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Determinants of Portuguese Exports to Spain: An analysis at the enterprise level

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  • Joana C. Lima
  • Horácio C. Faustino

Abstract

This study examines the evolution of Portuguese exports to Spain and its determinants in the period 2004-2008, based on a sample of the 97 largest exporters to Spain. The study uses various economic and financial indicators to characterize these companies and comparison is made between the sample's five largest companies and five of the small and medium enterprises (SMEs). The analysis highlights the geographic concentration of companies in the districts of Porto and Aveiro and the better performance of large enterprises in terms of productivity, return on equity and average salary compared to SMEs. The econometric study, using panel data, considers as theoretically relevant explanatory variables the gross added value, net income, equity, the size of the company, the remuneration and expenditure onresearch and development (R&D). The results of the estimated model confirm the positive influence of these variables on the variation of exports, although the expenditure on R&D proved to be statistically insignificant.

Suggested Citation

  • Joana C. Lima & Horácio C. Faustino, 2010. "Determinants of Portuguese Exports to Spain: An analysis at the enterprise level," Working Papers Department of Economics 2010/07, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    • Handle: RePEc:ise:isegwp:wp72010
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    References listed on IDEAS

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    Keywords

    enterprises; exports; panel data; economic and financial indicators; Portugal; Spain.;
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