Foreign Technology Acquisition and Changes in the Real Exchange Rate
Author
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Álvarez Espinoza, Roberto
Admission date
dc.date.accessioned
2015-08-26T13:34:18Z
Available date
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2015-08-26T13:34:18Z
Publication date
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2015
Cita de ítem
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The World Economy (2015) Volumen: 38 Número: 4 Páginas: 613-628 Número especial
en_US
Identifier
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DOI: 10.1111/twec.12253
Identifier
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https://repositorio.uchile.cl/handle/2250/133176
General note
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Artículo de publicación ISI
en_US
Abstract
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This paper uses plant-level data from the manufacturing sector of Chile to investigate how changes in the real exchange rate affect the decision to purchase foreign technologies through licensing. Theoretically, a real depreciation has an ambiguous effect on foreign technology adoption. On the one hand, a real depreciation makes exports more competitive, and as exporters tend to adopt and use more advanced technologies, we should observe a higher propensity to import technologies among them. On the other hand, a real depreciation can also make imports of technology relatively more expensive. Thus, this question must be examined empirically. The empirical analysis shows that a real depreciation significantly increases the probability of using foreign technology licences for plants that export and for plants in the intermediate range of the size and productivity distribution.