Vertical Integration and Supplier Finance 23rd November 2017 KCG Secretary KCG Journal Articles Publications Authors: Holger Görg and Ersamus Kersting (Canadian Journal of Economics, 2017, Vol. 50(1), 273-305) This paper studies access to finance by suppliers that are linked to a multinational enterprise. The theoretical framework consists of a property rights model featuring suppliers that are either vertically integrated or sell to the multinational […]
Foreign Ownership and the Export and Import Propensities of Developing-Country Firms 23rd November 2017 KCG Secretary KCG Journal Articles Publications Authors: Dominik Boddin, Horst Raff, Natalia Trofimenko (The World Economy, 2017, Vol. 40(12), 2543-2563) This paper uses micro-data from the World Bank Enterprise Surveys 2002–06 to investigate how foreign ownership affects the likelihood of manufacturers in developing countries to export and/or import either directly or indirectly[…]
KCG Professors Have Contributed to the Report of the German Council of Economic Advisors 16th November 2017 KCG Secretary News News News Holger Görg and Aoife Hanley wrote a background paper for the latest report by the German Council of Economic Advisors (Sachverständigenrat). The background paper, entitled “Globalization: Implications for Firms in Germany”, looks at data at the firm level to shed light on questions such as: What types of firms are involved in trade or investments? What distinguishes these globalized firms, if anything, from firms that are not engaged in these international activities?[…]
Finn Ole Semrau Works As International Expert for GIZ in Mozambique 9th November 2017 KCG Secretary News News News KCG junior researcher Finn Ole Semrau is commissioned as international expert and study coordinator by the Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. Within the scope of this activity, he visited the provinces of Manica and Sofala in Mozambique for three weeks. The KCG junior researcher supports the GIZ with the implementation of a baseline study focusing on smallholder farmers commercially active in the agricultural value chains of baobab, pigeon pea and organic rice. The baseline study is part of the monitoring system […]
KCG Working Paper No. 5: Globalization: Implications for firms in Germany 7th November 2017 KCG Secretary KCG Working Papers Publications Publications Publications Authors: Holger Görg and Aoife Hanley This paper, however, is not about evaluating whether or not Germany has, on aggregate, done well out of globalization. Rather, we dig deeper into the economy and acknowledge the fact that it is not countries that trade or invest, but rather firms[…]
External Research Fellow Prof. Girma Visited Kiel Last Week 2nd November 2017 KCG Secretary News News News During the week from October 23rd to 27th KCG’s external research fellow Professor Sourafel Girma from Nottingham University visited the Kiel Institute and KCG. Professor Girma used his stay to discuss current and future research projects with KCG members […]
Firms’ Financial Health was Key to Avoid Export Market Exit in the Global Financial Crisis 27th October 2017 KCG Secretary News News News The volume of international trade declined dramatically during the global financial crisis of 2008-09. Since then several explanations have been proposed for this sudden trade collapse. These include a fall in global demand, reviving trade protectionism, a domino effect created by global value chains, and the restriction in external finance for firms. Uncovering the contribution of these various causes to the severity of the trade collapse is crucial to understand the functioning of the global trade system and to mitigate the effects of future economic crises..[…]
Firms’ Global Engagement and Management Practices 19th October 2017 KCG Secretary KCG Journal Articles Authors: Holger Görg and Aoife Hanley (Economics Letters, 2017, Vol. 155, 80–83) We investigate whether firms’ “global engagement”, either in the form of exporting or opening up affiliates abroad, is related to the change in their management performance[…]
Export Market Exit and Financial Health in Crises Periods 19th October 2017 KCG Secretary KCG Journal Articles Authors: Holger Görg and Marina-Eliza Spaliara (Journal of Banking & Finance, 2018, Vol. 87, 150-163) This paper uses rich firm-level data for the UK to investigate the link between firms’ financial health and export exit, paying attention to the ERM currency crisis and the global financial crisis..[…]
KCG Working Paper No. 4: Export Market Exit and Financial Health in Crises Periods 19th October 2017 KCG Secretary KCG Working Papers Publications Publications Publications Authors: Holger Görg and Marina-Eliza Spaliara This paper uses rich firm-level data for the UK to investigate the link between firms’ financial health and export exit, paying attention to the ERM currency crisis and the global financial crisis. Our results show that deterioration in the financial position of firms has increased the hazard of export exit during the 2007-09 crisis but has no significant effect on the early 1990s crisis. We also explore the extent to which firms in financially vulnerable industries face greater sensitivity of export exit to financial conditions. We conclude that firms in sectors with great reliance on external finance experience higher hazards of exiting the export market during the 2007-09 crisis..[…]