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Success and Failure of African Exporters

ADVERSE SELECTION AVERAGE VARIABLE COSTS BANDWIDTH BANK LOANS BANK POLICY BILATERAL TRADE BUYER BUYERS CAPABILITIES CAPITAL EXPENDITURE CASH FLOW CD COLLATERAL COMPANY COMPARATIVE ADVANTAGE COMPETITIVE ADVANTAGE COMPETITORS CONFIDENTIALITY CONSUMERS CREDIT CONSTRAINTS CUSTOMS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DIVERSIFICATION DOMESTIC MARKET ECONOMIC DEVELOPMENT ECONOMICS RESEARCH ENTREPRENEURS EQUIPMENT EXPANSION EXPENDITURE EXPORT GROWTH EXPORT MARKET EXPORT MARKETS EXPORT PROMOTION EXPORTER EXPORTERS EXPORTS EXTERNAL FINANCE EXTERNALITIES FACE VALUE FINANCIAL CONSTRAINTS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SUPPORT FINISHED PRODUCT FIRMS FIXED COSTS FOREIGN MARKETS GDP GLOBAL ECONOMY GLOBALIZATION IDS INCOME INCOME LEVELS INFORMATION ASYMMETRIES INFORMATION ON PRODUCTS INFORMATIONAL ASYMMETRIES INTERNATIONAL BANK INTERNATIONAL ECONOMICS INTERNATIONAL MARKETS INTERNATIONAL TRADE LETTERS OF CREDIT MANUFACTURING MARGINAL PRODUCTS MARKET ECONOMY MARKET ENTRY MARKET ENTRY COSTS MARKET FAILURE MARKET FAILURES MARKET OPPORTUNITIES MARKET VALUE MARKETING MIDDLE INCOME COUNTRY MORAL HAZARD NETWORKS NEW MARKETS OPEN ACCESS OUTSOURCING PARTY PORTFOLIO PORTFOLIOS POSITIVE EXTERNALITY PRICE COMPETITION PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT PRODUCT DIFFERENTIATION PRODUCT INFORMATION PRODUCT QUALITY PRODUCTIVITY PUBLIC FUNDS RAW DATA RELIABILITY RESULT RESULTS RISK MANAGEMENT SALE SALES SUBSTITUTES SUNK COSTS SUPPLIERS TANGIBLE ASSETS TAX TRADE FAIR TRADE FAIRS TRANSACTION TRANSACTION VOLUMES TRUST FUND TURNOVER VALUE CHAIN VOLATILITY WEB WORLD TRADE
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Africa | Africa | Africa
2012-03-19T18:02:07Z | 2012-03-19T18:02:07Z | 2011-05-01

Using a novel dataset with transactions level exports data from four African countries (Malawi, Mali, Senegal and Tanzania), this paper uncovers evidence of a high degree of experimentation at the extensive margin associated with low survival rates, consistent with high and middle income country evidence. Consequently, the authors focus on the questions of what determines success and survival beyond the first year and find that survival probability rises with the number of firms exporting the same product to the same destination from the same country, pointing towards the existence of cross-firm synergies. Accordingly the evidence is consistent with the hypothesis that those synergies may be driven by information spillovers. More intuitively and consistently with multi-product firms models, the analysis also finds that firms more diversified in terms of products, but even more in terms of markets, are more likely to be successful and survive beyond the first year.

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