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The Micro Dynamic of Exporting-Evidence from French Firms

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  • Ines Buono

    ()

  • Harald Fadinger

    ()

  • Stefan Berger

    ()

Abstract

This paper describes the dynamics of rms' exports to di erent countries. Using a panel of almost 19,000 French exporters, we de ne an export-relation as an observed positive export ow from a French rm to a destination. We establish the following facts: 1. There is a great deal of dynamics in rms' export relations that washes out at a more aggregate level; 2. Export values shipped by individual rms to speci c destinations are very volatile: most of the changes occur within established export relations (intensive margin), with new relations or relations that are terminated (extensive margin)contributing little to adjustments in export value at rm level ; 3. Export ows within a newly-created relation involve very small values, often inferior to 1000 euros; 4. Export-relations are also very volatile. Moreover, from year to year single rms create and destroy relations simultaneously, and countries are simultaneously involved in the formation and termination of relations; 5. Formation or termination of export relations and changes in export values are explained mostly by rm-country speci c shocks; 6. The share of relations continued from one year to the next is correlated with country characteristics: it is higher in bigger and closer markets. We discuss how those ndings could be related to di erent kinds of heterogeneous rm models and to a relation-speci c trade model, arguing that the second one seems to t more naturally all the documented facts.

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Paper provided by University of Vienna, Department of Economics in its series Vienna Economics Papers with number 0901.

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Date of creation: Dec 2008
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Handle: RePEc:vie:viennp:0901

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Web page: http://www.univie.ac.at/vwl

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  1. Jonathan Eaton, Marcela Eslava, Maurice Kugler,James Tybout, 1970. "Export Dynamics in Colombia: Firm-Level Evidence," Working Papers eg0036, Wilfrid Laurier University, Department of Economics, revised 1970.
  2. Jonathan Eaton & Samuel Kortum & Francis Kramarz, 2008. "An Anatomy of International Trade: Evidence from French Firms," NBER Working Papers 14610, National Bureau of Economic Research, Inc.
  3. Aeberhardt, Romain & Buono, Ines & Fadinger, Harald, 2014. "Learning, incomplete contracts and export dynamics: Theory and evidence from French firms," European Economic Review, Elsevier, vol. 68(C), pages 219-249.
  4. Facundo Albornoz & Héctor Calvo-Pardo & Gregory Corcos & Emanuel Ornelas, 2010. "Sequential exporting," LSE Research Online Documents on Economics 28724, London School of Economics and Political Science, LSE Library.
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  17. Dixit, Avinash K, 1989. "Entry and Exit Decisions under Uncertainty," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 620-38, June.
  18. Roberts, Mark J & Tybout, James R, 1997. "The Decision to Export in Colombia: An Empirical Model of Entry with Sunk Costs," American Economic Review, American Economic Association, vol. 87(4), pages 545-64, September.
  19. Josep M Vilarrubia & Rubén Segura-Cayuela, 2008. "Uncertainty and entry into export markets," 2008 Meeting Papers 661, Society for Economic Dynamics.
  20. Bricongne, Jean-Charles & Fontagné, Lionel & Gaulier, Guillaume & Taglioni, Daria & Vicard, Vincent, 2010. "Exports and sectoral financial dependence: evidence on French firms during the great global crisis," Working Paper Series 1227, European Central Bank.
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