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Economic policy uncertainty, contracting frictions and imports sourcing decisions

机译:经济政策不确定性,承包摩擦和进口采购决策

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This paper studies whether economic policy uncertainty could interact with contracting frictions to jointly affect importers' choice to source from integrated parties or external parties. Using Related Party Trade dataset for the US, Economic Policy Uncertainty dataset by Baker et al. (2016) and contract intensity constructed by Nunn (2007), we find that US importers in high contract intensity industries would respond to increased economic policy uncertainty by increasing intra-firm trade share. Particularly, the intra-firm imports share would increase by 4.87% compared to the mean when the EPU and the contract intensity both rise from 10th to 90th percentile. In addition, we find that this effect is more pronounced for developing countries. (c) 2021 Elsevier B.V. All rights reserved.
机译:本文研究了经济政策不确定性是否可以与承包摩擦互动,共同影响进口商的选择,从综合缔约方或外国方面的来源。使用与美国的相关方交易数据集,Baker等人的经济政策不确定性数据集。 (2016年)由Nunn(2007年)建造的合同强度(2007年),我们发现美国进口商在高合同强度行业中,通过增加内部贸易份额来应对经济政策的不确定性。特别是,与EPU和合同强度从10到第90百分位增加时,努力内部进口份额将增加4.87%。此外,我们发现这种效果对发展中国家更加宣称。 (c)2021 Elsevier B.V.保留所有权利。

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