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Location, profitability, and international trade liberalization in European textile-clothing firms

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  • Puig, Francisco
  • Debón, Ana
  • Cantarero, Santiago
  • Marques, Helena

Abstract

In the European traditional manufacturing sector (TMS), there is a vigorous debate concerning the real impact of international trade liberalization on firm profitability. Based on firm-level data from five European countries, we analyze how location, productive subsector, and firm characteristics are associated with the profitability of the European textile-clothing industry in the pre- and post-trade liberalization period. Our results reveal that the externalities derived from geographical proximity were diluted after international trade liberalization. Moreover, larger companies and those that focus on high value-added products, as represented by Northern European firms, show a stronger association with profitability. Accordingly, this observation calls into question the future of some TMS activities in a globalized world. Therefore, manufacturing strategies and industrial policies should be location- and context-specific.

Suggested Citation

  • Puig, Francisco & Debón, Ana & Cantarero, Santiago & Marques, Helena, 2023. "Location, profitability, and international trade liberalization in European textile-clothing firms," Economic Modelling, Elsevier, vol. 129(C).
    • Handle: RePEc:eee:ecmode:v:129:y:2023:i:c:s0264999323003759
    DOI: 10.1016/j.econmod.2023.106563
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    More about this item

    Keywords

    Liberalization; Location; Manufacturing strategies; European firms; Textile-clothing industry;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • L67 - Industrial Organization - - Industry Studies: Manufacturing - - - Other Consumer Nondurables: Clothing, Textiles, Shoes, and Leather Goods; Household Goods; Sports Equipment
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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