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Exports, sunk costs and financial restrictions in Argentina during the 1990s

Author

Listed:
  • Paula Español

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

This paper examines firms' export decisions in Argentina during the 1990s. Using a sample of 1600 Argentine industrial firms with information for the years 1992, 1996, 1998 and 2001, we test which factors affect the probability of entering foreign markets. We focus on the role of sunk costs and the access to financial markets as key determinants of firms' export decisions. The estimation of a non-linear binary variable model using export prior experience and explicit sunk costs variables confirms self-selection hypothesis on export markets participation. Results also suggest that firm-specific characteristics are significant to explain export decisions, particularly firm's access to the financial system

Suggested Citation

  • Paula Español, 2007. "Exports, sunk costs and financial restrictions in Argentina during the 1990s," PSE Working Papers halshs-00588319, HAL.
    • Handle: RePEc:hal:psewpa:halshs-00588319
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00588319
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    File URL: https://shs.hal.science/halshs-00588319/document
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