The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State
This paper evaluates the impact of state visits on export flows and the specific role of the head of state based on the five Nordic countries: Denmark, Finland, Iceland, Norway, and Sweden. We construct a complete and comprehensive dataset containing all outgoing state visits from the Nordic countri...
Main Authors: | , |
---|---|
Format: | Other/Unknown Material |
Language: | English |
Published: |
Lunds universitet/Nationalekonomiska institutionen
2023
|
Subjects: | |
Online Access: | http://lup.lub.lu.se/student-papers/record/9118674 |
id |
ftulundlupsp:oai:lup-student-papers.lub.lu.se:9118674 |
---|---|
record_format |
openpolar |
spelling |
ftulundlupsp:oai:lup-student-papers.lub.lu.se:9118674 2023-07-30T04:04:26+02:00 The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State Lundqvist, Ebba Wieslander, Clara 2023 application/pdf http://lup.lub.lu.se/student-papers/record/9118674 eng eng Lunds universitet/Nationalekonomiska institutionen http://lup.lub.lu.se/student-papers/record/9118674 State Visits Export Promotion Head of State Monarchy Republic Difference-in-Differences Business and Economics H2 2023 ftulundlupsp 2023-07-11T20:10:14Z This paper evaluates the impact of state visits on export flows and the specific role of the head of state based on the five Nordic countries: Denmark, Finland, Iceland, Norway, and Sweden. We construct a complete and comprehensive dataset containing all outgoing state visits from the Nordic countries between 1973 and 2022. Our main empirical strategy is to apply a difference-in differences (DiD) approach using a novel robust estimation method by Callaway and Sant’Anna (2021) to estimate the effect of state visits on export flows and the role that the head of state plays during state visits. We also employ a traditional two-way fixed effects (TWFE) DiD approach to compare the results. Furthermore, we employ a series of placebo tests and robustness checks to validate our results. Our analysis reveals that outgoing state visits made by the Nordic countries have a significant impact on export flows with an average post-treatment effect of 276.8 million USD. The role of the head of state is less pronounced, although our results indicate that state visits conducted by monarchs drive the results more than state visits performed by presidents. Other/Unknown Material Iceland Lund University Publications Student Papers (LUP-SP) Norway |
institution |
Open Polar |
collection |
Lund University Publications Student Papers (LUP-SP) |
op_collection_id |
ftulundlupsp |
language |
English |
topic |
State Visits Export Promotion Head of State Monarchy Republic Difference-in-Differences Business and Economics |
spellingShingle |
State Visits Export Promotion Head of State Monarchy Republic Difference-in-Differences Business and Economics Lundqvist, Ebba Wieslander, Clara The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State |
topic_facet |
State Visits Export Promotion Head of State Monarchy Republic Difference-in-Differences Business and Economics |
description |
This paper evaluates the impact of state visits on export flows and the specific role of the head of state based on the five Nordic countries: Denmark, Finland, Iceland, Norway, and Sweden. We construct a complete and comprehensive dataset containing all outgoing state visits from the Nordic countries between 1973 and 2022. Our main empirical strategy is to apply a difference-in differences (DiD) approach using a novel robust estimation method by Callaway and Sant’Anna (2021) to estimate the effect of state visits on export flows and the role that the head of state plays during state visits. We also employ a traditional two-way fixed effects (TWFE) DiD approach to compare the results. Furthermore, we employ a series of placebo tests and robustness checks to validate our results. Our analysis reveals that outgoing state visits made by the Nordic countries have a significant impact on export flows with an average post-treatment effect of 276.8 million USD. The role of the head of state is less pronounced, although our results indicate that state visits conducted by monarchs drive the results more than state visits performed by presidents. |
format |
Other/Unknown Material |
author |
Lundqvist, Ebba Wieslander, Clara |
author_facet |
Lundqvist, Ebba Wieslander, Clara |
author_sort |
Lundqvist, Ebba |
title |
The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State |
title_short |
The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State |
title_full |
The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State |
title_fullStr |
The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State |
title_full_unstemmed |
The Diplomacy of Trade: An Empirical Investigation of State Visits as a Tool for Export Promotion and the Specific Role of the Head of State |
title_sort |
diplomacy of trade: an empirical investigation of state visits as a tool for export promotion and the specific role of the head of state |
publisher |
Lunds universitet/Nationalekonomiska institutionen |
publishDate |
2023 |
url |
http://lup.lub.lu.se/student-papers/record/9118674 |
geographic |
Norway |
geographic_facet |
Norway |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
http://lup.lub.lu.se/student-papers/record/9118674 |
_version_ |
1772815865611288576 |