The trade effects of counter-cyclical fiscal policies
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文摘

We consider the influence of counter-cyclical fiscal policy on industrial exports.

Counter-cyclical policy is beneficial to the exports of sectors that rely more on external funds.

The estimated export gains range from 9.8% to 13.5% for the results of OLS.

The estimated export gains lie between 25.7% and 39.3% based on the results of IV.

The key finding survives a variety of robustness checks.

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