International production networks are overcoming covid-19 shocks: Evidence from japan’s machinery trade

研究成果: Article査読

1 被引用数 (Scopus)

抄録

This paper investigates the impacts of COVID-19 on international production networks in machinery sectors by shedding light on negative supply shocks, negative demand shocks, and positive demand shocks. Specifically, we examined changes in trade in the trade-fall periods amid COVID-19 in 2020 using Japan’s machinery trade at the most disaggregated level and decomposed them into two intensive margins (i.e., the quantity effect and the price effect) and two extensive margins (i.e., the entry effect and the exit effect). Our empirical results show that trade relationships for par ts and components were robust even amid COVID-19 and that international production networks in machinery sectors were almost intact. They also demonstrate that COVID-19 brought positive demand shocks for specific products with special demand due to its nature in addition to negative supply shocks and negative demand shocks, which par tially explains heterogeneous effects not only among sectors but also among products in the same sector. As of October 2020, Japan’s machinery trade seems to have mostly recovered.

本文言語English
ページ(範囲)40-72
ページ数33
ジャーナルAsian Economic Papers
20
3
DOI
出版ステータスPublished - 2021 11月 1

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学
  • 政治学と国際関係論

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