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Export markets: substitutes, complements, or independent?

Author

Listed:
  • Mari José Aranguren

    (Orkestra-Deusto and Deusto Business School, University of Deusto, Camino de Mundaiz 50, 20012 Donostia - San Sebastián (Spain))

  • Sergi Juan de Lucio

    (Universidad Antonio de Nebrija and Universidad de Alcalá. Pza. San Diego, s/n, 28801, Alcalá de Henares (Spain))

  • Raúl Mínguez

    (Universidad Antonio de Nebrija. Calle de Santa Cruz de Marcenado, 27, 28015, Madrid (Spain))

  • Asier Minondo

    (Corresponding author. Deusto Business School, University of Deusto, Camino de Mundaiz 50, 20012 Donostia - San Sebastián (Spain))

  • Francisco Requena

    (Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain))

Abstract

Using a large sample of export transactions in Spain over the period 2010-2017, we explore whether firms treat export markets as substitutes, complements, or independent. We find that an exogenous change in revenue in a firm's top export destination does not change its revenue in other destinations. A firm does not have either a larger probability to increase the number of export destinations when it experiences an exogenous drop in revenue in its top export destination. These results suggest that a shock in firms' top export market does not affect their decisions in other export markets.

Suggested Citation

  • Mari José Aranguren & Sergi Juan de Lucio & Raúl Mínguez & Asier Minondo & Francisco Requena, 2019. "Export markets: substitutes, complements, or independent?," Working Papers 1918, Department of Applied Economics II, Universidad de Valencia.
  • Handle: RePEc:eec:wpaper:1918
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    File URL: ftp://147.156.210.157/RePEc/pdf/eec_1918.pdf
    File Function: First version, 2019
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    More about this item

    Keywords

    exports; Spain; manufacturing;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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