Trade openness and volatility /

This paper examines the mechanisms through which output volatility is related to trade openness using an industry-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to international trade are more volatile. Second, trade is accompanied...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Di Giovanni, Julian (Autor), Levchenko, Andrei A. (Autor)
Autor Corporativo: International Monetary Fund. Research Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : International Monetary Fund, Research Dept., 2008.
©2008
Colección:IMF working paper ; WP/08/146.
Temas:
International trade > Econometric models.
Financial crises > Econometric models.
Industrial productivity > Econometric models.
Commerce international > Modèles économétriques.
Productivité > Modèles économétriques.
Financial crises > Econometric models
Industrial productivity > Econometric models
International trade > Econometric models
Acceso en línea:Texto completo
Descripción
Sumario:This paper examines the mechanisms through which output volatility is related to trade openness using an industry-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to international trade are more volatile. Second, trade is accompanied by increased specialization. Third, sectors that are more open are less correlated with the rest of the economy. The point estimates indicate that each of the three effects has an appreciable impact on aggregate volatility. Added together they imply that the relationship between trade openness and overall volatility is positive and economically significant.
Descripción Física:1 online resource (60 pages) : illustrations.
Bibliografía:Includes bibliographical references (pages 57-60).

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