Previous experience, experimentation and export survival : Evidence from firm-product-destination level data

This paper explores the role of a firm's product and/or market export experience and experimentation for survival of new product-destination export spells, using firm-level Spanish customs data over the period 1997-2015. Previous research has documented a positive impact of experience on export survival. This paper contributes to the extant literature by unravelling the distinct effect on export survival of ongoing accumulated experience (i.e., from the start of a product-destination export spell), previous product and/or destination-market experience and experimentation (repetition of product-destination relationships). We find that 60% of new product-country export spells end during their first year. Thereafter, the hazard rate remarkably falls with their elapsed duration (i.e., age). Exporting a new product endures a higher risk than entering a new market. Besides, experimentation (repeated product-destination combinations) and previous experience (especially at product rather than at destination level) significantly lower the exit hazard. The results are consistent with previous studies that suggest that sunk costs to enter markets are relatively high, while experimentation and learning are more relevant at product level

La innovación como factor de competitividad de las PYMEs

Las políticas de internacionalización e innovación son frecuentemente consideradas como factores clave para mejorar la competitividad de las empresas, impulsar su crecimiento y el del conjunto de la economía. En este trabajo se analiza la relación entre la actividad exportadora e innovadora de las pymes manufactureras españolas utilizando datos de la Encuesta sobre Estrategias Empresariales para el período 1990-2011. Los resultados muestran una fuerte asociación positiva entre internacionalización e innovación, actividades altamente persistentes. Estos resultados sugieren, de forma tentativa, que las políticas de internacionalización e innovación deberían definirse y aplicarse de forma coordinada o incluso integrada

One swallow does not make a summer : episodes and persistence in high growth

This paper analyzes firms' episodes (spells) of high growth (HG) using a sample of Spanish manufacturing firms observed over two decades. The use of duration models allows us to investigate the following: (i) the probability of experiencing HG episodes, (ii) persistence in HG, and (iii) the determinants of the transitions in and out of the HG state and whether their impact varies over the business cycle. We find that about half of the firms experience at least one HG episode, but they seldom experience more than one. Moreover, high-growth status is rarely repeated due to high first-year selection. Yet, in subsequent years beyond the first one, the hazard rate from HG status falls substantially. These results suggest an "episodic" nature of HG and further allow us to identify two groups of firms characterized by the following: (i) (relatively) long HG spells and short no high-growth (NHG) spells and (ii) short HG spells and long NHG spells. In addition, some firm and market (demand) characteristics increase the probability of becoming an HG firm and enhancing HG persistence. Finally, during the downturn, the role of younger age and smaller size in explaining HG decreases

Does the GATT/WTO promote trade? After all, Rose was right

This paper re-examines the efect of the GATT/WTO on trade using recent econometric developments that allow us estimating structural gravity equations with the Poisson pseudo-maximum likelihood (PPML) estimator on a large dataset that requires computing high-dimensional fxed efects. By doing so, we overcome computational limitations that are present in previous studies. In line with Rose's (Am Econ Rev 94:98-114, 2004) seminal work, we fnd that, unlike regional trade agreements and currency unions, the GATT/WTO accession has not generated positive trade efects. This result is robust to the use of alternative measures of trade fows, across periods and country groups, to changes in the periodicity of the data, when taking into account the GATT/WTO accession dynamics, to controlling for the participation of only one country of the dyad in GATT/WTO, to the consideration of non-member participants, and to the use of alternative datasets. Notwithstanding, we also find that PPML results are sensitive to the defnition of the dependent variable

