首页|Extreme heat and exports: Evidence from Chinese exporters
Extreme heat and exports: Evidence from Chinese exporters
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NSTL
Elsevier
Does extreme heat have causal effects on exports? If so, how do the effects evolve? This paper exploits monthly fluctuations in the number of extremely hot days within a city to identify their effects on firm-level exports in that city. We find robust evidence that hot temperatures have persistent adverse effects on firm-level exports. Specifically, export losses gradually arise following a heat shock, beginning from an undetectable impact and eventually accumulating to a large and significant impact. An additional >30 degrees C day in a month could generate cumulative losses up to 0.83% of a firm's annual exports twenty-four months later. The negative effects of extreme heat are mainly through its adverse impacts on the firm's investment, capital, and production output. Capital-intensive sectors and FDI-related enterprises are among the most affected by high temperatures. Our findings support the "no-recovery" hypothesis after weather extremes and have implications for future climate change policies.
Climate changeExtreme heatChina's exports
Li, Chengzheng、Cong, Jiajia、Yin, Lijuan
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Jinan Univ, Inst Econ & Social Res, 601 West Huangpu Rd, Guangzhou 510632, Peoples R China
Fudan Univ, Sch Management, Dept Ind Econ, 670 Guoshun Rd, Shanghai 200433, Peoples R China
NSTL
Elsevier
