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The Internationalisation of Spanish Firms

Author Info

Listed author(s):
  • Mónica Correa Lopez
  • Rafael Domenech

Abstract

This paper shows that the variation in the world export share and the internationalisation process that the Spanish economy has experienced since the establishment of EMU have been determined by a broad set of factors that go beyond the evolution of international relative prices. Firms’ decisions on factor inputs (company size, investment in physical capital, quality of human capital, or R&D expenditure and technology adoption) and on market and financial strategies (product diversification, reliance on non-banking finance or expansion via outward foreign direct investment) have shaped the internationalisation process. Given the variety of determinants, economic policy must be multidimensional and have a dual objective: to improve the functioning of the markets for factor inputs (capital and labour markets, access to finance and to new production technologies and innovations) and to foster competition in the markets for goods and services.

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File URL: http://www.bbvaresearch.com/wp-content/uploads/migrados/WP_1230_tcm348-363370.pdf
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Paper provided by BBVA Bank, Economic Research Department in its series Working Papers with number 1230.

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Length: 27 pages
Date of creation: Dec 2012
Handle: RePEc:bbv:wpaper:1230
Contact details of provider: Web page: https://www.bbvaresearch.com/

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Keywords: price competitiveness; export quotas; export companies;

Find related papers by JEL classification:

  • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
  • F14 - International Economics - - Trade - - - Empirical Studies of Trade

This paper has been announced in the following NEP Reports:

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  12. José E. Boscá & Rafael Doménech & Javier Ferri, 2013. "Fiscal Devaluations in EMU," Hacienda Pública Española, IEF, vol. 206(3), pages 27-56, September.
  13. Minetti, Raoul & Zhu, Susan Chun, 2011. "Credit constraints and firm export: Microeconomic evidence from Italy," Journal of International Economics, Elsevier, vol. 83(2), pages 109-125, March.
  14. Chang-Tai Hsieh & Peter J. Klenow, 2009. "Misallocation and Manufacturing TFP in China and India," The Quarterly Journal of Economics, Oxford University Press, vol. 124(4), pages 1403-1448.
  15. Manova, Kalina, 2008. "Credit constraints, equity market liberalizations and international trade," Journal of International Economics, Elsevier, vol. 76(1), pages 33-47, September.
  16. di Giovanni, Julian & Levchenko, Andrei A., 2013. "Firm entry, trade, and welfare in Zipf's world," Journal of International Economics, Elsevier, vol. 89(2), pages 283-296.
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  18. Greenaway, David & Guariglia, Alessandra & Kneller, Richard, 2007. "Financial factors and exporting decisions," Journal of International Economics, Elsevier, vol. 73(2), pages 377-395, November.
  19. Obstfeld, Maurice, 2012. "Financial flows, financial crises, and global imbalances," Journal of International Money and Finance, Elsevier, vol. 31(3), pages 469-480.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Comment les exportations réagissent-elles à la compétitivité-coût ?
    by Martin Anota in D'un champ l'autre on 2015-03-10 21:16:11
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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Cited by:

  1. Stefaan Decramer & Catherine Fuss & Jozef Konings, 2016. "How Do Exporters React to Changes in Cost Competitiveness?," The World Economy, Wiley Blackwell, vol. 39(10), pages 1558-1583, October.

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