Microeconomic Adjustments During an Export Boom: Argentina, 2003–1

20 Pages Posted: 17 Sep 2018

See all articles by Facundo Albornoz

Facundo Albornoz

University of Birmingham

Ezequiel García Lembergman

University of California, Berkeley

Leticia Juarez

University of Michigan at Ann Arbor

Date Written: August 2018

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.

Suggested Citation

Albornoz, Facundo and García Lembergman, Ezequiel and Juarez, Leticia, Microeconomic Adjustments During an Export Boom: Argentina, 2003–1 (August 2018). The World Economy, Vol. 41, Issue 8, pp. 2129-2148, 2018. Available at SSRN: https://ssrn.com/abstract=3247842 or http://dx.doi.org/10.1111/twec.12653

Facundo Albornoz (Contact Author)

University of Birmingham ( email )

Economics Department
Birmingham, B15 2TT
United Kingdom

Ezequiel García Lembergman

University of California, Berkeley

310 Barrows Hall
Berkeley, CA 94720
United States

Leticia Juarez

University of Michigan at Ann Arbor

500 S. State Street
Ann Arbor, MI 48109
United States

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