Export Entrepreneurship and Trade Structure in Latin America during Good and Bad Times
The authors use a new dataset on export transactions for a large set of Latin American and Caribbean and comparator countries to assess the extent of "export entrepreneurship" during periods of fast export growth (2005-2007) and depressed...
| Main Authors: | , , |
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/04/17595171/export-entrepreneurship-trade-structure-latin-america-during-good-bad-times-export-entrepreneurship-trade-structure-latin-america-during-good-bad-times http://hdl.handle.net/10986/15549 |
| Summary: | The authors use a new dataset on export
transactions for a large set of Latin American and Caribbean
and comparator countries to assess the extent of
"export entrepreneurship" during periods of fast
export growth (2005-2007) and depressed external demand
(2008-2009). Export entrepreneurship is equated with the
extensive margin of exports, namely the advent of new
exporting firms, new export products, and new export market
destinations. The main findings are: (1) annual exporter
entry, exit, and survival rates in Latin America and the
Caribbean are quite similar to what is observed in other
countries, and entry rates across sectors are quite similar
but survival rates appear to be highest in agriculture; (2)
the relative size of entrants into export markets (relative
to incumbents) tended to be lower for natural
resource-abundant countries during 2005-2007, but less so
during the crisis years of 2008-2009; (3) entry rates tend
to be lower in sectors in which a country has revealed
comparative advantage, however, exit rates and survival
rates of new exporters are higher in those sectors; and (4)
the low growth of exports during the global recession of
2008-2009 in Latin America and the Caribbean was due to
lower growth in exports of incumbent firms'
pre-existing products and destinations, while new products
and destinations tended to attenuate the recession's
effects. Overall, the data suggest that the Latin American
and Caribbean region appears to be no less entrepreneurial
in terms of the extensive margins of exports than comparator countries. |
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