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Exporting and Firm Performance: Chinese Exporters and the Asian Financial Crisis

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Author Info
Albert Park
Dean Yang
Xinzheng Shi
Yuan Jiang

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Abstract

We ask how export demand shocks associated with the Asian financial crisis affected Chinese exporters. We construct firm-specific exchange rate shocks based on the pre-crisis destinations of firms' exports. Because the shocks were unanticipated and large, they are a plausible instrument for identifying the impact of exporting on firm productivity and other outcomes. We find that firms whose export destinations experience greater currency depreciation have slower export growth, and that export growth leads to increases firm productivity and other firm performance measures. Consistent with "earning-by-exporting", the productivity impact of export growth is greater when firms export to more developed countries.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14632.

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Date of creation: Jan 2009
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Handle: RePEc:nbr:nberwo:14632

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Find related papers by JEL classification:
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
F10 - International Economics - - Trade - - - General
F31 - International Economics - - International Finance - - - Foreign Exchange
L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Naude, Wim, 2009. ".Rushing in where Angels Fear to Tread?.: The Early Internationalization of Indigenous Chinese Firms," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
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  2. Alla Lileeva & Daniel Trefler, 2007. "Improved Access to Foreign Markets Raises Plant-Level Productivity ... for Some Plants," NBER Working Papers 13297, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Sai Ding & John Knight, 2008. "Why has China Grown So Fast? The Role of Structural Change," Economics Series Working Papers 415, University of Oxford, Department of Economics. [Downloadable!]
  4. Naude, Wim & Rossouw, Stephanie, 2009. "Early International Entrepreneurship in China: Extent and Determinants," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
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