Showing papers by "James Tybout published in 1985"
TL;DR: In this article, the authors used the financial statements of industrial firms to provide an integrated firm level view of the changes in the Chilean economy during 1977-1981 and found that both real side and financial shocks had major effects on the performance of some types of firms.
63 citations
TL;DR: In this paper, the authors used the financial statements of Argentine industrial firms to study the micro level impact of recent liberalization and reform attempts and found that extremely large subsidies were provided to the industrial sector by way of negative effective financial costs, which appeared first in the late 1970s because of real currency appreciation and unconstrained access to foreign credit, then again in 1981 because of an exchange insurance program.
18 citations
TL;DR: In this paper, the authors used the financial statements of industrial firms to develop an integrated firm's eye view of the changes in the Uruguayan economy during 1973-1981, and found that real financial costs were very negative and tended to offset low returns on operating assets.
13 citations
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TL;DR: In this paper, the authors used the financial statements of industrial firms to provide an integrated firm level view of the changes in the Chilean economy during 1977-81 and found that both real side and financial shocks had major effects on the performance of some types of firms.
Abstract: This paper uses the financial statements of industrial firms to provide an integrated firm level view of the changes in the Chilean economy during 1977-81. Both real side and financial shocks had major effects on the performance of some types of firms. Ex
2 citations
Posted Content•
TL;DR: In this paper, the authors used the financial statements of Argentine industrial firms to study the micro level impact of recent liberalization and reform attempts and found that extremely large subsidies were provided to the industrial sector by way of negative effective financial costs, which appeared first in the late 1970s because of real currency appreciation and unconstraided access to foreign credit, then again in 1981 because of an exchange insurance program.
Abstract: This paper uses the financial statements of Argentine industrial firms to study the micro level impact of recent liberalization and reform attempts. The main lesson is that extremely large subsidies were provided to the industrial sector by way of negative effective financial costs. These negative costs appeared first in the late 1970s because of real currency appreciation and unconstraided access to foreign credit, then again in 1981 because of an exchange insurance program. We also find that the government's announced intention to promote exporting activities did not translate into relatively favorable product market conditions for exporting firms. To the contrary, the real currency appreciation squeezed exporters's profits while redundant tariff protection insulated import competing firms from world competition, at least until 1980.
1 citations
TL;DR: In this article, the authors investigate how the microeconomic adjustment to the new set of incentives took place and whether the intent of the reforms to shift resources from nontradable to tradable goods producers and within tradable producers from import substitutes towards exporters did in fact take place.
1 citations
Posted Content•
TL;DR: In this article, the authors used the financial statements of industrial firms to develop an integrated firm's eye view of the changes in the Uruguayan economy during 197381, and found that real financial costs were very negative and tended to o
Abstract: This paper uses the financial statements of industrial firms to develop an integrated firm's eye view of the changes in the Uruguayan economy during 197381. In the first of three subperiods, 1973-75, real financial costs were very negative and tended to o