Three Essays On Exporting Firm Dynamics And Productivity Growth
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Three Essays On Exporting Firm Dynamics And Productivity Growth
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Author : Ping Hsuan Fung
language : en
Publisher:
Release Date : 2002
Three Essays On Exporting Firm Dynamics And Productivity Growth written by Ping Hsuan Fung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Essays On International Trade And Industry Dynamics
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Author : Bernardo Diaz De Astarloa
language : en
Publisher:
Release Date : 2017
Essays On International Trade And Industry Dynamics written by Bernardo Diaz De Astarloa 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.
This dissertation consists on three essays on international trade and industry dynamics. All three essays study empirical applications of open economy environments with heterogeneous firms who make decisions over time.The first essay studies trade policy and the dynamics of the solar photovoltaic manufacturing industry in the U.S. In it I develop a computable, continuous-time dynamic model of the industry where domestic firms engage in price competition against each other and an importing sector to sell solar panels to domestic consumers. Firms can attain cost reductions through learning by doing and R&D investments. I use the model to estimate its main parameters using firm-level survey data from the Department of Energy and then simulate the application of countervailing duties to imports of solar panels, analyzing the implications for the evolution of the industry and welfare. In a scenario where a 30% duty is applied to imports, domestic firms respond by increasing R&D expenditures, therefore increasing productivity and setting lower prices, even when concentration increases as high productivity domestic firms gain market share.The second essay is on the dynamics of the textiles and garments industry in Bangladesh. First, it shows that, in contrast to the standard description of entry into foreign markets, Bangladeshi exporters are fully committed to foreign markets, exporting most of their output abroad; they start big, not small, and show high survival rates once they start exporting. They are born to export firms who operate in orphan industries, with essentially missing domestic demand for their products. In addition to the usual fixed and sunk costs of exporting, they must face presumably higher costs of starting up new businesses. Then it compares these patterns with those of China, Colombia and Taiwan, and find similar but less-striking patterns for China. These features seem to be missing in Taiwan and Colombia, which accord with other typical cases described in the literature. Finally, it adapts a search and learning model of export dynamics to show how the presence of high sunk costs of establishing a new business and the absence of a domestic market can generate export trajectories similar to the ones we observe in Bangladesh. The third essay focuses on the links between productivity and exporting. The trade literature has identified three relationships. First, that productivity causes exporting, so that there is selection into exporting by more productive firms. Second, that exporting generates productivity growth through, for example, learning-by-exporting. Third, that firms make choices that make them more productive in preparation to export. The essay shows that patterns of Chinese exporters are consistent with all three hypotheses. Exporters are more productive than non-exporters, which is consistent with selection. For successful exporters, most of the productivity growth during the period occurred after entering export markets, rather than before. For unsuccessful exporters, on the other hand, this pattern is reversed. Average annual productivity growth, however, is higher prior to entry for both groups. Finally, new exporters increase sales expenditures and earn higher revenue from new products than other firms before they start exporting. This is true when compared to both non-exporters and continuous exporters.
