Economics
Research insight
INVITED EDITOR
Editorial from
Nova SBE Finance Knowledge Center
Nova SBE Finance Knowledge Center is to developed and disseminate state-of-the-art research and knowledge in finance.
July 16, 2024
8. Decent work and economic growth

8. Decent work and economic growth

Promote inclusive and sustainable economic growth, full and productive employment and decent work for all
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16. Peace, justice and strong institutions

Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels.
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17. Partnerships for the goals

Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development
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How Do Firms Respond To Demand Shocks?

The study from Nova SBE Finance Knowledge Center examines the response of firms to domestic demand shocks based on the large and unanticipated shock to government spending in European periphery countries during the 2010-2011 sovereign debt crisis.

This study examines how firms respond to domestic demand shocks using the large and unanticipated shock to government spending in European periphery countries during the 2010-2011 sovereign debt crisis. We find that firms with higher ex-ante exposure to government procurement contracts significantly increase their exports after the shock or exit. Older and larger firms are better able to substitute domestic sales with entry into export markets than younger and smaller firms. Firms with high-skill workers, high productivity and more educated managers are also more likely to start exporting. Our results suggest that mature and high-quality firms drive the response of tradeable industries to domestic demand shocks.

Researchers: Manuel Adelino (Duke University), Paulo Fagandini (Nova SBE), Miguel Ferreira (Nova SBE), Francisco Queiró (Nova SBE).

To access the paper, click here.

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Nova SBE Finance Knowledge Center is to developed and disseminate state-of-the-art research and knowledge in finance.
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