Volatility and diversification of exports: Firm-level theory and evidence

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dc.cclicenceCC-BY-NCen
dc.contributor.authorVannoorenberghe, Gonzagueen
dc.contributor.authorWang, Zhengen
dc.contributor.authorYu, Zhihongen
dc.date.acceptance2016-07-07en
dc.date.accessioned2016-10-27T09:02:15Z
dc.date.available2016-10-27T09:02:15Z
dc.date.issued2016-07-25
dc.descriptionOriginal Open Access Repository: https://hydra.hull.ac.uk/resources/hull:13520en
dc.description.abstractWe show using detailed firm-level Chinese data that, among small exporters, firms selling to a more diversified set of countries have more volatile exports, while the opposite holds among large exporters. This a priori surprising result for small firms is robust to a wide array of specifications and controls. Our theoretical explanation for these observations rests on the presence of fixed costs of exports per destination and short-run demand shocks. In this setup, the volatility of a firm's exports depends not only on the diversification of its destination portfolio but also on whether it exports permanently to all markets. Among small exporters, a more diversified pool of destinations makes the firm more likely to export occasionally to some markets, thereby raising export volatility.en
dc.exception.reasonFull text version at previous institutions repositoryen
dc.exception.ref2021codes254aen
dc.funderN/Aen
dc.identifier.citationVannoorenberghe, G., Wang, Z and Yu, Z. (2016) Volatility and diversification of exports: Firm-level theory and evidence. European Economic Review, 89, pp. 216-247en
dc.identifier.doihttps://doi.org/10.1016/j.euroecorev.2016.07.002
dc.identifier.urihttp://hdl.handle.net/2086/12736
dc.language.isoenen
dc.peerreviewedYesen
dc.projectidN/Aen
dc.publisherElsevieren
dc.researchinstituteInstitute for Applied Economics and Social Value (IAESV)en
dc.subjectVolatilityen
dc.subjectDiversificationen
dc.subjectExportsen
dc.titleVolatility and diversification of exports: Firm-level theory and evidenceen
dc.typeArticleen

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