Fig. 1.

Dynamics of COVID-19 and exports depending on product resilience.

Notes: The figure plots estimates of the equation $Y_{eipt}={\sum }_{q=1}^5{\gamma }_q\mathit{covid}\text{\_}{\mathit{incid}}_{et-n}\ast X_p\ast I_q+k_{eip}+{\theta }_{et}+{\pi }_{it}+{\varepsilon }_{eipt}$ where $I_q$ is an indicator for the quadrimester in 2020–2021. Robust standard errors clustered by exporting country and broad sector used. $\ast \ast \ast$, $\ast \ast$, and $\ast$ indicate significance at the 1, 5 and 10 percent levels respectively.