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Economic performance and international trade engagement: the case of Portuguese manufacturing firms

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  • Armando Silva
  • Oscar Afonso

    ()

  • Ana Africano

Abstract

By combining economic and financial data for Portuguese manufacturing firms with data on their exports and imports, we uncover some aspects of the relationship between international trade engagement and firms’ performances. In line with recent theoretical and empirical developments in the international trade literature: (i) we testify that Portuguese international trade is highly concentrated, especially on the import side, and both in inter- and intra-sector terms; (ii) we corroborate previous studies and theses according to which two-way traders outperform only importers, only exporters and above all domestic firms; (iii) we find that the greater the diversification of markets and goods (especially with regard to imports), the better the performance achieved by internationalised firms; (iv) we notice that the higher the intensity of firms’ international trade (especially imports), the better their performance; (v) we also present evidence that destination markets for exports and origin markets for imports are also important in explaining firm’s performance. Copyright Springer-Verlag 2013

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File URL: http://hdl.handle.net/10.1007/s10368-012-0221-8
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Bibliographic Info

Article provided by Springer in its journal International Economics and Economic Policy.

Volume (Year): 10 (2013)
Issue (Month): 4 (December)
Pages: 521-547

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Handle: RePEc:kap:iecepo:v:10:y:2013:i:4:p:521-547

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Web page: http://www.springerlink.com/link.asp?id=111059

Related research

Keywords: International trade; Firm performance; Diversification; JEL classification ; C23; F14; F23;

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References

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  1. Thomas Chaney, 2008. "Distorted Gravity: The Intensive and Extensive Margins of International Trade," American Economic Review, American Economic Association, vol. 98(4), pages 1707-21, September.
  2. Andrew.B Bernard & J. Bradford Jensen & Stephen Redding & Peter K. Schott, 2007. "Firms in international trade," LSE Research Online Documents on Economics 3682, London School of Economics and Political Science, LSE Library.
  3. Lawless, Martina, 2007. "Firm Export Dynamics and the Geography of Trade," Research Technical Papers 2/RT/07, Central Bank of Ireland.
  4. Andrew B. Bernard & Jonathan Eaton & J. Bradford Jensen & Samuel Kortum, 2003. "Plants and Productivity in International Trade," American Economic Review, American Economic Association, vol. 93(4), pages 1268-1290, September.
  5. Mirabelle Muûls & Mauro Pisu, 2007. "Imports and Exports at the Level of the Firm: Evidence from Belgium," CEP Discussion Papers dp0801, Centre for Economic Performance, LSE.
  6. Richard Blundell & Stephen Bond, 2000. "GMM Estimation with persistent panel data: an application to production functions," Econometric Reviews, Taylor & Francis Journals, vol. 19(3), pages 321-340.
  7. Melitz, Marc J, 2002. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," CEPR Discussion Papers 3381, C.E.P.R. Discussion Papers.
  8. Fergal McCann, 2009. "Importing, Exporting and Productivity in Irish Manufacturing," Working Papers 200922, School Of Economics, University College Dublin.
  9. Gábor Békés & Péter Harasztosi & Balázs Muraközy, 2009. "Firms and Products in International Trade: Data and Patterns for Hungary," CeFiG Working Papers 9, Center for Firms in the Global Economy, revised 12 Oct 2009.
  10. Christopher F Baum, 2006. "An Introduction to Modern Econometrics using Stata," Stata Press books, StataCorp LP, number imeus, April.
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Citations

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Cited by:
  1. Nakhoda, Aadil, 2012. "The influence of financial leverage of firms on their international trading activities," MPRA Paper 35765, University Library of Munich, Germany.
  2. Armando Silva & Óscar Afonso & Ana Paula Africano, 2010. "Do Portuguese manufacturing firms self select to exports?," FEP Working Papers 371, Universidade do Porto, Faculdade de Economia do Porto.
  3. Joachim Wagner, 2012. "International trade and firm performance: a survey of empirical studies since 2006," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 148(2), pages 235-267, June.
  4. Joachim Wagner, 2012. "Trading many goods with many countries: Exporters and importers from German manufacturing industries," Working Paper Series in Economics 243, University of Lüneburg, Institute of Economics.
  5. Neil Foster-McGregor & Anders Isaksson & Florian Kaulich, 2013. "Importing, Productivity and Absorptive Capacity in Sub-Saharan African Manufacturing Firms," wiiw Working Papers 105, The Vienna Institute for International Economic Studies, wiiw.

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