Impact of Covid-19 containment measures on trade
Identifiers
Permanent link (URI): http://hdl.handle.net/10017/59440DOI: 10.1016/j.iref.2022.02.051
ISSN: 1059-0560
Date
2022Affiliation
Universidad de Alcalá. Departamento de EconomíaBibliographic citation
International Review of Economics and Finance, 2022, v. 80, p. 766-778
Keywords
Covid-19
Containment measures
Firm-level trade
Spain
Consumption goods
Global value chains
Document type
info:eu-repo/semantics/article
Version
info:eu-repo/semantics/publishedVersion
Rights
Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Access rights
info:eu-repo/semantics/openAccess
Abstract
Combining Spanish firm-level monthly trade data with country-level Covid-19 containment measures over February?July 2020, we show that the value of exports decreased more in destinations that introduced strict containment measures, whereas the value of imports remained unaffected. Strict containment measures in a partner country increased the probability of a firm ceasing to trade with it. Negative effects were concentrated between March and May 2020. The detrimental effect of containment on exports was larger in destinations where the share of jobs that could be done remotely was low, for goods consumed outside the household, for wholesalers and retailers, and for manufacturers not participating in global value chains.
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impact_lucio_IREF_2022.pdf | 865.8Kb |
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impact_lucio_IREF_2022.pdf | 865.8Kb |
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