Tesis para optar al grado de Magíster en Economía / This paper studies the role of productivity on determining which plants exit during the
last two crises in the Chilean economy. Using data on manufacturing plants from 1995 to
2011, I find that the process of less efficient plants exiting accentuated during the Asian
Crisis. This accentuation is called cleansing effect, which is what creative-destruction theories
would predict during an economic downturn. However, I find that during the Great
Recession in Chile this process attenuated, i.e. productivity is less important in determining
which plants exit the market. The mechanism behind this attenuation is the exposition to
international competition faced by sectors. To further understand this, I use Customs data to
get indirect evidence to support the idea that sectors more vulnerable also had trade partners
that shrunk the most their international demand, and hence were more severely affected by
the crisis, so more likely to exit.
| Identifer | oai:union.ndltd.org:UCHILE/oai:repositorio.uchile.cl:2250/138664 |
| Date | 02 1900 |
| Creators | Rojas Olivares, Marco I. |
| Contributors | De Gregorio, José, Escuela de Postgrado, Economía y Negocios |
| Publisher | Universidad de Chile |
| Source Sets | Universidad de Chile |
| Language | English |
| Detected Language | English |
| Type | Tesis |
| Rights | Atribución-NoComercial-SinDerivadas 3.0 Chile, http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ |
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