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Export markets: substitutes, complements, or independent?

Mari José Aranguren, Juan de Lucio (), Raúl Mínguez, Asier Minondo () and Francisco Requena Silvente ()
Additional contact information
Mari José Aranguren: Orkestra-Deusto and Deusto Business School, University of Deusto, Camino de Mundaiz 50, 20012 Donostia - San Sebastián (Spain)
Raúl Mínguez: Universidad Antonio de Nebrija. Calle de Santa Cruz de Marcenado, 27, 28015, Madrid (Spain)

No 1918, Working Papers from Department of Applied Economics II, Universidad de Valencia

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.

Keywords: exports; Spain; manufacturing (search for similar items in EconPapers)
JEL-codes: F10 F14 (search for similar items in EconPapers)
Date: 2019-12
New Economics Papers: this item is included in nep-eur and nep-int
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Journal Article: Export markets: substitutes, complements, or independent? (2021) Downloads
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