Post-Crisis Financiera y Expansión de las Exportaciones: Micro-Evidencia para Chile

This paper analyzes the performance of Chilean exporting firms during the period after the financial crisis of 2008 and 2009. After the crisis, world imports increased sustainably, which was used by Chilean firms in particular and the country in general. Specifically, larger firms, and those that had lower external financing needs, were benefited the most from the new international context, increasing their exports to markets that already exported before and recovering the markets they lost during the crisis. While the recovery is mainly due to the intensive margin, the present work shows that the larger firms also increased their export destinations, so that recovery takes place in the 2 types of margins. Finally, in a survival analysis, the results indicate that larger firms needed less time to regain its level of exports that have before the financial crisis.