Békés, Gábor; Altomonte, Carlo - 2009
We exploit a panel dataset of Hungarian firms merged with product-level trade data for the period 1992-2003 to …-selection effects of the most productive firms induced by the existence of heterogeneous sunk costs of trade, for both importers and … exporters. We relate these sunk costs of trade to the relationship-specific nature of the trade activities, entailing a certain …