This paper evaluates the impact of the elimination of exchange restrictions and trade regulations on the behavior of importing firms from 2016 onwards. In particular, using a novel basis at the granular level, the performance of firms importing capital goods is studied. The results of the intensive, extensive, sub-intensive and subextensive margins indicate heterogeneous effects depending on the period considered. In general terms, the elimination of restrictions increased the number and intensity of firms importing capital goods, one of the main components of Investment. The largest proportion of the variation in the amounts imported was due to the incidence of pre-existing firms and products, although the participation of new firms in trade and the increase in the mix of products purchased abroad by importing firms were also observed. Access to a greater variety of capital goods, in addition to the macroeconomic effect that was evidenced, could undoubtedly have an impact on production costs, profitability and eventually productivity of firms.
