The Impact of Exporting on the Stability of U.S. Manufacturing Industries PDF Download
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Author: David Riker
Publisher:
ISBN:
Category : Exports
Languages : en
Pages : 17
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Book Description
"Exporting provides opportunities to expand the sales of U.S. manufacturing industries, resulting in potentially greater revenues for U.S. companies and higher employment for U.S. workers. However, many investors and workers are legitimately concerned about risk and expected return. Do the added risks and unpredictability associated with exporting outweigh the increase in expected revenues? This paper investigates the link between exporting and the economic stability of the U.S. manufacturing sector. It does so in two ways. First, by analyzing the 2000-2009 revenues reported in the public financial statements of two U.S. companies with substantial non-U.S. sales. Second, by analyzing the industry-level shipments data for the U.S. manufacturing sector as reported in the Census Bureau's Annual Survey of Manufactures and the Economic Censuses for 2000 through 2008"--Publisher's website.
Author: David Riker
Publisher:
ISBN:
Category : Exports
Languages : en
Pages : 17
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Book Description
"Exporting provides opportunities to expand the sales of U.S. manufacturing industries, resulting in potentially greater revenues for U.S. companies and higher employment for U.S. workers. However, many investors and workers are legitimately concerned about risk and expected return. Do the added risks and unpredictability associated with exporting outweigh the increase in expected revenues? This paper investigates the link between exporting and the economic stability of the U.S. manufacturing sector. It does so in two ways. First, by analyzing the 2000-2009 revenues reported in the public financial statements of two U.S. companies with substantial non-U.S. sales. Second, by analyzing the industry-level shipments data for the U.S. manufacturing sector as reported in the Census Bureau's Annual Survey of Manufactures and the Economic Censuses for 2000 through 2008"--Publisher's website.
Author: Office of Competition and Economic Analysis
Publisher: Createspace Independent Publishing Platform
ISBN: 9781494921330
Category : Reference
Languages : en
Pages : 24
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Book Description
Exporting provides opportunities to expand the sales of U.S. manufacturing industries, resulting in greater revenues for U.S. companies and higher employment for U.S. workers. However, investors and workers are concerned about risk as well as expected return, and risk depends on the volatility of economic outcomes. In the case of exports, it is worth asking whether the added risks and unpredictability associated with exporting outweigh the increase in expected revenues.
Author: Daniel Lederman
Publisher: World Bank Publications
ISBN: 0821384910
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Manufacturing seems to be a steadily diminishing presence in the American economy, producing a falling share of Gross National Product and employing a smaller share of the labor force. Many see this as a loss of something vital to providing "good" jobs and advancing economic well being. On the other hand, deindustrialization has occurred in varying degrees in most industrial economies and can be seen as a natural outcome of economic progress and a rising living standard. When examined from the standpoint of real output and level of employment, the U.S. manufacturing sector has shown considerable stability over the last 20 years. Because the apparent deindustrialization has been coincident with a rising level of international trade, particularly recent increases in trade with many low-wage, developing economies, there is an inclination to see causality running from rising trade to a faltering manufacturing sector. Yet economic analysis indicates that while a rising level of trade can have adverse consequences for particular industries, it is unlikely to adversely affect the whole manufacturing sector. Increased imports may hurt some industries, but the increased exports needed to pay for those imports helps other industries. Therefore, across all tradeable goods producing industries there is no net loss of jobs. Moreover, exporting industries tend to pay higher wages than import competing industries. Rising trade deficits are a somewhat different matter. Trade deficits are not a function of a rising level of trade. They are largely rooted in domestic macroeconomic forces that affect domestic saving and investment decisions, including the government budget. Trade deficits do not lead to any net loss of output or jobs for the economy, but they will likely change the composition of output and employment between tradeable and non-tradeable goods. It is very likely that the manufacturing sector, which produces tradeable goods, will be adversely affected by large and growing trade deficits, although that effect is probably not as large as commonly believed. An economic force that has clearly had a strong impact on manufacturing is a steady and often rapid rise in sector productivity. The impact of productivity on sector employment is far larger then the effect of trade deficits. In the past, productivity rise has allowed the manufacturing sector to expand output with a fairly steady level of employment. Recent acceleration of the pace of productivity advance raises the possibility that in the future, efficiency gains may outpace output growth and lead to significantly slower growth of sector employment. A policy response that would have a direct positive economic effect on the manufacturing sector is action toward reducing the trade deficit. An indirect policy response would be, to raise the pace of development of new technology and new products through added support for areas of idea creation that the private market will insufficiently support. There will still be need to ameliorate the destructive aspect of economic progress. If workers now must face an increasingly volatile labor market, more support may be needed for programs to ease the disruption workers face and facilitate their adjustment to new jobs. This report will not be updated.
Author: Parisa Kamali
Publisher: International Monetary Fund
ISBN: 1513519875
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
In many countries, a sizable share of international trade is carried out by intermediaries. While large firms tend to export to foreign markets directly, smaller firms typically export via intermediaries (indirect exporting). I document a set of facts that characterize the dynamic nature of indirect exporting using firm-level data from Vietnam and develop a dynamic trade model with both direct and indirect exporting modes and customer accumulation. The model is calibrated to match the dynamic moments of the data. The calibration yields fixed costs of indirect exporting that are less than a third of those of direct exporting, the variable costs of indirect exporting are twice higher, and demand for the indirectly exported products grows more slowly. Decomposing the gains from indirect and direct exporting, I find that 18 percent of the gains from trade in Vietnam are generated by indirect exporters. Finally, I demonstrate that a dynamic model that excludes the indirect exporting channel will overstate the welfare gains associated with trade liberalization by a factor of two.
Author: Dongyeol Lee
Publisher: International Monetary Fund
ISBN: 1498315658
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
Author: Douglas A. Irwin
Publisher: University of Chicago Press
ISBN: 022639901X
Category : Political Science
Languages : en
Pages : 873
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Book Description
A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
Author: Jason Katzman
Publisher: Skyhorse Publishing Inc.
ISBN: 1616081112
Category : Business & Economics
Languages : en
Pages : 385
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Book Description
Here is practical advice for anyone who wants to build their business by selling overseas. The International Trade Administration covers key topics such as marketing, legal issues, customs, and more. With real-life examples and a full index, A Basic Guide to Exporting provides expert advice and practical solutions to meet all of your exporting needs.
Author: United States International Trade Commission
Publisher:
ISBN:
Category : Embargo
Languages : en
Pages : 126
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Book Description
Author: Richard McCormack
Publisher:
ISBN: 9780615288192
Category : Globalization
Languages : en
Pages : 332
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Book Description
