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Author: Petia B. Topalova Publisher: ISBN: Category : Languages : en Pages : 38
Book Description
Using a panel of firm-level data, this paper examines the effects of India's trade reforms in the early 1990s on firm productivity in the manufacturing sector, focusing on the interaction between this policy shock and firm and environment characteristics. The rapid and comprehensive tariff reductions--part of an IMF-supported adjustment program with India in 1991--allow us to establish a causal link between variations in inter-industry and inter-temporal tariffs and consistently estimated firm productivity. Specifically, reductions in trade protectionism lead to higher levels and growth of firm productivity, with this effect strongest for private companies. Interestingly, state-level characteristics, such as labor regulations, investment climate, and financial development, do not appear to influence the effect of trade liberalization on firm productivity.
Author: Petia B. Topalova Publisher: ISBN: Category : Languages : en Pages : 38
Book Description
Using a panel of firm-level data, this paper examines the effects of India's trade reforms in the early 1990s on firm productivity in the manufacturing sector, focusing on the interaction between this policy shock and firm and environment characteristics. The rapid and comprehensive tariff reductions--part of an IMF-supported adjustment program with India in 1991--allow us to establish a causal link between variations in inter-industry and inter-temporal tariffs and consistently estimated firm productivity. Specifically, reductions in trade protectionism lead to higher levels and growth of firm productivity, with this effect strongest for private companies. Interestingly, state-level characteristics, such as labor regulations, investment climate, and financial development, do not appear to influence the effect of trade liberalization on firm productivity.
Author: Petia Topalova Publisher: INTERNATIONAL MONETARY FUND ISBN: 9781451844696 Category : Business & Economics Languages : en Pages : 38
Book Description
Using a panel of firm-level data, this paper examines the effects of India's trade reforms in the early 1990s on firm productivity in the manufacturing sector, focusing on the interaction between this policy shock and firm and environment characteristics. The rapid and comprehensive tariff reductions-part of an IMF-supported adjustment program with India in 1991-allow us to establish a causal link between variations in inter-industry and intertemporal tariffs and consistently estimated firm productivity. Specifically, reductions in trade protectionism lead to higher levels and growth of firm productivity, with this effect strongest for private companies. Interestingly, state-level characteristics, such as labor regulations, investment climate, and financial development, do not appear to influence the effect of trade liberalization on firm productivity.
Author: Pian Shu Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This chapter reviews the empirical economics literature on the impact of trade liberalization on firms' innovation-related outcomes. We define and examine four types of shocks to trade flows: import competition, export opportunities, access to imported intermediates, and foreign input competition. Our review reveals interesting heterogeneities at the country and firm levels. In emerging countries, trade liberalization appears to spur productivity and innovation. In developed countries, export opportunities and access to imported intermediates tend to encourage innovation, but the evidence on import competition is mixed, especially for firms in the United States. At the firm level, the positive effects of trade on innovation are more pronounced at the initially more productive firms while the negative effects are more pronounced at the initially less productive firms.
Author: Andrew B. Bernard Publisher: ISBN: Category : Free trade Languages : en Pages : 66
Book Description
This paper develops a general equilibrium model of multi-product firms and analyzes their behavior during trade liberalization. Firm productivity in a given product is modeled as a combination of firm-level "ability" and firm-product-level "expertise", both of which are stochastic and unknown prior to the firm's payment of a sunk cost of entry. Higher firm-level ability raises a firm's productivity across all products, which induces a positive correlation between a firm's intensive (output per product) and extensive (number of products) margins. Trade liberalization fosters productivity growth within and across firms and in aggregate by inducing firms to shed marginally productive products and forcing the lowest-productivity firms to exit. Though exporters produce a smaller range of products after liberalization, they increase the share of products sold abroad as well as exports per product. All of these adjustments are shown to be relatively more pronounced in countries' comparative advantage industries.
Author: Romain Wacziarg Publisher: Edward Elgar Publishing ISBN: 9781788111492 Category : Free trade Languages : en Pages : 0
Book Description
This compelling two-volume collection presents the major literary contributions to the economic analysis of the consequences of trade liberalization on growth, productivity, labor market outcomes and economic inequality. Examining the classical theories that stress gains from trade stemming from comparative advantage, the selection also comprises more recent theories of imperfect competition, where any potential gains from trade can stem from competitive effects or the international transmission of knowledge. Empirical contributions provide evidence regarding the explanatory power of these various theories, including work on the effects of trade openness on economic growth, wages, and income inequality, as well as evidence on the effects of trade on firm productivity, entry and exit. Prefaced by an original introduction from the editor, the collection will to be an invaluable research resource for academics, practitioners and those drawn to this fascinating topic.
Author: John Kealey Publisher: ISBN: Category : Languages : en Pages : 25
Book Description
In this paper we show that the relationship between trade liberalization and fi rm productivity is sensitive to the method used to estimate the production function. We estimate the productivity of Colombian manufacturing plants using the methods of Levinsohn and Petrin (2003), Ackerberg, Caves and Frazer (2015), and Gandhi, Navarro and Rivers (2017) and at times come to surprisingly different conclusions about firm productivity growth after the liberalization. Results from a growth decomposition exercise and from a quantile regression model reinforce the dissimilarity of results across methods.
Author: Albert G. Z. Hu Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper examines the impact of tariff reduction following China's World Trade Organization (WTO) entry on the productivity of Chinese manufacturing firms using a firm-level panel database that comprises all of China's manufacturing firms with an annual turnover above 5 million yuan and that spans the period of 2000-2006. An instrumental variable estimator is used to account for the endogeneity of the tariff reduction. The results indicate that China's trade liberalization in the five years following its WTO entry has led to a 0.94% annual increase in total factor productivity for Chinese manufacturing firms. However, the overall productivity gain from the tariff reduction is a net result of a productivity depressing effect of output tariff reduction and a productivity enhancing effect of input tariff reduction. Both effects have diminished in magnitude over the years after China joined the WTO. Firm heterogeneity and turnover plays an important role in generating gains from trade liberalization. The surviving firms have managed to cope with and take advantage of lower tariffs. The extent to which the tariff reduction affects Chinese firms' productivity is also dependent on the ownership structure of the firms with foreign-invested firms being the clear winner.
Author: Miaojie Yu Publisher: Springer Nature ISBN: 9811660301 Category : Business & Economics Languages : en Pages : 321
Book Description
This book mainly focuses on the miracle of China’s foreign trade in the past 40 years from five perspectives: first, it briefly reviews the import substitution strategy China adopted before its opening-up; second, it analyzes the export-oriented strategy that contributes a lot to China’s economic growth since 1980s; third, it discusses the impacts of trade liberalization and China’s participation in WTO on Chinese firms; forth, it addresses the deepening opening-up in the context of global financial crisis; last, it provides policy advice on China’s newly conducted all-around opening-up strategy. By dividing China’s opening-up into five stages, this book offers a comprehensive discussion to understand and analyze the reason, performance and challenge of China’s economic growth from the perspective of foreign trade.
Author: Petia B. Topalova
Author: Petia B. Topalova
Author: Petia Topalova
Author: Pian Shu
Author: Adam B. Jaffe
Author: Mona Haddad
Author: Andrew B. Bernard
Author: Romain Wacziarg
Author: John Kealey
Author: Albert G. Z. Hu
Author: Miaojie Yu