Browsing by Subject "Exports"
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Item Open Access A comparative investigation of the price competitiveness of Turkish and Southeast Asian exports in the European Union market, 1990-1997(Routledge, 2002) Kotan, Z.; Sayan, S.The relative concentration with respect to export markets and products makes export receipts of Turkey vulnerable to fluctuations in the demand conditions. Given that most of the Turkish exports face intense competition from close substitutes produced in other countries, avoiding large fluctuations in export receipts, and maintenance/growth of market shares in such major export destinations as the EU market often require price competition. This paper investigates the significance and nature of price competition between Turkish and Southeast Asian exporters of selected manufacturing products in the EU market where this competition is particularly stiff. For this purpose, we estimate a model that posits that the relative market shares of Turkish and Southeast Asian exporters in the EU markets for commodities we consider are related to © 2002 M.E. Sharpe, Inc. All rights reserved.Item Open Access The impact of environmental regulations on exports: case study results from Cyprus, Jordan, Morocco, Syria, Tunisia and Turkey(Elsevier, 2002) Zaim, K. K.; Larson, B. A.; Nicolaides, E.; Al Zu'bi, B.; Sukkar, N.l; Laraki, K.; Matoussi, M. S.; Chouchani, C.Concern about the effects of environmental policies on trade competitiveness continues to grow in the non-EU Mediterranean regions (e.g., North Africa, the Middle East, Turkey, Cyprus). While the impact of environmental regulations on exports is widely discussed in the region, there has been little empirical analysis of how more stringent environmental regulations might affect exports of key sectors in the future. This paper summarizes the results of six case studies that estimate the impact of potential changes in environmental regulations on exports from a key sector in each country. These case studies, which are based on a theoretically consistent yet empirically tractable modeling approach, suggest that a range of outcomes is likely and depends on a fairly small set of specific information. For some of the cases, expected regulatory changes would probably have little impact on exports, while in other cases the impacts could be substantially larger. In some countries, the range of potential outcomes is largely due to the magnitude of the policy change, the importance of various inputs in production, and the lack of information on international market conditions. Copyright © 2002 Elsevier Science Ltd. All rights reserved.Item Open Access Not all firms react the same to exchange rate volatility? A firm level study(Elsevier Inc., 2017) Tunc C.; Solakoglu, M. N.This article investigates the effect of exchange rate volatility on the exporting behavior of firms using a very rich Turkish firm-level data for the period of 1989–2013. The estimation results show that although exchange rate volatility has depressing impact on foreign sale share of firms, the magnitude and the sign of the effect differ substantially across firm classifications. More specifically, medium-sized firms, firms not listed in the stock market, and less foreign market dependent firms observe significant depressing impact of exchange rate volatility while the other firms are, by and large, immune to negative effect of exchange rate volatility. Furthermore sectors and firm age have important role on the differential impact of exchange rate volatility on foreign sales activity of firms.Item Open Access Risk-based capital requirements for banks and international trade(Oxford University Press, 2017) Demir, Banu; Michalski, T. K.; Ors, E.We test the trade finance channel of exports by controlling for the bank credit channel. Using Turkey’s July 2012 adoption of Basel II as a quasi-natural experiment, we examine whether shocks to trade financing costs affect exports. With data for 16,662 Turkish exporters shipping 2,888 different products to 158 countries, we find that the share of letters-of-credit-based exports decreases (increases) when the associated risk weights for counterparty exposure increase (decrease) after the adoption of Basel II. However, growth of firm-product-country-level exports remains unaffected. Trade financing might have a lesser role in exports than previously suggested by the previous literature. © The Author 2017. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved.Item Open Access Trade finance matters: evidence from the COVID-19 crisis(Oxford University Press, 2020) Demir, Banu; Javorcik, B.This study documents a substantial decline in the exports of major trading nations taking place in March 2020. Accounting for product-specific seasonality and annual trends, the data suggest a drop by 38 per cent in France, about a quarter in Turkey and Germany, and 12 per cent in the US, relative to their historical averages. Detailed export data from Turkey, disaggregated by financing terms, show another striking pattern. Flows using bank intermediation which eliminates or reduces the risk of non-payment or non-arrival of prepaid goods, such as letters of credit or documentary collection, appear to have been much more resilient to the current downturn relative to flows using other financing terms. These findings suggest that access to trade finance is vital during times of heightened uncertainty.