Essays On Industrial Organization And Firm Dynamics
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Author : Qinshu Xue
language : en
Publisher:
Release Date : 2022
Essays On Industrial Organization And Firm Dynamics written by Qinshu Xue and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This dissertation consists of three essays in the areas of Industrial Organization and Firm Dynamics and Trade, examining the interaction between firms' decision-making and government policies in determining market outcomes and the welfare consequences.The first chapter studies how upstream market concentration and demand risk affect downstream firms' outsourcing decisions. Firms' boundary decisions are one of the most fundamental issues in economics. I focus on the volatile automobile industry and study how firms can use outsourcing to insure themselves against the demand risk. I formulate a structural model in which outsourcing allows the downstream firms to hedge the uncertain in-house production cost and upstream firms exploit downstream's insurance motive by exerting market power. I estimate the model using data on the vehicle manufacturers and upstream transmission firms in the automobile industry. In the counterfactual analysis, I evaluate the potential impact of the United States-Mexico-Canada Agreement. When the upstream market is more concentrated due to the protection of the local firms, upstream's price response to a negative shock further increases by 68%. An increase in upstream market power attenuates upstream's role of insurance and amplifies the impact of economic downturns on consumer welfare and manufacturers' profit by 65%. My paper highlights a previously overlooked welfare loss channel of market power, especially in industries heavily affected by the business cycles. In the second chapter, I analyze the impact of trade policies on firm dynamics and the labor market. I construct a demand system with the production function to purge out the price effect in productivity measures based on sales data. It allows me to separate the firm-side physical productivity gain from the demand-side impact of trade liberalization. I use my new physical productivity measure to analyze the effect of the processing trade policies prevalent in developing countries. Required by the policy, firms import duty-free intermediate input from abroad but are forced to reexport their final products. Though firms with high productivity enter the export market, I find firms with productivity lower than non-exporters become pure processing trade firms and export as well. In addition, their productivity gains from the input tariff reduction and exporting are much smaller compared with the other exporting firms. In the third chapter, my coauthor and I study the geographic concentration of entrants and capitalists in the US. We first document that VC investment is elastic to local vintage capital, and we propose that local vintage capital supply is an essential determinant of this spatial concentration and co-location decision. We develop a model by linking the motives of co-locating by entrants and capitalists via a core feature of vintage capital reallocation toward young firms mediated by venture capital. Since a vintage capital market with abundant supply can lower the capital cost and thus increase the profits, VC investments are attracted due to higher expected returns. This, in turn, encourages entrepreneurship and leads to a selection-induced agglomeration effect. A larger city intensifies such allocative forces and thus amplifies the agglomeration effect, which ultimately makes the city further attractive to VC investment relative to others.
Essays On Firm Dynamics Endogenous Growth And International Trade
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Author : Cristiana Benedetti Fasil
language : en
Publisher:
Release Date : 2011
Essays On Firm Dynamics Endogenous Growth And International Trade written by Cristiana Benedetti Fasil and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business enterprises categories.
Recent empirical firm level studies reveal the structural heterogeneity of firms in process and product innovation, as well as the central role of product quality in determining world trade patterns and intensities. This calls for a better understanding of the link between firm heterogeneity and the innovation and export decisions of firms which are at the base of productivity growth and, hence, economic growth and development. My dissertation contributes to this debate focusing on the supply side. I propose a novel way to model the production technology of firms by introducing two attributes of firm heterogeneity: cost efficiency and product quality. The goal of the first thesis chapter is to study the effects of process and product innovation on firm dynamics, productivity and endogenous long run growth. In the second chapter an open economy framework with trade between symmetric countries is analyzed. Here the focus is on quantifying the impact of trade as well as trade liberalization on firm innovation dynamics and productivity- and aggregate growth. The third chapter abstracts from endogenous growth and examines the role of the two attributes of firm heterogeneity in shaping the trade patterns and intensities within and across developed and developing countries.
Essays On Dynamics Of Exports Innovation And Productivity
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Author : Ruohan Wu
language : en
Publisher:
Release Date : 2013
Essays On Dynamics Of Exports Innovation And Productivity written by Ruohan Wu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Abstract: My dissertation discusses the dynamics of firms' exports, innovation and productivity growth in an open economy. More specifically, my empirical research finds that both exporting and innovation are important channels for industries and individual firms to promote their productivity. I then build a theoretical model that shows how heterogeneous firms determine their choices of innovation and exports, and how these choices affect their growth and consequently the aggregate economy.
Essays On International Trade Productivity And Growth
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Author : Leilei Shen
language : en
Publisher:
Release Date : 2012
Essays On International Trade Productivity And Growth written by Leilei Shen 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.
