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dc.contributor.author
Albornoz, Facundo
dc.contributor.author
Fanelli, Sebastián
dc.contributor.author
Hallak, Juan Carlos
dc.date.available
2020-10-09T20:50:18Z
dc.date.issued
2016-09
dc.identifier.citation
Albornoz, Facundo; Fanelli, Sebastián; Hallak, Juan Carlos; Survival in export markets; Elsevier; Journal of International Economics; 102; 9-2016; 262-281
dc.identifier.issn
1873-0353
dc.identifier.uri
http://hdl.handle.net/11336/115722
dc.description.abstract
This paper explores the determinants of firm survival in export markets. We build an exporter dynamics model where firms need to pay market-specific sunk and fixed costs to operate abroad and where firm export profitability in each foreign market follows a geometric Brownian motion. Firms also differ ex ante by a constant market-specific profitability shifter. We derive the probability of export survival upon entry in a market and show that it increases with the ratio of sunk to fixed costs and is insensitive to the profitability shifters. Also, we show that the survival probability is unaffected by fixed costs if sunk costs are zero. We take the model to the data using firm-level Argentine export information. We find that survival rates decrease with distance, which the model rationalizes with sunk costs that increase with distance proportionally less than fixed costs. Estimated sunk costs are small. In fact, a counterfactual exercise shows that removing those costs increases aggregate exports by less than 1.5%. Finally, we also find that survival increases with a firm's export experience. Analogously to distance, the model's implication of this empirical result is that experience reduces sunk costs proportionally less than fixed costs.
dc.format
application/pdf
dc.language.iso
eng
dc.publisher
Elsevier
dc.rights
info:eu-repo/semantics/openAccess
dc.rights.uri
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.subject
EXPORT DYNAMICS
dc.subject
FIRM HETEROGENEITY
dc.subject
FIXED AND SUNK COSTS
dc.subject
GEOMETRIC BROWNIAN MOTION
dc.subject
PRODUCTIVITY
dc.subject
SURVIVAL
dc.subject.classification
Economía, Econometría
dc.subject.classification
Economía y Negocios
dc.subject.classification
CIENCIAS SOCIALES
dc.title
Survival in export markets
dc.type
info:eu-repo/semantics/article
dc.type
info:ar-repo/semantics/artículo
dc.type
info:eu-repo/semantics/publishedVersion
dc.date.updated
2020-10-09T15:53:33Z
dc.identifier.eissn
0022-1996
dc.journal.volume
102
dc.journal.pagination
262-281
dc.journal.pais
Países Bajos
dc.description.fil
Fil: Albornoz, Facundo. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. University of Nottingham; Estados Unidos
dc.description.fil
Fil: Fanelli, Sebastián. Massachusetts Institute of Technology; Estados Unidos
dc.description.fil
Fil: Hallak, Juan Carlos. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina. Universidad de San Andrés; Argentina. Ministerio de Industria; Argentina
dc.journal.title
Journal of International Economics
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/url/https://linkinghub.elsevier.com/retrieve/pii/S0022199616300666
dc.relation.alternativeid
info:eu-repo/semantics/altIdentifier/doi/http://dx.doi.org/10.1016/j.jinteco.2016.05.003
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