Export and import market-specific characteristics |
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Authors: | Francesco Serti Chiara Tomasi |
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Institution: | 1. Department of Economics, University of Alicante, Carretera San Vicente del Raspeig s/n, 03690?, San Vicente del Raspeig, Alicante, Spain 2. Department of Economics, University of Trento, Via Inama 5, 38122?, Trento, Italy 3. LEM, Scuola Superiore S.Anna, Pisa, Italy
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Abstract: | Using a rich firm-level dataset on the Italian manufacturing industry, this paper provides a comprehensive analysis of the role that firms and market characteristics play in shaping firms’ trade activities. We enhance the previous analyses by considering firms’ engagement in international transactions, by focusing on either exports or imports. We show that the determinants of a firm’s export participation and value across countries also drive import behavior. Our research is consistent with the presence of country-specific sunk costs and with a qualitatively similar role of gravity forces and other country attributes on both sides of trading activities. Our evidence, however, militates in favor of a framework where variations in market characteristics have a larger impact on imports than exports. |
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