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Why do oil importers diversify their import sources politically? : evidence from U.S. firm-level data
https://doi.org/10.20561/00037712
https://doi.org/10.20561/00037712376dce9a-27d7-4516-86e5-02972d07990b
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
本文 (286.0 kB)
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| Item type | アジ研テクニカルレポート / IDE Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2014-06-25 | |||||
| タイトル | ||||||
| タイトル | Why do oil importers diversify their import sources politically? : evidence from U.S. firm-level data | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| ID登録 | ||||||
| ID登録 | 10.20561/00037712 | |||||
| ID登録タイプ | JaLC | |||||
| 著者 |
Kashcheeva, Mila
× Kashcheeva, Mila× Tsui, Kevin K. |
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| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | International politics affects oil trade. But why? We construct a firm-level dataset for all U.S. oil-importing companies over 1986-2008 to examine what kinds of firms are more responsive to change in "political distance" between the U.S. and her trading partners, measured by divergence in their UN General Assembly voting patterns. Consistent with previous macro evidence, we first show that individual firms diversify their oil imports politically, even after controlling for unobserved firm heterogeneity. We conjecture that the political pattern of oil imports from these individual firms is driven by hold-up risks, because oil trade is often associated with backward vertical FDI. To test this hold-up risk hypothesis, we investigate heterogeneity in responses by matching transaction-level import data with firm-level worldwide reserves. Our results show that long-run oil import decisions are indeed more elastic for firms with oil reserves overseas than those without, although the reverse is true in the short run. We interpret this empirical regularity as that while firms trade in the spot market can adjust their imports immediately, vertically-integrated firms with investment overseas tend to commit to term contracts in the short run even though they are more responsive to changes in international politics in the long run. | |||||
| 権利 | ||||||
| 権利情報 | Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp | |||||
| 収録情報 |
IDE Discussion Paper en : IDE Discussion Paper 巻 458, 発行日 2014-02-01 |
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| 出版者 | ||||||
| 出版者 | Institute of Developing Economies (IDE-JETRO) | |||||
| 著者版フラグ | ||||||
| 出版タイプ | VoR | |||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 678 | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:F13 - Trade Policy; International Trade Organizations | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:F51 - International Conflicts; Negotiations; Sanctions | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:F59 - International Relations and International Political Economy: Other | |||||
| JEL分類 | ||||||
| 主題Scheme | Other | |||||
| 主題 | JEL:Q34 - Natural Resources and Domestic and International Conflicts | |||||
| 地域/国名 | ||||||
| 位置情報（自由記述） | アメリカ合衆国 | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | United States | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | International trade | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | International relatiolns | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Petroleum industry | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Imports | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Foreign investments | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Energy resources | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | International politics | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | FDI-based imports | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Hold-up risk | |||||
| キーワード(LSH) | ||||||
| 主題Scheme | Other | |||||
| 主題 | Energy security | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| DIG_NO | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | IDP000458_001 | |||||
