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The Determinants of Exit in an Open Economy

Joseph E. Flynn
Small Business Economics
Vol. 3, No. 3 (Sep., 1991), pp. 225-232
Published by: Springer
Stable URL: http://www.jstor.org/stable/40228725
Page Count: 8
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The Determinants of Exit in an Open Economy
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Abstract

In this paper the determinants of exit are investigated for the manufacturing sector of the United States economy, which has been subjected to growing international influences. The analysis uses United States cross-sectional data. The results of the exit equation suggest that low profitability, declining industry growth, and displacement of incumbents by entrants foster exit. International influences are also seen to have an impact on U.S. manufacturing exit. Specifically, imports into an industry have a small effect on exit and protection has little influence in stemming exit.

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