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The micro evolution of trade and turnover in Turkey under the global crisis

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  • Alessia LO TURCO

    (Universit… Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali)

  • Daniela MAGGIONI

    (Universit… Politecnica delle Marche, Dipartimento di Scienze Economiche e Sociali)

Abstract

We provide evidence on the effects of the recent financial and economic crisis on the Turkish manufacturing. We first decompose aggregate sales, exports and imports, dissecting the contribution of the extensive and intensive margins at the firmand firm-product level. Secondly, we investigate the determinants of both margins, inspecting the role of firm and product heterogeneity in the onset of the crisis, andwe support the demand shock explanation of the crisis. Our findings point at the prevalence of the intensive margin in the negative 2009 evolution of overall and exported sales. On the contrary, the drop in imports, which represents the most dramatic one, is importantly driven by the net exit of large and exporting firms and by the net dropping of products. More productive firms lead the slump in export sales and, among the products, capital and intermediate goods experience the sharpest demand decline. Also, importing favours exporting especially during the crisis. Finally, a stronger resilience emerges for exporters of own products compared to carry-along-trade exporters.

Suggested Citation

  • Alessia LO TURCO & Daniela MAGGIONI, 2012. "The micro evolution of trade and turnover in Turkey under the global crisis," Working Papers 376, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  • Handle: RePEc:anc:wpaper:376
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    Cited by:

    1. Tolga Cebeci & Ana M. Fernandes, 2015. "Microdynamics of Turkey's Export Boom in the 2000s," The World Economy, Wiley Blackwell, vol. 38(5), pages 825-855, May.
    2. Guan, Qing & An, Haizhong, 2017. "The exploration on the trade preferences of cooperation partners in four energy commodities’ international trade: Crude oil, coal, natural gas and photovoltaic," Applied Energy, Elsevier, vol. 203(C), pages 154-163.
    3. Saara Tamminen, 2017. "Regional effects or none? Firms' profitability during the Great Recession in Finland," Papers in Regional Science, Wiley Blackwell, vol. 96(1), pages 33-59, March.
    4. Ruggero Grilli & Gabriele Tedeschi & Mauro Gallegati, 2015. "Markets connectivity and financial contagion," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(2), pages 287-304, October.
    5. Eralba CELA & Tineke FOKKEMA & Elena AMBROSETTI, 2012. "Links Between Transnationalism Integration and Duration of Residence: The Case of eastern European Migrants in Italy," Working Papers 386, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    6. Maggioni, Daniela & Lo Turco, Alessia & Gallegati, Mauro, 2016. "Does product complexity matter for firms' output volatility?," Journal of Development Economics, Elsevier, vol. 121(C), pages 94-109.
    7. Daniela MAGGIONI & Alessia LO TURCO & Mauro GALLEGATI, 2014. "Does export complexity matter for firms' output volatility?," Working Papers 407, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    8. Alessia Lo Turco & Daniela Maggioni, 2015. "Imports, Exports and the Firm Product Scope: Evidence From Turkey," The World Economy, Wiley Blackwell, vol. 38(6), pages 984-1005, June.
    9. Roberto Álvarez & Camila Sáez, 2015. "Post-Crisis Financiera y Expansión de las Exportaciones: Micro-Evidencia para Chile," Working Papers Central Bank of Chile 748, Central Bank of Chile.

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    More about this item

    Keywords

    Turkey; crisis; exports; imports; turnover;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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