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Raúl Mínguez

Publications and source records attributed to Raúl Mínguez.

3 recordsLinked to original sources

How firms export: product assignment, export platforms, and hybrid firms

Firms differ in manufacturing and foreign commercialization capabilities. We study how these differences organize exporting through multi-product export platforms. Products and increasingly costly platform slots form a transferable-utility assignment market. Complementarity between manufacturing and commercial capability generates positive assortative matching, while convex organizational costs determine platform scope. The equilibrium endogenously generates the four exporter types observed in firm-level trade data: direct exporters, indirect exporters, pure intermediaries, and hybrid firms. Lower contracting costs expand intermediated trade, stronger scope diseconomies fragment portfolios, and trade liberalization improves match quality. Intermediation can raise home national income by reallocating commercial capability across products.

econ.GN↗

Reassessing the role of intermediaries in exports

Previous studies conclude that intermediaries account for a large share of exports. Using Spanish firm-level data, we show that many firms classified as intermediaries are either manufacturer-owned export arms that ship their parent firms' products or vertically integrated firms that control design, production, and distribution and predominantly export goods sold under their own brands. Once we exclude these export arms and vertically integrated firms, the share of intermediaries in exports in our sample falls by about 70%. We also show that pure intermediaries differ markedly from export arms and vertically integrated firms along key firm and export dimensions.

econ.GN↗

The increasing share of low-value transactions in international trade

This paper documents a new feature of international trade: the increase in the share of low-value transactions in the total volume of transactions. Using Spanish data, we show that the share of low-value transactions in the total number of transactions increased from 9% to 61% in exports and from 14% to 54% in imports between 1997 and 2023. The increase in the number of low-value trade transactions is explained by the rise of e-commerce and direct-to-customer sales facilitated by online retail platforms, and the fast-fashion strategy followed by clothing firms.

econ.GN↗