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Did export promotion help firms weather the crisis? National Bank of Belgium Working Paper No. 291

Van Biesebroeck, Johannes and Konings, Jozef and Volpe Martincus, Christian (2016) Did export promotion help firms weather the crisis? National Bank of Belgium Working Paper No. 291. [Working Paper]

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    In the global recession of 2009, exports declined precipitously in many countries. We illustrate with firm-level data for Belgium and Peru that the decline was very sudden and almost entirely due to lower export sales by existing exporters. After the recession, exports rebounded almost equally quickly and we evaluate whether export promotion programs were an effective tool aiding this recovery. We show that firms taking advantage of this type of support did better during the crisis, controlling flexibly for systematic differences between supported and control firms. The primary mechanism we identify is that supported firms are generally more likely to survive on the export market and, in particular, are more likely to continue exporting to countries hit by the financial crisis.

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    Item Type: Working Paper
    Uncontrolled Keywords: trade promotion, trade policy, Great Recession, business cycles
    Subjects for non-EU documents: Countries > Belgium
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    EU policies and themes > External relations > international trade
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > National Bank of Belgium (Brussels) > Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 29 Nov 2019 15:51
    Number of Pages: 53
    Last Modified: 29 Nov 2019 15:51

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