There are several arguments in the literature regarding that more open economies would grow faster in the long term. Nevertheless, the channels through which openness increases growth have not been clearly identified in empirical analysis. In this article, we study if outward orientation...

This paper addresses the way optimal cash holdings decisions may be affected in episodes of adverse liquidity shocks. Motivated by the recent financial crisis, we are particularly interested in understanding how firm characteristics can explain differences in the adjustment speed to desired cash...

Using a large dataset of countries during the last forty years, this paper analyzes the main determinants of export diversification. We explore the role of several factors and we use three different indicators of export diversification. We find robust evidence across specifications and...

Using a rich dataset of Chilean exporters, we analyze several issues related to the relationship between entry into export markets and product quality. We find that every year a large number of new exporting relationships are initiated, with either new firms or existent ones that begin...

In this paper, we analyze the changes in the Chilean economy specialization patterns mainly in the period of fastest economic growth and taking into account its relative abundance of productive factors. There are three important findings in this paper that are relevant for natural resources...

China´s import penetration in Chilean markets is higher in unskilled-labor intensive sectors as predicted by traditional endowment-based theories of comparative advantage. However, there is also evidence of within-industry specialization. In particular, high-income countries receive higher...

The increasing importance of China in the world trade raises important questions on its impact on importing countries. This paper studies how import competition from China has affected wages in the Chilean Manufacturing Industry. Using plant-level data for the period 1996-2005, we find that...

We use detailed Chilean plant-level data from 1990 to 2000 to study the impact of Chinese import competition in manufacturing industries. We study whether China’s imports have been associated with a downsizing of manufacturing plants or whether firms have escaped Chinese competition through...