Abstract
This paper investigates the role of three modes of globalisation – exporting, importing intermediate inputs and foreign ownership – on firm closure. No work has been done examining the complementarity/substitutability of these three globalisation modes on firm closure in a least-developed country. We use firm-level data from Cameroon and find that exporting and importing are beneficial, exports are more important in affecting firm survival than imports and foreign-owned firms tend to have shorter lives. The results highlight the importance of taking complementarity/substitutability of globalisation modes into account when analysing firms’ exit probabilities, while exporting and importing are substitutes in their effects on firm failure.
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