DETERMINANTS OF THE DECISION TO IMPORT: A CROSS-COUNTRY COMPARISON
|
|
- Ronald Chapman
- 5 years ago
- Views:
Transcription
1 DETERMINANTS OF THE DECISION TO IMPORT: A CROSS-COUNTRY COMPARISON Antonio Rodríguez Banco de España Joint work with Cristina Fernández, Coral García and Patry Tello Paper available at COMPNET. THE COMPETITIVENESS RESEARCH NETWORK Frankfurt 1th of December 212
2 OUTLINE OF THE PRESENTATION Motivation and literature review Dataset: Stylized facts Which are the determinants of importing at the firm-level? Conclusions 2
3 MOTIVATION (I) Increasing import dependence over the last few decades IMPORTS/GDP RATIO = WORLD EURO AREA SOURCES: IMF and Eurostat. 3
4 MOTIVATION (II) and persistent differences across countries, NOT ONLY in the LEVEL of their import dependency 4
5 MOTIVATION (III) but ALSO in their imports STRUCTURE. STRUCTURE OF IMPORTS Nominal terms 1 8 % France Germany Italy Spain SOURCE: Eurostat. SERVICES ENERGY NON-ENERGY INTERMEDIATE GOODS FINAL GOODS 5
6 A LITERATURE REVIEW Reasons for higher import dependency/differences in the import dependency and type of imported goods across countries International fragmentation of production/ Country specific factors/ Institutional factors/ Economic policy decisions/ Firms characteristics Importing goods and services: is it good or bad? It depends Augier et al. (29), Altomonte and Békés (29), Amiti and Konings (27), Keller (22) Only the more productive firms import: (Sunk) costs of the importing activity and the ability to exploit new and better inputs Altomonte and Békés (29), Vogel and Wagner (28), Muuls and Pisu (27) Set of firms characteristics that influence both on the propensity of importing and the type of goods purchased abroad Size, experience, human and technological capital, FDI/IO, EMN activity, financial constraints, spillover effects, importing hysteresis 6
7 WHAT THIS PAPER DOES Which firms characteristics increase the probability of being an importer? Are there differences across crountries? Which firms characteristics influence the type of imported goods? What lessons can we learn from the identified differences across countries? 7
8 THE DATASET: A DESCRIPTION Source of information: EFIGE survey Type of information: Firms characteristics (around 15 variables both qualitative and quantitative about the international activities, R&D, labour organization, financing and organizational activities and pricing behavior) Type of data: Manufacturing firm-level data. 28 cross-section data. Some variables also average Dataset STRENGTHS Unique micro dataset: firm-level homogenous information for seven European countries It allows us to analyse the factors behind import propensity and the differences between countries Dataset WEAKNESSES Manufacturing firms with 1 employees or more; sample representativeness (energy); cross-section data (future waves); types of information (qualitative) This could bias the results: endogeneity problems/omitted variable bias/selfselection sample problems/correlations versus real causality 8
9 THE DATASET: MAIN STYLIZED FACTS (I) Profile of importing firms in the largest Euro Area economies RELATIVE WEIGHT OF IMPORTING FIRMS % of total sample France Germany Italy Spain TOTAL IMPORTING FIRMS INTERMEDIATE GOODS SERVICES GEOGRAPHICAL BREAKDOWN OF IMPORTED INTERMEDIATE GOODS % of total intermediate goods importing firms France Germany Italy Spain EU15 REST OF EU REST OF EUROPE INDIA AND CHINA REST OF ASIA USA AND CANADA CENTRAL ANDSOUTHAMERICA REST OF THE WORLD SOURCE: EU-EFIGE/Bruegel-UniCredit dataset. IMPORT INTENSITY (IMPORTED VALUE/NET TURNOVER) % France Germany Italy Spain TOTAL IMPORTING FIRMS INTERMEDIATE GOODS SERVICES BREAKDOWN OF IMPORTED INTERMEDIATE GOODS BY COMPONENT % of total intermediate goods importing firms RAW MATERIALS France Germany Italy Spain CUSTOMISED INTERMEDIATE GOODS STANDARD INTERMEDIATE GOODS Highest share of importers and import intensity in France, lowest in Germany Most diversified imports (both geo and by type of products) in France and Germany High dependency on raw materials in Spain and Italy 9
10 THE DATASET: MAIN STYLIZED FACTS (II) Main determinants of the decision to import IMPORTING vs NON-IMPORTING FIRMS. TOTAL SAMPLE 28 average = Value of each variable in the case of non-importing firms Size Productivity Fixed capital per employee ratio Experience University graduat e ratio Product innovat ion SOURCES: EFIGE/Bruegel-UniCredit dataset and Amadeus. Process Group innovation membership Foreign group membership FDI International outsourcing Exporter Listed on stock exchange Sector-region spillovers a. The value of this variable indicates the percentage of firms having the characteristic in question (dummy variables). Internationalisation status, size, financial resources diversification 1
