文档介绍：Ent~etpqota~l 'Epgovct / Operational Research. An Intemational Journal. , No 1 (2007), -135
Determinants of Export Behavior in the Greek
Manufacturing Sector
Theodore Papadogonas l, Fotini Voulgaris 2, e Agiomirgianakis 3
1Economics Research Dept.,Bank of Greece
2Associate Professor, TEI of Crete, Greece
3Associate Professor, Hellenic Open University
Abstract
This paper examines the determinants of export performance of firms in the Greek
manufacturing industry, using cross-sectional data from 1652 firms in 1999 and a Tobit
regression model. The study finds that firms that have larger size, lower unit labor cost and
low capital to labor ratio have a higher propensity to export, confirming the fact that in
Greece, which has the second lowest capital to labor ratio among the EU-15 members, export
activities are concentrated among firms with low capital intensity, exactly as the theory of
competitive advantage would predict.
Keywords: Export behavior, Industry study, Greek manufacturing
1. Introduction
Exports play an important role to the development and growth of an economy.
Theoretical and empirical studies on factors affecting exports imply that exports
mitigate the problems of many economies. The ratio of (exports+imports)/GDP has
been considered as a main determinant of economic growth. Exports provide access
to foreign markets and economies of scale effects, such as lower production costs and
higher productivity. Liberalization of trade is found to affect positively exports and
the increase of foreign direct investment in a country. Dritsaki et al. (2004) found a
bilateral causal relationship between exports and economic growth in Greece and a
unidirectional causal relationship between foreign direct investment and economic
growth and foreign direct investment and exports.
Greece is a country with a shrinking manufacturing sector and an insisting trade
deficit. Exports of goods and service