shock to government spending in European periphery countries during the 2010-2011 sovereign debt crisis. We find that firms with higher ex-ante exposure to government procurement contracts significantly increase their exports after the shock or exit. Older and larger firms are better able to substitute domestic sales with entry into export markets than younger and smaller firms. Firms with high-skill workers, high productivity and more educated managers are also more likely to start exporting. Our results suggest that mature and high-quality firms drive the response of tradable industries to domestic demand shocks. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-03-14 2020-03-14T00:00:00Z 2022-08-30T16:37:20Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/143360 |
url |
http://hdl.handle.net/10362/143360 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Adelino, Manuel, Fagandini, Paulo, Ferreira, Miguel A., Queiró, Francisco. How do firms respond to demand shocks? Evidence from the European sovereign debt crisis. (March 2021) Nova SBE Working Paper Series No. 646 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Nova School of Business and Economics |
publisher.none.fl_str_mv |
Nova School of Business and Economics |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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