Determinants of Export Performance of Firms: Lessons from Indian Experience

Macroeconomic policy reforms initiated in India since 1991 have brought about significant improvement in the export performance of firms. This paper examines the export performance of firms with the help of balance sheet data of 557 firms for the years 1980-1 to 1995-6. Applying panel Tobit model, it explains the improved export performance through changes in various firm level variables as well as economic environmental factors derived from existing literature on experiences of different countries. From its findings on India, the paper also draws certain strategic and policy implications likely to be relevant for emerging economies.

自1991年以来印度发起的宏观经济政策改革使企业的出口业绩有了显著提高。本文借助557家企业1980 - 1981年至1995 - 1996年的资产负债表数据考察了企业的出口业绩。通过应用面板托宾模型，它从不同国家经验的现有文献中得出的各种企业层面变量的变化以及经济环境因素来解释出口业绩的提高。根据对印度的研究结果，本文还得出了一些可能与新兴经济体相关的战略和政策启示。