What Drives Germany's Exports?

• Autorzy: Michael Frenke , Lilli Zimmermann
• Języki publikacji: EN

Abstrakty

EN

This article reviews several hypotheses that aim at explaining the development of German merchandise exports. Based on cointegration estimation techniques, we examine different determinants for their ability to explain German exports during the period 1992-2016. The estimation results indicate that, in addition to the traditional determinants (world demand and price competitiveness), other determinants, such as energy prices and the increasing fragmentation of production processes, are also crucial in explaining German exports(original abstract)

Słowa kluczowe

EN

International trade; Export; Cointegration

PL

Handel międzynarodowy; Eksport; Kointegracja

• Czasopismo: International Journal of Management and Economics
• Rocznik: 2020
• Tom: 56
• Numer: nr 2
• Strony: 99--108

Twórcy

autor

Michael Frenke

• WHU - Otto Beisheim School of Management, Germany

autor

Lilli Zimmermann

• Deutsche Bundesbank; University of Applied Sciences, Germany

Bibliografia

• Barrell, R., Pomerantz, O. (2007), Globalisation and technology intensity as determinants of exports, NIESR Discussion Papers 295.
• Blanchard, O. J., Philippon, T. (2004), The quality of labor relations and unemployment, MIT Department of Economics Working Paper 04-25.
• Bundesbank. (2006), Determinanten der Leistungsbilanzentwicklung in den mittel- und osteuropäischen EU-Mitgliedsländern und die Rolle deutscher Direktinvestitionen, Monatsbericht Januar 2006, 17-36.
• Cassiman, B., Golovko, E., Martínez-Ros, E. (2010), Innovation, exports and productivity, International Journal of Industrial Organization, Vol. 28, No. 4, pp. 372-376.
• Danninger, S., Joutz, F. (2007), What explains Germany's rebounding export market share? IMF Working Paper 07/24.
• De Loecker, J. (2007), Do exports generate higher productivity? Evidence from Slovenia, Journal of International Economics, Vol. 73, No. 1, pp. 48-68.
• De Loecker, J. (2011), Product differentiation, multiproduct firms, and estimating the impact of trade liberalization on productivity, Econometrica, Econometric Society, Vol. 79, No. 5, pp. 1407-1451.
• Engle, R. F., Granger, C.W.J. (1987), Cointegration and error correction: representation, estimation, testing, Econometrica, Vol. 55, No. 2, pp. 251-276.
• German Renewable Energy Federation (2008), Fact sheet, BEE Publishing, Berlin.
• Goldstein, M., Khan, M.S. (1985), Income and price effects in foreign trade, in: R.W. Jones, P.B. Kenen (Eds), Handbook of international economics, Vol. 2, Elsevier Science Publishers B.V., Amsterdam, pp. 1041-1105.
• Grossman, G., Helpman, E. (1991), Quality ladders in the theory of growth, Review of Economic Studies, Vol. 58, No. 1, pp. 43-61.
• Hansen, T. (2010), Exports and productivity: an empirical analysis of German and Austrian firm-level performance, Munich Discussion Paper No. 2010-22.
• Hooper, P., Johnson, K., Marquez, J. (2000), Trade elasticities for the G-7 countries, Princeton Studies in International Economics, Vol. 87, pp. 3-13.
• International Energy Agency (IEA) (2008), Annual Report 2008, IEA Publishing, Paris.
• Johansen, S. (1988), Statistical analysis of cointegration vectors, Journal of Economic Dynamics and Control, Vol. 12, No. 2-3, pp. 231-254.
• Johansen, S. (1992a), Cointegration in partial systems and the efficiency of single equation analysis, Journal of Economics,Vol. 52, pp. 389-402.
• Johansen, S. (1992b), Testing weak exogeneity and the order of cointegration in UK money demand data, Journal of Policy Modeling Vol. 14, No. 3, pp. 313-334.
• Kleinert, J. (2001), The time pattern of the internationalization of production, German Economic Review, Vol. 2, No. 1, pp. 79-98.
• Krugman, P. (1983), New theories of trade among industrial countries, American Economic Review, Vol. 73, pp. 343-347.
• Krugman, P. (1985), A technology gap model of international trade, in: K. Jungenfelt, D. Hague, (Eds), Structural adjustment in developed open economies, Palgrave Macmillan, London, pp. 35-49.
• Madsen, J. (2004), Technological revolutions, innovations and trade performance, EPRU Working Paper Series 12.
• Nielson, M. (2005), Noncontemporous cointegration and the importance of timing, Economic Letters, Vol. 86, No. 1, pp. 113-119.
• Sawyer, W.C., Sprinkle, R.L. (1999), The demand for exports and imports in the world economy, Ashgate, Aldershot.
• Senhadji, A., Montenegro, C. (1999), Time series analysis of export demand equations: a cross-country analysis, IMF Staff Papers, Vol. 46, No. 3, pp. 259-273.
• Sinn, H.-W. (2006a), The pathological export boom and the bazaar effect: how to solve the German puzzle, Ces-ifo Working Paper 1708.
• Sinn, H.-W. (2006b), Das deutsche Rätsel: Warum wir Exportweltmeister und Schlusslicht zugleich sind, Perspektiven der Wirtschaftspolitik, Vol. 7, pp. 1-18.
• Sinn, H.-W. (2014), Austerity, growth and inflation: remarks on the Eurozone's unresolved competitiveness problem, The World Economy, Vol. 37, No. 1, pp. 1-13.
• Stahn, S. (2006), Has the impact of key determinants of german exports changed? Results from estimations of Germany's intra Euro-area and extra Euro-area exports, Deutsche Bundesbank Discussion Paper 1: Economic Studies 07.
• Stephan, S. (2005), German exports to the Euro area - a cointegration approach, DIW Discussion Paper 286.
• Strauß, H. (2000), Eingleichungsmodelle zur Prognose des deutschen Außenhandels, Kieler Arbeitspapier 987.
• Strauß, H. (2004), Demand and supply of aggregate exports of goods and services. Multivariate cointegration analyses for the United States, Canada, and Germany, Kieler Studien, Vol. 329.

Identyfikatory

DOI

10.2478/ijme-2020-0013