Export sunk costs: can spillovers open the bottleneck? ‐ determinants of Chilean wine exports
This thesis follows previous research on sunk cost associated with exports of heterogeneous goods. The impact of sunk cost is evaluated at the industry level, using the Chilean wine industry as a case study. Data for export flows to 92 destination countries over the period 1990 – 2006 shows strong evidence on the importance of sunk costs for future export decisions, and the results are statistical