Fig. A.12.

Impact of the Chinese lockdown on firm-level imports: By transport mode. Notes: The figure shows the dynamics of imports before and after the Chinese lockdown, for treated firms in comparison with the control group. The estimated equation reads:$lnImport{s}_{\mathit{ft}}={\sum }_{l=-4}^5{\beta }^{l}Treate{d}_f\times Tim{e}_{\mathit{lt}}\times (1-Ai{r}_f)$ $+{\sum }_{l=-4}^5{\gamma }^{l}Treate{d}_f\times Tim{e}_{\mathit{lt}}\times Ai{r}_f+F{E}_f+F{E}_t+{\epsilon }_{\mathit{ft}}$ with $Tim{e}_{\mathit{lt}}$ a dummy equal to one l periods before/after the shock and $Ai{r}_f$ equals to one if the firm uses air transport for at least 25% of its imports from China before the shock. Standard errors are clustered at the firm level. Confidence intervals are defined at 5%