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The COVID-19 Pandemics and Import Demand Elasticities: Evidence from China's Customs Data

Economics

The COVID-19 Pandemics and Import Demand Elasticities: Evidence from China's Customs Data

W. Zhang, I. K. M. Yan, et al.

Unlock the secrets of China’s import demand elasticities as Weikang Zhang, Isabel K. M. Yan, and Yin-Wong Cheung unveil how economic policies and market dynamics reshape international trade during the pandemic. Discover their groundbreaking findings from extensive data analysis that challenges existing notions of exchange rate impacts!

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Playback language: English
Abstract
This paper investigates China's import demand elasticities using HS 8-digit customs data from January 2019 to March 2021. The study finds that both direct bilateral exchange rate elasticity and third-country exchange rate elasticity are influenced by Asian economies' pandemic-alleviating policies and exporter market concentration. Economic support policies lower bilateral exchange rate elasticity, potentially changing its sign, and increase exporter resilience to foreign competition. Conversely, high market concentration lowers bilateral exchange rate elasticity but amplifies the impact of competitor currency depreciation. These findings are robust across various trade modes, regions, products, policy measures, and datasets.
Publisher
Humanities & Social Sciences Communications
Published On
Dec 18, 2023
Authors
Weikang Zhang, Isabel K. M. Yan, Yin-Wong Cheung
Tags
import demand elasticities
exchange rate elasticity
pandemic policies
exporter resilience
market concentration
trade dynamics
economic support

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