Worth the pain? Firms' exporting behaviour to countries under sanctions

Crozet M, Hinz J, Stammann A, Wanner J (2021)
European Economic Review 134: 103683.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Autor*in
Crozet, Matthieu; Hinz, JulianUniBi; Stammann, Amrei; Wanner, Joschka
Abstract / Bemerkung
How do exporting firms react to sanctions? Specifically, which firms are willing - or capable - to serve the market of a sanctioned country? We investigate this question for four sanctions episodes using monthly data on the universe of French exporting firms. We draw on recent econometric advances in the estimation of dynamic fixed effects binary choice models. We find that the introduction of new sanctions in Iran and Russia significantly lowered firm-level probabilities of serving these sanctioned markets, while the (temporary) lifting of the U.S. sanctions on Cuba and the removal of sanctions against Myanmar had no or only small trade-inducing effects, respectively. Additionally, the impact of sanctions is very heterogeneous along firm dimensions and by case particularities. Firms that depend more on trade finance instruments are more strongly affected, while prior experience in the sanctioned country considerably softens the blow of sanctions, and firms can be partly immune to the sanctions effect if they are specialized in serving "crisis countries". Finally, we find suggestive evidence for sanctions avoidance by exporting indirectly via neighboring countries. (c) 2021 Elsevier B.V. All rights reserved.
Stichworte
Sanctions; Trade; Foreign policy; Extensive margin; Firm behaviour
Erscheinungsjahr
2021
Zeitschriftentitel
European Economic Review
Band
134
Art.-Nr.
103683
ISSN
0014-2921
eISSN
1873-572X
Page URI
https://pub.uni-bielefeld.de/record/2955108

Zitieren

Crozet M, Hinz J, Stammann A, Wanner J. Worth the pain? Firms' exporting behaviour to countries under sanctions. European Economic Review. 2021;134: 103683.
Crozet, M., Hinz, J., Stammann, A., & Wanner, J. (2021). Worth the pain? Firms' exporting behaviour to countries under sanctions. European Economic Review, 134, 103683. https://doi.org/10.1016/j.euroecorev.2021.103683
Crozet, M., Hinz, J., Stammann, A., and Wanner, J. (2021). Worth the pain? Firms' exporting behaviour to countries under sanctions. European Economic Review 134:103683.
Crozet, M., et al., 2021. Worth the pain? Firms' exporting behaviour to countries under sanctions. European Economic Review, 134: 103683.
M. Crozet, et al., “Worth the pain? Firms' exporting behaviour to countries under sanctions”, European Economic Review, vol. 134, 2021, : 103683.
Crozet, M., Hinz, J., Stammann, A., Wanner, J.: Worth the pain? Firms' exporting behaviour to countries under sanctions. European Economic Review. 134, : 103683 (2021).
Crozet, Matthieu, Hinz, Julian, Stammann, Amrei, and Wanner, Joschka. “Worth the pain? Firms' exporting behaviour to countries under sanctions”. European Economic Review 134 (2021): 103683.

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