What determines exports of luxury products? The case of cognac
This paper analyzes the determinants of Cognac brandy exports using a unique database on Cognac shipments to more than 140 destinations between 1996 and 2013. We use this database to construct descriptive statistics concerning the evolution of Cognac exports during this period. We also construct a d...
| Main Authors: | , , |
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| Format: | Journal Article |
| Language: | Inglés |
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Cambridge University Press
2017
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10568/148615 |
| _version_ | 1855533171817316352 |
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| author | Bouët, Antoine Emlinger, Charlotte Lamani, Viola |
| author_browse | Bouët, Antoine Emlinger, Charlotte Lamani, Viola |
| author_facet | Bouët, Antoine Emlinger, Charlotte Lamani, Viola |
| author_sort | Bouët, Antoine |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | This paper analyzes the determinants of Cognac brandy exports using a unique database on Cognac shipments to more than 140 destinations between 1996 and 2013. We use this database to construct descriptive statistics concerning the evolution of Cognac exports during this period. We also construct a database of protectionist policies that affect worldwide Cognac exports. We analyze the determinants of Cognac exports and base our empirical strategy on Heckman's (1979) procedure. We estimate successively the impact of geographical, demand and policy factors on the extensive margin of trade and the intensive margin of trade. We also control for the possibility of an endogeneity bias on the probability of trade. We show that i) as with other luxury products, the elasticity of Cognac exports to distance is negative, significant, and relatively small, while the elasticity to gross domestic product (GDP) is positive, significant, and relatively large; and ii) average customs duties do not have a significant impact on the intensive margin but significantly and positively affect the probability of trade. We discuss this last result and correct the endogeneity bias using tax revenues of importing countries in percentage of GDP as an instrument. (JEL Classifications: F10, F14) |
| format | Journal Article |
| id | CGSpace148615 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2017 |
| publishDateRange | 2017 |
| publishDateSort | 2017 |
| publisher | Cambridge University Press |
| publisherStr | Cambridge University Press |
| record_format | dspace |
| spelling | CGSpace1486152024-11-15T08:52:49Z What determines exports of luxury products? The case of cognac Bouët, Antoine Emlinger, Charlotte Lamani, Viola wealth exports cognac gravity data viticulture international trade This paper analyzes the determinants of Cognac brandy exports using a unique database on Cognac shipments to more than 140 destinations between 1996 and 2013. We use this database to construct descriptive statistics concerning the evolution of Cognac exports during this period. We also construct a database of protectionist policies that affect worldwide Cognac exports. We analyze the determinants of Cognac exports and base our empirical strategy on Heckman's (1979) procedure. We estimate successively the impact of geographical, demand and policy factors on the extensive margin of trade and the intensive margin of trade. We also control for the possibility of an endogeneity bias on the probability of trade. We show that i) as with other luxury products, the elasticity of Cognac exports to distance is negative, significant, and relatively small, while the elasticity to gross domestic product (GDP) is positive, significant, and relatively large; and ii) average customs duties do not have a significant impact on the intensive margin but significantly and positively affect the probability of trade. We discuss this last result and correct the endogeneity bias using tax revenues of importing countries in percentage of GDP as an instrument. (JEL Classifications: F10, F14) 2017 2024-06-21T09:25:13Z 2024-06-21T09:25:13Z Journal Article https://hdl.handle.net/10568/148615 en Cambridge University Press Bouët, Antoine; Emlinger, Charlotte; and Lamani, Viola. 2017. What determines exports of luxury products? The case of cognac. Journal of Wine Economics 12 (1): 37-58: https://www.cambridge.org/core/journals/journal-of-wine-economics/article/what-determines-exports-of-luxury-products-the-case-of-cognac/92375F37FA91ABBBCE2098B7314561CE |
| spellingShingle | wealth exports cognac gravity data viticulture international trade Bouët, Antoine Emlinger, Charlotte Lamani, Viola What determines exports of luxury products? The case of cognac |
| title | What determines exports of luxury products? The case of cognac |
| title_full | What determines exports of luxury products? The case of cognac |
| title_fullStr | What determines exports of luxury products? The case of cognac |
| title_full_unstemmed | What determines exports of luxury products? The case of cognac |
| title_short | What determines exports of luxury products? The case of cognac |
| title_sort | what determines exports of luxury products the case of cognac |
| topic | wealth exports cognac gravity data viticulture international trade |
| url | https://hdl.handle.net/10568/148615 |
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