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The impact of Covid-19 pandemic on the export competitiveness of manufacturing firms in Croatia

Stojcic, Nebojsa (2020): The impact of Covid-19 pandemic on the export competitiveness of manufacturing firms in Croatia. Published in: Economic Thought and Practice , Vol. 20, No. 2 (December 2020): pp. 347-365.

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Abstract

The aim of this paper is to explore the impact of Covid-19 pandemic on changes in export competitiveness of firms from Croatian manufacturing industry. The analysis is based on the data about firm behaviour in period following first wave of Covid-19 pandemic. The data was collected by World Bank during August and September 2020 and publicly released in early October 2020. The results of investigation reveal that probability of decreasing export revenues falls among firms that solved their liquidity problems through equity financing, deferred payments to workers and suppliers and with the support of public grants. Statistically significant evidence of the tax exemptions, wage subsidies and commercial banks’ loans was not found. Companies with higher level of robustness to external shocks have lower probability of decreasing export revenues. The impact of introduction or implementation of online sales on export revenues is negative. Results of investigation may serve for formulation of economic policies in similar future cases.

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