La duración de las huelgas: evidencia empírica para España

El objetivo de este artículo es analizar empíricamente los determinantes de la duración de las huelgas en España utilizando datos de registro de la Estadística de Huelgas y Cierres Patronales (Ministerio de Trabajo y Asuntos Sociales). Para ello, se estiman modelos de duración. Los resultados muestran que las huelgas duran menos cuanto mayor es el número de trabajadores participantes, si hay varios convenios aplicables a las unidades en huelga, si son huelgas de Comunidad Autónoma, si se trata de huelgas cuyo motivo es la solidaridad, en actividades financieras e inmobiliarias, electricidad, agua y gas, vehículos y material de transporte, industria química y refinerías, hostelería, industria del papel y artes gráficas, educación e investigación, e industria transformadora de metales, si implican a Ceuta, Castilla-León, Castilla-La Mancha, La Rioja, Asturias, Cataluña, Madrid y Andalucía, en general si son posteriores a 1986-1987, y si se producen en el segundo y cuarto trimestre del año. Duran más cuando existen servicios mínimos, se convocan por el sindicato ELA-STV, por otros sindicatos distintos a UGT, CCOO, ELA-STV, INTG, USO y CNT, y por asambleas vecinales y formaciones políticas, cuando obtienen mayor ratio de seguimiento, afectan a una empresa o al sector, el motivo es la negociación colectiva, cuestiones salariales, de organización y sistemas de trabajo y de incumplimiento de acuerdos o normas legales, se producen en el sector privado, en el sector pesquero, y afectan a Extremadura y Cantabria.The aim of this paper is to empirically analyse the determinants of strike duration in Spain using registry data from the Estadística de Huelgas y Cierres Patronales (Spanish Ministry of Labour and Social Affairs). The empirical methodology includes estimation of duration models. The results show that strikes are shorter the higher the number of strikers, in the presence of several applicable agreements to strike units, in Autonomous Community strikes, when the strike motive is solidarity, in financial services and property developer, electricity, water and gas, cars and transport material, chemical and refineries, hotel trade, paper and printing, education and research, and metals transformation, when Ceuta, Castilla-León, Castilla-La Mancha, La Rioja, Asturias, Cataluña, Madrid and Andalucía are involved, in general after 1986-1987, and in the second and fourth quarters of the year. They last longer in the presence of minimum services, when the strike call comes from the ELA-STV union, from unions different to UGT, CCOO, ELA-STV, INTG, USO and CNT, and from neighbourhood assemblies and politic formations, when the support to the strike call is high, if they affect to a firm or a sector, when the strike motive is collective bargaining, related to wages, organization and working conditions, and violations of agreements or legal rules, in the private sector, in the fishing sector, and involving Extremadura and [email protected]; [email protected]

EMU and Trade : A PPML re-assessment with intra-national trade flows

Since Rose's (2000) path-breaking study, a lot of studies have been carried out on the effect of currency unions on trade. Both Rose's striking finding that sharing a currency union more than triples trade between countries and the creation of the euro have propelled an intense debate on this issue and, in particular, about the effect of the Economic and Monetary Union (EMU) on trade. More than 50 papers have examined the effect of EMU on bilateral trade flows given that it is, by far, the most important monetary union. However, so far the results vary greatly across studies and even the most recent articles provide mixed results. Whereas Glick and Rose (2016) and Larch, Wanner, and Yotov (2018) find a positive EMU effect on trade, Mika and Zymek (2018) and Larch, Wanner, Yotov, and Zylkin (2019) provide no evidence of a positive effect on trade. Therefore, the debate is still ongoing

Análisis de competitividad de las exportaciones: un nuevo enfoque shift-share

[email protected] [email protected] [email protected] trabajo utiliza un método de shift-share como herramienta para analizar la evolución de la competitividad exterior de una economía. Frente a otros indicadores tradicionales de competitividad (cuota de mercado, índice de ventaja comparativa revelada), este método ofrece una perspectiva dinámica para la evaluación de la competitividad exterior y permite descender desde niveles agregados (sectores) hasta productos específicos, identificando de este modo el origen de las ventajas-desventajas competitivas de una economía. Se presenta una aplicación para el sector de manufacturas del metal de la Comunidad Valenciana en el período 1996-2006. De este modo se identifican, en el sector referido, los subsectores y productos en los que esta comunidad autónoma obtuvo una ganancia de competitividad

Corruption and International Trade: A Re-assessment with Intra-National Flows

This study re-examines the impact of corruption on international trade accounting for both inter- and intra-national flows in line with the latest advances in the gravity equation literature. Using a wide sample of countries for the period 1995–2017, our results show that the non-inclusion of internal trade flows drastically biases the estimations. Additionally, we find that the negative impact of corruption on trade is reduced, ceteris paribus, in poorer countries. We also find non-linearities, more corrupt countries present a more harmful impact of corruption on trade. Moreover, we perform a general equilibrium analysis to investigate the impact of a given reduction in perceived corruption on a selected group of countries’ economic growth and prices. We find that these effects are far from being negligible, especially when there is a “synchronized” reduction in corruption in most corrupt countries

Entry and exit in a vertically differentiated industry

This paper presents a duopoly model of firm rivalry in a vertically differentiated industry when market dynamics is explicitly accounted for. It shows how the interplay between demand (degree of product differentiation, demand elasticity) and cost (fixed and quality costs) factors determine firms' relative strength when quality is irreversible. The main strategic choices are product quality, price and the timing of entry and exit. Further, firms incur sunk quality costs at time of entry and operating fixed costs of maintaining quality. Although the low quality firm may outlast its rival in the declining phase, both firms wish to be the "quality leader".Entry; Exit; Vertical product differentiation

The Resource-Based Theory of the Firm and Firm Survival

firm survival, resource-based theory, hazard rates, manufacturing, technological opportunity., C41, L1, L26, L60,