Do Sovereign Defaults Hurt Exporters?

被引：20

作者：

Borensztein, Eduardo ^{[1
]}

Panizza, Ugo ^{[2
]}

机构：

[1] Int Monetary Fund, Res Dept, Washington, DC 20431 USA

[2] UNCTAD, Geneva, Switzerland

来源：

OPEN ECONOMIES REVIEW | 2010年 / 21卷 / 03期

关键词：

Sovereign debt; Defaults; Exports; FINANCIAL DEPENDENCE; GROWTH; TRADE;

D O I：

10.1007/s11079-008-9096-2

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper uses a difference-in-difference methodology similar to the one originally proposed by Rajan and Zingales to test whether sovereign defaults hurt the more export-oriented industries disproportionately, and it finds strong support for this hypothesis. However, contrary to the findings of previous studies, our estimates suggest that the effect of defaults is short-lived.

引用

页码：393 / 412

页数：20

共 18 条

[1] How much should we trust differences-in-differences estimates? [J].

Bertrand, M ;

Duflo, E ;

Mullainathan, S .

QUARTERLY JOURNAL OF ECONOMICS, 2004, 119 (01) :249-275

[2]

Borensztein E., 2006, LIVING DEBT LIMIT RI

[3]

BORENSZTEIN E, 2008, 0830 IMF

[4]

BORENSZTEIN E, 2007, 0775 IMF

[5]

Calvo Guillermo A., 2003, MONETARY UNIONS HARD, P150

[6] Banking market structure, financial dependence and growth: International evidence from industry data [J].

Cetorelli, N ;

Gambera, M .

JOURNAL OF FINANCE, 2001, 56 (02) :617-648

[7]

Dell?Ariccia G., 2005, The real effect of banking crises

[8] Economic development as self-discovery [J].

Hausmann, R ;

Rodrik, D .

JOURNAL OF DEVELOPMENT ECONOMICS, 2003, 72 (02) :603-633

[9]

JAIMOVICH D, 2007, 599 IDB RES DEP

[10] Trade, production, and protection database, 1976-2004 [J].

Nicita, Alessandro ;

Olarreaga, Marcelo .

WORLD BANK ECONOMIC REVIEW, 2007, 21 (01) :165-171

← 1 2 →