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Crisis-proof services: Why trade in services did not suffer during the 2008–2009 collapse

Ariu, Andrea

Journal of international economics, 2016-01, Vol.98, p.138-149 [Periódico revisado por pares]

Amsterdam: Elsevier B.V

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  • Título:
    Crisis-proof services: Why trade in services did not suffer during the 2008–2009 collapse
  • Autor: Ariu, Andrea
  • Assuntos: Belgium ; Economic crisis ; Elasticity ; Exports ; GDP ; Gross Domestic Product ; Growth models ; Service industries ; Service industry ; Service resilience ; Studies ; Trade collapse ; Trade in services and goods
  • É parte de: Journal of international economics, 2016-01, Vol.98, p.138-149
  • Notas: ObjectType-Article-1
    SourceType-Scholarly Journals-1
    ObjectType-Feature-2
    content type line 23
  • Descrição: During the 2008–2009 crisis, trade in goods fell by almost 30%. In contrast, trade in business, telecommunication and financial services continued growing at their pre-crisis rates and only services related to transport declined. Using trade data at the firm-product-destination level for Belgium, I show that during the crisis the elasticity of services exports with respect to GDP growth in destination countries was significantly different from that of goods exports. In particular, the negative income shock in partner countries affected exports of goods but not exports of services. This difference is economically sizable: if goods exports had had the same elasticity to GDP growth as services exports, their fall during the 2008–2009 collapse would have been only half what was observed. •Trade in services did not collapse during the 2008‐2009 Crisis•Business, financial and telecommunication services continued growing during the crisis•The elasticity with respect to GDP was significantly different for goods and services exports•Trade in goods collapse would have been only half what was observed
  • Editor: Amsterdam: Elsevier B.V
  • Idioma: Inglês

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