Firms and the global crisis: French exports in the turmoil

Jean-Charles Bricongne, L. Fontagn , Guillaume Gaulier, Daria Taglioni () and Vincent Vicard
Authors registered in the RePEc Author Service: Lionel Fontagné

Working papers from Banque de France

Abstract: The unprecedented drop in international trade during the last quarter of 2008 and the first quarter of 2009 has mostly been analysed at the macroeconomic or sectoral level. However, heterogeneous exporters in terms of productivity, size or external finance dependence should be hit differently by the crisis. This issue is examined here using data on monthly exports at the product and destination level for some 100,000 individual French exporters, up to 2009M4. We show that the drop in French exports is mainly due to the intensive margin of large exporters. Small and large firms are evenly affected when sectoral and geographical specialisations are controlled for. Lastly, firms (small and large) in sectors structurally more dependent on external finance are the most affected by the crisis.

Keywords: Financial crisis; international trade; firms heterogeneity; intensive and extensive margins. (search for similar items in EconPapers)
JEL-codes: F02 F10 G01 (search for similar items in EconPapers)
Pages: 60 pages
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (77)

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https://publications.banque-france.fr/sites/defaul ... g-paper_265_2009.pdf (application/pdf)

Related works:
Journal Article: Firms and the global crisis: French exports in the turmoil (2012)
Working Paper: Firms and the global crisis: French exports in the turmoil (2012)
Working Paper: Firms and the global crisis: French exports in the turmoil (2012)
Working Paper: Firms and the global crisis: French exports in the turmoil (2012)
Working Paper: Firms and the global crisis: French exports in the turmoil (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:banfra:265

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