Please use this identifier to cite or link to this item:
https://doi.org/10.21256/zhaw-3977| Publication type: | Article in scientific journal |
| Type of review: | Peer review (publication) |
| Title: | Backward participation in global value chains and exchange rate driven adjustments of Swiss exports |
| Authors: | Fauceglia, Dario Lassmann, Andrea Shingal, Anirudh Wermelinger, Martin |
| DOI: | 10.21256/zhaw-3977 10.1007/s10290-018-0310-z |
| Published in: | Review of World Economics |
| Volume(Issue): | 154 |
| Issue: | 3 |
| Page(s): | 537 |
| Pages to: | 584 |
| Issue Date: | 2018 |
| Publisher / Ed. Institution: | Springer |
| ISSN: | 1610-2878 1610-2886 |
| Language: | English |
| Subjects: | Global value chain; Gravity equation; International trade |
| Subject (DDC): | 337: International economics and commerce |
| Abstract: | This paper examines the effect of exchange rate movements on export volume, export revenues and propensity to export taking into account the extent of foreign value added content of exports (“backward integration”) in global value chains (GVCs). Using both product-level and firm-level panel data, our results suggest that Swiss exports (intensive margin) and the export probability (extensive margin) are negatively affected by a currency appreciation. However, this adverse effect is mitigated in sectors and firms that are more integrated in GVCs, which could be explained by the “natural hedging” of exchange rate movements. Our findings are robust to the use of different measures of natural hedging and GVC integration and also hold across various specifications and estimation methods that control for sample selection, firm heterogeneity, heteroskedastic errors and persistence in export behavior. The dynamic specifications also reveal that export hysteresis driven by a currency appreciation is a concern particularly for firms that are not established in export markets. |
| Further description: | Erworben im Rahmen der Schweizer Nationallizenzen (http://www.nationallizenzen.ch) |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/10338 |
| Fulltext version: | Published version |
| License (according to publishing contract): | Licence according to publishing contract |
| Restricted until: | 2023-08-01 |
| Departement: | School of Management and Law |
| Organisational Unit: | Center for Labor, Digital and Regional Economics (CLDR) |
| Appears in collections: | Publikationen School of Management and Law |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Fauceglia2018_Article_BackwardParticipationInGlobalV.pdf | 1.64 MB | Adobe PDF |  View/Open |
Show full item record
Fauceglia, D., Lassmann, A., Shingal, A., & Wermelinger, M. (2018). Backward participation in global value chains and exchange rate driven adjustments of Swiss exports. Review of World Economics, 154(3), 537–584. https://doi.org/10.21256/zhaw-3977
Fauceglia, D. et al. (2018) ‘Backward participation in global value chains and exchange rate driven adjustments of Swiss exports’, Review of World Economics, 154(3), pp. 537–584. Available at: https://doi.org/10.21256/zhaw-3977.
D. Fauceglia, A. Lassmann, A. Shingal, and M. Wermelinger, “Backward participation in global value chains and exchange rate driven adjustments of Swiss exports,” Review of World Economics, vol. 154, no. 3, pp. 537–584, 2018, doi: 10.21256/zhaw-3977.
FAUCEGLIA, Dario, Andrea LASSMANN, Anirudh SHINGAL und Martin WERMELINGER, 2018. Backward participation in global value chains and exchange rate driven adjustments of Swiss exports. Review of World Economics. 2018. Bd. 154, Nr. 3, S. 537–584. DOI 10.21256/zhaw-3977
Fauceglia, Dario, Andrea Lassmann, Anirudh Shingal, and Martin Wermelinger. 2018. “Backward Participation in Global Value Chains and Exchange Rate Driven Adjustments of Swiss Exports.” Review of World Economics 154 (3): 537–84. https://doi.org/10.21256/zhaw-3977.
Fauceglia, Dario, et al. “Backward Participation in Global Value Chains and Exchange Rate Driven Adjustments of Swiss Exports.” Review of World Economics, vol. 154, no. 3, 2018, pp. 537–84, https://doi.org/10.21256/zhaw-3977.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.