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Title:Exposure to external country specific shocks and income volatility PDF Logo
Authors:Jansen, Marion
Lennon, Carolina
Piermartini, Roberta
Issue Date:2009
Series/Report no.:WTO Staff Working Paper ERSD-2009-04
Abstract:We show that exposure to country specific shocks has a positive and significant impact on GDP volatility. In particular, we find that the degree to which the cycles of different trading partners are correlated is more important in explaining exporters’ GDP volatility than the volatility of demand in individual export market. We also show that geographical diversification is a significant determinant of countries' exposure to country specific shocks.
Subjects:Income volatility
geographical export diversification
external shocks
JEL:C23
F43
O19
Document Type:Working Paper
Appears in Collections:WTO Staff Working Papers, Economic Research and Statistics Division, WTO

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