Propagation of Shocks by Natural Disasters through Global Supply Chains
Propagation of Shocks by Natural Disasters through Global Supply Chains
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发表时间：
2018-06
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通讯作者：
Kashiwagi Yuzuka;Todo Yasuyuki;P. Matouš
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作者：
Kashiwagi Yuzuka;Todo Yasuyuki;P. Matouš
这项研究调查了2012年袭击美国的飓风桑迪造成的间接影响。使用全球供应链上的公司级数据，我们研究了当供应商或客户受到飓风破坏时，美国国内外公司的销售增长是如何变化的。我们的结果表明，受损公司对其在美国的交易伙伴的影响是负的，并且在统计上显著，而对美国以外的交易伙伴的影响并不显著。另一种规范表明，国际化公司替代受损合作伙伴的能力很可能解释了缺乏国际传播的原因。
This study investigates the indirect effects of shocks by Hurricane Sandy that hit the United States in 2012. Using firm-level data on global supply chains, we examine how sales growth of firms inside and outside the United States changed when their suppliers or clients were damaged by the hurricane. Our results show that the effect of damaged firms on their transaction partners in the United States is negative and statistically significant, while the effect on their partners outside the United States is insignificant. Alternative specifications suggest that internationalized firms' ability to substitute for damaged partners most likely explains the absence of international propagation.