Máñez, Juan A.; Llopis, Juan A. Sanchis; Rochina, … - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2004
This paper tests the sunk costs explanation for hysteresis in exports using a sample of Spanish manufacturing firms for the period 1990-2000. The data are drawn from the Spanish Encuesta sobre Estrategias Empresariales. To obtain consistent estimates for sunk costs, we control for all other...