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The Internationalisation of Spanish Firms

Author

Listed:
  • 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.

Suggested Citation

  • Mónica Correa Lopez & Rafael Domenech, 2012. "The Internationalisation of Spanish Firms," Working Papers 1230, BBVA Bank, Economic Research Department.
  • Handle: RePEc:bbv:wpaper:1230
    as

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    References listed on IDEAS

    as
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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 2015-03-11 02:16:11

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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.

    More about this item

    Keywords

    price competitiveness; export quotas; export companies;

    JEL classification:

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

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