Firm Innovation Under Import Competition From Low Wage Countries
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Firm Innovation Under Import Competition From Low Wage Countries
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Author : Ujjayant Chakravorty
language : en
Publisher:
Release Date : 2017
Firm Innovation Under Import Competition From Low Wage Countries written by Ujjayant Chakravorty and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
In recent years, manufacturing firms in the United States have faced increasing import competition from low-wage countries, especially China. Does this competition hurt or help innovation by firms? This paper studies the effect of the surge in imports from China on innovation in the US manufacturing sector. We combine patent, firm and trade data during 1990-2006 for US publicly-listed firms in the Compustat dataset. We find consistent evidence that Chinese import competition had a positive effect on firm innovation, as measured by citation-weighted patent applications. This positive effect persists when we instrument import competition in the US by using Chinese import penetration in the United Kingdom. Next we investigate this relationship between import competition and innovation by considering industry and firm heterogeneity. We find that firms in low-tech industries and those with a lower degree of product differentiation show a significant positive response to import competition. Firms with a higher capital intensity and lower labor productivity also exhibit a greater response. These results are shown to be robust to a variety of measures for import penetration and innovation.
Origin Matters
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Author : Xiaoyang Li
language : en
Publisher:
Release Date : 2017
Origin Matters written by Xiaoyang Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
We examine the impact of import competition on firms' innovation input and output. We conjecture that U.S. firms view import competition from high-wage countries (HWCs) as “neck-and-neck” competition and will respond by intensifying innovation. In contrast, U.S. firms will reduce innovation in response to import competition from low-wage countries (LWCs), because such competition does not always increase the potential benefits from innovation. Our empirical results are supportive. We find that, when confronting HWC import competition, U.S. firms increase R&D spending while intensifying and improving innovation output (file more patents, receive more citations to their patents, and produce more breakthrough patents). Moreover, U.S. firms closest to the technological frontier -- largest firms, firms with the largest stocks of knowledge, and most profitable firms -- increase and improve their innovation the most in response to HWC competition. These results shed light on the relationship between product market competition and innovation, and point to the origin of import competition as a determent of innovation decisions made by U.S. companies.
Import Competition And Firm Productivity
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Author : Richard Bräuer
language : en
Publisher:
Release Date : 2019
Import Competition And Firm Productivity written by Richard Bräuer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This study analyses empirically the effects of import competition on firm productivity (TFPQ) using administrative firm-level panel data from German manufacturing. We find that only import competition from high-income countries is associated with positive incentives for firms to invest in productivity improvement, whereas import competition from middle- and low-income countries is not. To rationalise these findings, we further look at the characteristics of imports from the two types of countries and the effects on R&D, employment and sales. We provide evidence that imports from high-income countries are relatively capital-intensive and technologically more sophisticated goods, at which German firms tend to be relatively good. Costly investment in productivity appears feasible reaction to such type of competition and we find no evidence for downscaling. Imports from middle- and low-wage countries are relatively labour-intensive and technologically less sophisticated goods, at which German firms tend to generally be at disadvantage. In this case, there are no incentives to invest in innovation and productivity and firms tend to decline in sales and employment.
Does Import Competition Induce R D Reallocation Evidence From The U S
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Author : Rui Xu
language : en
Publisher: International Monetary Fund
Release Date : 2017-11-16
Does Import Competition Induce R D Reallocation Evidence From The U S written by Rui Xu and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-16 with Business & Economics categories.
We analyze the impact of rising import competition from China on U.S. innovative activities. Using Compustat data, we find that import competition induces R&D expenditures to be reallocated towards more productive and more profitable firms within each industry. Such reallocation effect has the potential to offset the average drop in firm-level R&D identified in the previous literature. Indeed, our quantitative analysis shows no adverse impact of import competition on aggregate R&D expenditures. Taking the analysis beyond manufacturing, we find that import competition has led to reallocation of researchers towards booming service industries, including business and repairs, personal services, and financial services.
Worker Reallocation Firm Innovation And Chinese Import Competition
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Author : Grace Weishi Gu
language : en
Publisher:
Release Date : 2021
Worker Reallocation Firm Innovation And Chinese Import Competition written by Grace Weishi Gu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Trade Jobs And Inequality
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Author : Ms. Kimberly Beaton
language : en
Publisher: International Monetary Fund
Release Date : 2021-07
Trade Jobs And Inequality written by Ms. Kimberly Beaton and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07 with Business & Economics categories.
This paper examines the impact of trade on employment, wages, and other outcomes across countries and explores the conditions and policies that help spread the gains from trade more evenly throughout the population. We exploit a large global firm-level dataset to examine the impact of import competition on employment, wages, and firm performance, as well as the firm, industry, and country factors that mitigate any negative impact of an import shock. In contrast to the results of some well-known single-country studies, we find limited adverse impact of import competition. In some countries and industries, import competition actually strengthens employment growth. In addition, import competition tends to improve average wages, investment, and firm profitability. Country characteristics, such as educational attainment, can also improve employment prospects in response to trade shocks. Finally, we find that firms experiencing greater import competition start with higher average wages; thus any relatively slower employment growth in this group of firms could lead to lower inequality.
Competition Trade And Wages
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Author : J. Peter Neary
language : en
Publisher:
Release Date : 2001
Competition Trade And Wages written by J. Peter Neary and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Competition, Imperfect categories.
Presents a model to analyse the effects of both trade and technological change on the demand for skilled and unskilled labour and on wage differentials.
U S Multinationals And Competition From Low Wage Countries
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Author : David A. Riker
language : en
Publisher:
Release Date : 1997
U S Multinationals And Competition From Low Wage Countries written by David A. Riker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business enterprises categories.
It is often argued that the globalization of production places workers in industrialized countries in competition with their counterparts in low wage countries. We examine a firm-level panel of foreign manufacturing affiliates owned by U.S. multinationals between 1983 and 1992 and find evidence to the contrary. Affiliate activities in developing countries appear to be complementary to rather than substituting for affiliate activities in industrialized countries. Workers do compete across affiliates, but the competition is between affiliates in countries with similar workforce skill levels. The results suggest that multinationals with affiliates in countries at different stages of development decompose production across borders into complementary stages that differ by skill intensity. The implied complementarity of traded intermediate inputs has important implications for the empirical debate over trade, employment, and wages.
The Organization Of Firms In A Global Economy
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Author : Dalia Marin
language : en
Publisher: Harvard University Press
Release Date : 2009-06-30
The Organization Of Firms In A Global Economy written by Dalia Marin and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-30 with Business & Economics categories.
Presents a new research program that is transforming the study of international trade. Until a few years ago, models of international trade did not recognize the heterogeneity of firms and exporters, and could not provide good explanations of international production networks. Now such models exist and are explored in this volume.
Survival Of The Best Fit
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Author : Andrew B. Bernard
language : en
Publisher:
Release Date : 2012
Survival Of The Best Fit written by Andrew B. Bernard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
We examine the relationship between import competition from low wage countries and the reallocation of US manufacturing from 1977 to 1997. Both employment and output growth are slower for plants that face higher levels of low wage import competition in their industry. As a result, US manufacturing is reallocated over time towards industries that are more capital and skill intensive. Differential growth is driven by a combination of increased plant failure rates and slower growth of surviving plants. Within industries, low wage import competition has the strongest effects on the least capital and skill intensive plants. Surviving plants that switch industries move into more capital and skill intensive sectors when they face low wage competition.