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The Collapse Speed of China's Exports in the 2008-2009 Financial Crisis

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  • Ran Jing
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    Abstract

    This paper studies the performance of China’s exports during the 2008—2009 financial crisis. It focuses on the speed at which China’s exports were hit by this downturn. Product-country monthly exports data is utilized. It is found that GDP growth rates of importing countries play an important role in explaining how fast exports fall below the values of the same months in the previous year. Exports of capital and intermediate goods show the signs of collapse later than consumption goods; exports of differentiated goods contract sooner than homogeneous ones. Last, products with high shares of processing trade prior to the crisis are hit by the recession earlier than other products.

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    File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2011/wp-cesifo-2011-09/cesifo1_wp3584.pdf
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    Bibliographic Info

    Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 3584.

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    Date of creation: 2011
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    Handle: RePEc:ces:ceswps:_3584

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    Related research

    Keywords: China; exports collapse; speed; duration analysis;

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    1. Chor, Davin & Manova, Kalina, 2012. "Off the cliff and back? Credit conditions and international trade during the global financial crisis," Journal of International Economics, Elsevier, vol. 87(1), pages 117-133.
    2. Kristian Behrens & Gregory Corcos & Giordano Mion, 2011. "Trade Crisis ? What Trade Crisis ?," Cahiers de recherche 1117, CIRPEE.
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    8. Bricongne, J-C. & Fontagné, L. & Gaulier, G. & Taglioni, D. & Vicard, V., 2009. "Firms and the global crisis: French exports in the turmoil," Working papers 265, Banque de France.
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    12. Andrew B. Bernard & J. Bradford Jensen & Stephen J. Redding & Peter K. Schott, 2009. "The Margins of US Trade," American Economic Review, American Economic Association, vol. 99(2), pages 487-93, May.
    13. Mario Cleves & William W. Gould & Roberto G. Gutierrez & Yulia Marchenko, 2010. "An Introduction to Survival Analysis Using Stata," Stata Press books, StataCorp LP, edition 3, number saus3, March.
    14. Haddad, Mona & Harrison, Ann & Hausman, Catherine, 2011. "Decomposing the great trade collapse : products, prices, and quantities in the 2008-2009 crisis," Policy Research Working Paper Series 5749, The World Bank.
    15. Robert C. Feenstra & Zhiyuan Li & Miaojie Yu, 2011. "Exports and Credit Constraints Under Incomplete Information: Theory and Evidence from China," NBER Working Papers 16940, National Bureau of Economic Research, Inc.
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