The Internationalisation of Spanish Firms

Mónica Correa Lopez and Rafael Domenech
Authors registered in the RePEc Author Service: Monica Correa-Lopez

No 1230, Working Papers from BBVA Bank, Economic Research Department

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.

Keywords: price competitiveness; export quotas; export companies (search for similar items in EconPapers)
JEL-codes: D22 F14 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2012-12
New Economics Papers: this item is included in nep-cse and nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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