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Microeconomic adjustments during an export boom: Argentina, 2003-11

Albornoz, Facundo; García Lembergman, Ezequiel; Juarez, Leticia

Authors

Facundo Albornoz

Ezequiel García Lembergman

Leticia Juarez



Abstract

This paper examines Argentine exports at the firm level between 2003 and 2011, a period of exceptional and sustained export growth. While at the product level, the pattern of specialisation barely changed, exporters exhibit new dynamics in international markets: firms not only expanded sales abroad by increasing their exports in existing markets, but also by entering into new destinations and adding new products. That is, new export strategies allowed exporters achieve greater resistance to the variations in the macroeconomic environment. We find that the importance of the different export margins changes overtime: while the currency is depreciated, the intensive margin explains most of export growth, whereas the subextensive and extensive margins become the main source of export growth once the currency appreciates. We also uncover a strong complementarity between import and export growth.

Journal Article Type Article
Publication Date Aug 31, 2018
Journal The World Economy
Print ISSN 0378-5920
Publisher Wiley
Peer Reviewed Peer Reviewed
Volume 41
Issue 8
Pages 2129-2148
APA6 Citation Albornoz, F., GarcĂ­a Lembergman, E., & Juarez, L. (2018). Microeconomic adjustments during an export boom: Argentina, 2003-11. World Economy, 41(8), (2129-2148). doi:10.1111/twec.12653. ISSN 0378-5920
DOI https://doi.org/10.1111/twec.12653
Publisher URL https://onlinelibrary.wiley.com/doi/abs/10.1111/twec.12653

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