Exporting Firm Dynamics And Productivity Growth Evidence From China
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Author : Huang Xiaobing
language : en
Publisher:
Release Date : 2015
Exporting Firm Dynamics And Productivity Growth Evidence From China written by Huang Xiaobing and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Essays On Geography And Firm Decision On Exports And Investment
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Author : Kai Li
language : en
Publisher:
Release Date : 2016
Essays On Geography And Firm Decision On Exports And Investment written by Kai Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The world is not flat, neither are countries. Geography, in terms of location and destination, plays a key role in firm activity. The thesis is composed of two chapters that are relevant to geography and firms' decisions on exporting and investment.Previous research on export dynamics addresses a firm's tradeoff between generating a profit now or in the future, but it overlooks the importance of a firm's export decisions across markets. In the first chapter paper, I study a firm's dynamic export destination choice over two markets (the North and South) using a structural model in which I take into account of both the selection effect and the learning-by-exporting effect. Using data from the Chinese plastic industry, I distinguish and model two determinants that impact a firm's sales: a general component productivity that affects the firm's (entry) sales in all markets, and a market-specific component demand that influences sales only in that market to which the firm is exporting. I find that a firm's decision to export to the North promotes entry (sales) in other markets through productivity improvement. In contrast, a firm's decision to export to the South merely increases the sales in the South through a market-specific demand impact. Counterfactual analysis shows that omitting the benefits of exporting to the South deters 7% of all exporting firms that may have exported to the North; yet eliminating the benefits of exporting to the North deters 34% of all exporting firms that may have exported to the South.In addition to research on export destinations, the location of the firm also determines the way they make decisions. In the second chapter, I study a panel dataset for firms in the equipment-making industry in China and observe that the investment rates in urban areas are consistently lower than in suburban areas by 6-7 percentage points. Three factors could explain this - the production technology, profit shocks and capital adjustment costs. I build a structural model and quantify the relative importance of three factors in determining the firms' investment rate. The results indicate that while the production technology is similar in urban and suburban areas, profit shocks tend to be more volatile and with higher means among firms in suburban areas. Moreover, urban firms face higher (even if more easily reversible) adjustment costs for capital. The counterfactual analysis reveals that profit shocks are responsible for 70-80% of the differential in investment rates whereas difference in adjustment costs explains only about 20-30%.
Essays On Firms Entry And Growth
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Author : Yong Tan
language : en
Publisher:
Release Date : 2013
Essays On Firms Entry And Growth written by Yong Tan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Electronic dissertations categories.
Trade And Productivity Effects On Firm Behavior
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Author :
language : en
Publisher:
Release Date : 2008
Trade And Productivity Effects On Firm Behavior written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Industrial productivity categories.
This dissertation's three essays investigate trade and productivity effects on firm behavior based on new heterogeneous-firms trade models in the case of Korea. In the first essay, firms' decision to export in the case of Korean manufacturing industries is examined, where the change in firms' productivity before and after exports are analyzed. In particular, two common hypotheses of export decision - self-selection and learning-by-exporting- are tested using a dynamic model of firm export behavior and a Korean firm-level panel database. Evidence of self-selection is found in only three out of eight industries, but that of learning-by-exporting is limited. Sunk-cost or previous-export-experience effect on the predicted export probability is relatively larger than that of firms' productivity and size. The second essay investigates the effect of trade cost changes on firms' entry and exit in Korean manufacturing. Empirical support is found for new trade theories' predictions on firm entry and exit, and the number of exporting firms, and changes in market share following trade-cost changes. However, Korean manufacturing appears to differ from some of the outcomes of the heterogeneous-firms theory, especially in the result that large firms are less likely to be a new exporter. Rather, smaller and less capital-intensive firms tended to enter the export market. In general, the results of this essay show that changing trade costs had important consequences for the structure of manufacturing activity in Korea. In the final essay, the differences in the scale economies of exporters and non-exporters in Korean manufacturing are investigated. Results from estimating a production function show that exporters face diseconomies of scale in four of five industries. A matching technique confirms the difference in returns to scale between exporters and non-exporters. The evidence that size and hence, scale economies may be less important for trade participation and gains from overseas market, bodes well for small or medium exporters. In summary, this dissertation has improved the understanding of the relationships among trade, productivity and firm behavior. The key determinant of firms' export behavior in the Korean context appears to be previous experience in overseas markets. Not surprisingly, the Korean government has invested heavily in lowering their firms' cost of accessing foreign markets. In industries where Korea has a comparative advantage, high productivity of firms appears to promote trade participation. However, productivity growth in other industries is low and falling, in some cases. A balanced approach to investments in productivity and export promotion would sustain and improve Korean manufacturing's competitiveness in global markets.