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Author: Ruohan Wu
Publisher:
ISBN:
Category :
Languages : en
Pages : 133
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Book Description
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.
Author: Ruohan Wu
Publisher:
ISBN:
Category :
Languages : en
Pages : 133
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Book Description
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.
Author: Cristiana Benedetti Fasil
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 96
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Book Description
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.
Author: Daewoong Choo
Publisher:
ISBN:
Category : Globalization
Languages : en
Pages : 129
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Book Description
Globalization is a key variable associated with technological change. This dissertation examines not only the correlation between globalization and innovation, but also the interacting effect of globalization with firm-specific variables on innovation and performance. Essay 1: Why Do Some Countries Hardly Innovate? Evidence from Zero Inflated Negative Binomial Model The patent data from the United States Patent and Trademark Office (USPTO) indicate that among 175 countries, between 1977 and 2010, about 45% hardly generated any innovations. We argue that this group of countries is systematically different from the others who have been innovative, and that non-innovative countries need to possess a minimum level of ability and incentive in order to progress. By employing a zero-inflated negative binomial model based on the patent data from the USPTO, the results show that the significant determinants turning a non-innovative country into an innovative one are active international trade, improved quality of civil liberties, a high level of human capital, and less economic reliance on natural resources. Essay 2: Two Different Effects of R & D on Innovation in South Korea: Evidence from The Firm Level Data At the firm level, innovation can be made through two different effects of research and development (R & D), which are the creative effect and the learning effect. It should be noted that export activities can offer an important source of learning--as important as foreign direct investment (FDI)--and may be exceptionally meaningful for firms in countries with export-oriented economies. Using longitudinal firm-level data for the period of 2000-2009 in South Korea, empirical tests show that the creative effect of R & D is far more important than the learning effects through export and FDI in generating innovation. Essay 3: The Dynamic Relationship between Female Employment and Firm Profitability: A Three-Stage Sigmoid Curve Model and the Influence of Export Female workers are sources of competitive and intangible assets that can enhance a firm's profitability. I present arguments that the correlation between gender diversity and organizational performance needs to be investigated in terms of more complex corporate circumstances. Empirical analyses of longitudinal firm-level data from South Korea for 2000-2009 show that a firm's female workers are more positively related to a firm's profitability when the firm actively exports. In addition, the results demonstrate a sigmoid curve relationship between female workers and profitability.
Author: Kaiji Gong
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This dissertation explores the determinants of firms' productivity growth and innovation activities. The first chapter studies the local technology spillover effects originated from multinational firms' innovation activities. The second chapter discusses the impact of import competition from China on U.S. firms' innovation activities. The third chapter introduces a new measure of firm-level regulation, and examines the consequences of rising regulation intensity in the U.S. on firms' production choices. Chapter 1 identifies the causal impact of U.S. multinationals' technology advances on their subsidiaries and the nearby domestic firms' productivity in China. By combining firm-level panel data from both the U.S. and China, I match U.S. multinationals with their manufacturing subsidiaries in China and measure the multinationals' technology stocks based on their patenting activities. To address potential endogeneity concerns, I introduce an instrumental variable strategy based on the U.S. state level R& D tax credit policies. I find multinationals' technology improvements induce increase in the output and total factor productivity (TFP) of both their subsidiaries and domestic firms in local areas. The magnitude of technology spillovers hinges on local firms' absorptive capacities, and their technological connections to the multinationals. Chapter 2 (co-authored with Rui Xu) analyzes 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, and financial services. Chapter 3 (co-authored with Constantine Yannelis) introduces a new measure of firm-level regulation. We find that more regulation increases labor and capital inputs. Productivity decreases, which is consistent with a model of regulation inducing non-productive investment. We employ two empirical strategies to identify the causal impact of regulation on firms, first, utilizing structural breaks and industry level regulation changes, and second, computing predicted industry level regulation measures as instruments. We conduct an event study using the surprise 2016 US election results. Firms with higher Dodd-Frank exposure exhibited higher returns following an increase in the probability of repeal.
Author: John De la Mothe
Publisher: Edward Elgar Publishing
ISBN: 9781781958742
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
Examining the issues facing smaller regions and countries, John de la Mothe explores how innovation, strategy and interdependence shape their performance, competition, and futures. Innovation and interdependence are central elements of advanced and advancing economies. In our globalized world, the production of knowledge is continually evolving. This is reflected in the design of institutions and in the results on the standards of living that are achieved and sustained. It also implies new forms of competition. Increasingly, smaller countries, regions and cities that do not fit into traditional theories of growth are becoming leaders in technology-intensive products and quick followers in innovative practices. Often heavily committed to large emerging economic markets (such as China and India) and political hegemons (such as Germany, Japan, and the United States), smaller nations, regions and cities are playing an almost unprecedented role in the shape of things to come. By examining the texture of the new economy, paths to constructing advantage, and aspects of the cultures that lead to the new economy, this book provides a valuable and essential guide to scholars, policymakers, strategists and students.
