IDEAS home Printed from https://ideas.repec.org/p/bca/bocadp/15-3.html
   My bibliography  Save this paper

Sluggish Exports in Advanced Economies: How Much Is Due to Demand?

Author

Listed:
  • Louis Morel

Abstract

Exports in advanced economies have been relatively sluggish since 2011, growing at a much slower pace than observed before the global financial crisis. In this paper, export-demand equations for a panel of 18 countries in the Organisation for Economic Co-operation and Development (OECD) are estimated in order to assess whether this sluggishness can be attributed to weak foreign demand. Over half of the slowdown in advanced-economy export growth since 2011 (relative to the pre-crisis trend) can be explained by weak global demand growth. More specifically, exports in advanced economies have been restrained by the weakness of global investment, a trade-intensive demand component and weak demand out of Europe, a region that accounts for about 40 per cent of the demand for advanced-economy exports. Weak foreign demand cannot explain all of the weakness in aggregate OECD exports since 2011, suggesting that other factors have also played a role.

Suggested Citation

  • Louis Morel, 2015. "Sluggish Exports in Advanced Economies: How Much Is Due to Demand?," Discussion Papers 15-3, Bank of Canada.
  • Handle: RePEc:bca:bocadp:15-3
    as

    Download full text from publisher

    File URL: https://www.bankofcanada.ca/wp-content/uploads/2015/03/dp-2015-3.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Matthieu Bussière & Giovanni Callegari & Fabio Ghironi & Giulia Sestieri & Norihiko Yamano, 2013. "Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-2009," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(3), pages 118-151, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aqib Aslam & Emine Boz & Eugenio Cerutti & Marcos Poplawski-Ribeiro & Petia Topalova, 2018. "The Slowdown in Global Trade: A Symptom of a Weak Recovery?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 66(3), pages 440-479, September.
    2. repec:spr:jecfin:v:43:y:2019:i:1:d:10.1007_s12197-018-9442-1 is not listed on IDEAS

    More about this item

    Keywords

    International topics; Recent economic and financial developments;

    JEL classification:

    • F1 - International Economics - - Trade
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bca:bocadp:15-3. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/bocgvca.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.