Information Spillovers and the Choice of Export Destination: A Multinomial Logit Analysis of Spanish Young SMEs |
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Authors: | Francisco Requena Silvente Juana Castillo Giménez |
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Institution: | (1) Departmento de Economía Aplicada II (Estructura Económica), Facultad de Ciencias Económicas y Empresariales, Av.de los Naranjos s/n, Edificio Departamental Oriental, University of Valencia, 46022 Valencia, Spain |
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Abstract: | Does having more firms around exporting to a particular destination improve the chances of exporting to that destination (e.g. through information spillovers)? We answer this question implementing a multinomial logit model of whether a firm exports to a particular country. To identify the source of information spillovers, we construct indicators of geographical concentration of exporters selling to a specific destination: within industry, multinationals and across industries. In our application with data for Spanish new small sized firms, only within-industry agglomeration of exporting domestic firms significantly affects the probability of small sized firms exporting to the same destination. The significance of localisation economies is robust to a barrage of controls including destination specific characteristics, gravitational factors (distance and level of development), firm heterogeneity (size) and regional differences. |
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Keywords: | export destination information spillovers multinomial logit |
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