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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/110009

    Title: The trade effects of counter-cyclical fiscal policies
    Authors: Ho-Chuan Huang;Pei-Chien lin
    Keywords: Fiscal policy;Counter-cyclicality;External finance;Industrial exports
    Date: 2016-09
    Issue Date: 2017-03-17 02:10:42 (UTC+8)
    Publisher: Elsevier BV
    Abstract: This article assesses the causal effect of a counter-cyclical fiscal policy on industrial exports. By utilizing Rajan and Zingales's (1998) difference-in-difference methodology on a large panel of cross-country, cross-industry data over the period 1989–2004, we show that industries with higher dependence on external finance tend to export more in countries that implement fiscal policies that are more counter-cyclical. More specifically, the results of the OLS (IV) estimation indicate that there exists a difference in the gains in terms of the export share lying in a range from 9.8% to 13.5% (25.7% to 39.3%) between the industry at the 75th percentile and the 25th percentile of external finance in a country with a degree of fiscal counter-cyclicality at the 75th percentile compared with a country at the 25th percentile. Moreover, the key finding survives a variety of robustness checks.
    Relation: International Review of Economics and Finance 45, p.82-95
    DOI: 10.1016/j.iref.2016.05.002
    Appears in Collections:[Graduate Institute & Department of Industrial Economics] Journal Article

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