Selling under other skies when energy prices skyrocket: How do the companies adapt their export strategy when energy prices rise?
Copyright policy )Selling under other skies when energy prices skyrocket: How do the companies adapt their export strategy when energy prices rise?
The prospect of higher carbon taxation raises concerns that these policies could hinder the ability of domestic industry to compete in export markets, especially for energy-intensive sectors. The recent jump in energy prices leads to even greater worries. This paper investigates the impact of a change in energy prices on export patterns of manufacturing firms using a large panel of French firms observed from 2001 to 2015. The identification strategy uses a fixed weight energy price index as a shift-share instrumental variable for the average energy cost. For the average firm we find that a 10% increase in the energy cost is associated with a 3.6% decrease in total export value, a 1.3% decrease in the number of export destinations, and a 2.3% increase in export prices. But there are substantial heterogeneities between firms facing a similar increase in energy costs and the impact of an energy cost increase differs from one destination export to another. ; non ; oui ; recherche ; International
Energy cost, Prices, Q.Q3.Q37, 330, Environmental and Ecological Economics::Q4 - Energy::Q41 - Demand and Supply, Price gap, OECD and non-OECD countries, Q.Q4.Q41, Extensive and intensive margins, Export performance, Low energy price countries, Environmental and Ecological Economics::Q3 - Nonrenewable Resources and Conservation::Q37 - Issues in International Trade, Q - Agricultural and Natural Resource Economics
Energy cost, Prices, Q.Q3.Q37, 330, Environmental and Ecological Economics::Q4 - Energy::Q41 - Demand and Supply, Price gap, OECD and non-OECD countries, Q.Q4.Q41, Extensive and intensive margins, Export performance, Low energy price countries, Environmental and Ecological Economics::Q3 - Nonrenewable Resources and Conservation::Q37 - Issues in International Trade, Q - Agricultural and Natural Resource Economics
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