Author: Xiaomei Sui
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 0
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Book Description
"This dissertation consists of essays studying how macroeconomic outcomes, particularly aggregate productivity growth, are affected by the change in market environment or market frictions in the presence of heterogeneous firms from an international perspective. Each chapter employs both empirical and quantitative macroeconomic methods. The first chapter studies how globalization contributes to uneven firm growth and its implications for industrial concentration and productivity growth in OECD countries. I document new facts showing that industry leaders grow faster in sales and patenting than followers, particularly in industries with increasing export intensities; sales divergence is mainly driven by exports rather than domestic sales. To rationalize these facts, I develop a two-country endogenous growth model with strategic domestic and international competition and an 'innovation disadvantage of backwardness' that captures how firms innovate less when left behind. Globalization, modelled as decreasing trade iceberg costs and increasing international knowledge spillovers, triggers a stronger innovation response among leaders than followers via the market size effect, inducing an increase in domestic concentration that depresses firm innovation via weaker domestic competition: followers and leaders reduce innovation due to the innovation dis-advantage of backwardness and decreasing returns to innovation, respectively. The globalization-induced harsher foreign competition also reduces innovation via lower profits. In the calibrated model, globalization explains 80% of the rise in industrial concentration and 50% of the productivity growth slowdown in the data, mainly due to weaker domestic competition. The increasing international knowledge spillover force of globalization dominates. The second chapter studies how the less-developed financial market in Southern European countries contributes to their slower aggregate productivity growth than developed European countries since the information and communications technology revolution. I document that Southern European firms have lower productivity growth, lower intangible capital growth, and lower leverage than developed European firms. The disparity is larger among smaller firms. To rationalize these findings, I build a model featuring endogenous firm productivity growth through innovation investment and size-dependent financial frictions. Financial frictions lower productivity growth via two channels: innovation investment and misallocation. The model finds that financial frictions account for at least 11% of the aggregate productivity growth difference in the data, mainly via the innovation investment channel. The model also highlights that fast capital and output growth may coexist with slow productivity growth due to firms' tradeoffs in allocating a constrained amount of investment between capital and productivity."--Pages viii-ix.
Author: Inter-American Development Bank
Publisher: Springer
ISBN: 1349581518
Category : Business & Economics
Languages : en
Pages : 366
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Book Description
This volume uses the study of firm dynamics to investigate the factors preventing faster productivity growth in Latin America and the Caribbean, pushing past the limits of traditional macroeconomic analyses. Each chapter is dedicated to an examination of a different factor affecting firm productivity - innovation, ICT usage, on-the-job-training, firm age, access to credit, and international linkages - highlighting the differences in firm characteristics, behaviors, and strategies. By showcasing this remarkable heterogeneity, this collection challenges regional policymakers to look beyond one-size-fits-all solutions and create balanced policy mixes tailored to distinct firm needs. This book is open access under a CC BY-NC-ND 3.0 IGO license.
Author: Ishan Deep Ghosh
Publisher:
ISBN:
Category : Economic geography
Languages : en
Pages : 0
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Book Description
This thesis is divided in two parts: the first part investigates the role of firms in international trade and productivity growth; the second explores the changing geographical landscape of innovation and high-tech jobs in the U.S. In the first essay, I use confidential firm level data from the U.S. Census Bureau to study the causal impact of offshoring on R&D expenditures and quantify their joint impact on firm performance. I highlight two main contributions: First, by constructing a shift-share design instrument to identify exogenous variation in offshoring, I show that offshoring has a significant positive impact on domestic R&D expenditures. Second, I build and estimate a structural dynamic model of R&D investment, in which a decline in the relative cost of imported intermediates increases the firm's incentive to invest in R&D, thus endogenously leading to an increase in firm productivity. I then use the estimated model to quantify the effects of a (not so) counterfactual tariff on firm value and long-run returns to R&D. In response to a proposed 20% unilateral tariff on intermediate imports, firm value declines by 0.6% in the subsequent period, while average long-run gains from R&D decline significantly by 2.94 percentage points, owing to a decline in R&D participation by 7.1 percentage points. In light of the current political discourse on protectionist trade policies, this paper shows that identification of the offshoring driven R&D channel is fundamental to quantify the consequences of trade policies on firm performance. In the second essay, I provide external validation to the results highlighted
Author: Hyuk Chung
Publisher:
ISBN:
Category : Research
Languages : en
Pages : 120
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Author: Siwook Lee
Publisher:
ISBN:
Category :
Languages : en
Pages : 258
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