11 THE DATASET: MAIN STYLIZED FACTS (III) Main determinants of the decision to import: cross-country differences IMPORTING vs NON-IMPORTING FIRMS. SPAIN 28 average = Value of each variable in the case of non-importing firms IMPORTING vs NON-IMPORTING FIRMS. FRANCE 28 average = Value of each variable in the case of non-importing firms Size Productivity Group membership Foreign group membership FDI International outsourcing Listed on stock exchange IMPORTING vs NON-IMPORTING FIRMS. ITALY 28 average = Value of each variable in the case of non-importing firms IMPORTING vs NON-IMPORTING FIRMS. GERMANY 28 average = Value of each variable in the case of non-importing firms Size Productivity Group membership Foreign group membership FDI International outsourcing Listed on stock exchange SOURCES: EFIGE/ Bruegel-UniCredit dataset and Amadeus. a. The value of this variable indicates the percentage of firms having the characteristic in question (dummy variable). 11
12 DETERMINANTS OF THE DECISION TO IMPORT (I) The empirical strategy Econometric approach: a Probit is estimated to identify which variables could help to explain differences in the import propensity (country/sector specific factors and firms characteristics) Dependent variable: 1 if a firm imported in 28 and/or regularly in previous years, otherwise Control variables: Country and sector dummies Firms characteristics (size, experience, skills, R&D) Internationalisation status (foreign ownership, exporter, FDI/IO, import hysteresis) Industrial linkages (spillovers effects, group membership, IO, percentage of intermediate inputs on turnover) Financial constraints (stock exchange, bank debt) Presented results: coefficients reported are average marginal effects Dataset: EFIGE (Germany, France, Italy and Spain) 12
13 DETERMINANTS OF THE DECISION TO IMPORT (II) Dependent variable France (b) Italy (b) Spain (b) Size (c) University graduate ratio Process innovation Product innovation Foreign group membership FDI International outsourcing Exporter Sector-region spillovers SOURCE: EU-EFIGE/Bruegel-UniCredit dataset. IMPORTING FIRM [1] [2] [3] [4] [5].238***.239***.262***.243***.92*** (.15) (.14) (.14) (.14) (.17).39***.22***.65***.22* -.11 (.13) (.13) (.13) (.13) (.13).14***.14***.131***.114***.43*** (.14) (.14) (.14) (.13) (.14).17***.63***.6*** (.5) (.6) (.6).283***.18***.1** (.42) (.4) (.39).5***.45***.4*** (.1) (.1) (.9).12***.74***.74*** (.1) (.1) (.1).11***.79*** (.23) (.23).146***.136*** (.25) (.24).199***.195*** (.26) (.25).236***.216*** (.9) (.1).582*** (.33) a. Average marginal effects are reported. Standard deviations are in brackets. *, **, *** denote statistical significance at 1%, 5% and 1%, respectively. Full table available in the paper. b. Reference taken is Germany. c. As natural logarithm. 13
14 DETERMINANTS OF THE DECISION TO IMPORT (III) The empirical strategy Econometric approach: a Probit (Heckman) is estimated to identify which variables could help to explain differences in the type of goods imported Dependent variable: 1 if a firm imported ONLY one type of good, otherwise Control variables: Country and sector dummies Firms characteristics (experience, skills, R&D) Internationalisation status (foreign ownership, exporter, FDI/IO) Industrial linkages (spillovers effects, group membership) Financial constraints (stock exchange) Presented results : coefficients reported are average marginal effects Dataset: EFIGE (Germany, France, Italy and Spain) 14
15 DETERMINANTS OF THE DECISION TO IMPORT (IV) Dependent variable IMPORTING FIRM ONLY RAW MATERIALS France (b) Italy (b) Spain (b) Size University graduate ratio Process innovation Product innovation Foreign group membership FDI International outsourcing Exporter Sector-region spillovers SOURCE: EU-EFIGE/Bruegel-UniCredit dataset. Most efficient firms show a LOWER propensity of importing ONLY raw materials (in general, the opposite to other intermediate goods) Country dummies are significant ONLY STANDARD INTERMEDIATE GOODS ONLY CUSTOMISED INTERMEDIATE GOODS [1] [2] [3] [4].92*** -.54** -.17*** -.46*** (.17) (.27) (.25) (.16) *** -.51*** -.15* (.13) (.4) (.14) (.8).43***.187*** *** (.14) (.38) (.1) (.14).6*** (.6).1** **.37* (.39) (.65) (.3) (.22).4*** -.41*** (.9) (.14) (.7) (.5).74*** -.85***.2.9 (.1) (.15) (.8) (.5).79*** * (.23) (.28) (.14) (.1).136*** -.97*** (.24) (.29) (.15) (.11).195*** -.194*** *** (.25) (.33) (.17) (.1).216*** -.96*** (.1) (.26) (.13) (.8).582*** -.156**.65***.25 (.33) (.74) (.21) (.18) a. Average marginal effects are reported. *, **, *** denote statistical significance at 1%, 5% and 1%, respectively. Full table in the paper. b. Reference taken is Germany. c. As natural logarithm. 15
16 CONCLUSIONS There are important differences in the import dependency across the four largest Euro Area countries and also in the type of products imported Firms characteristics only explain part of these differences Country-specific characteristics are relevant as well as spillover effects Aggregate figures of import dependency don t have to be interpreted as a negative indicator of a country s competitiveness. It all depends on the type of goods imported. Fostering human and technological capital would help to take full advantage of international trade on imported inputs 16
17 THANK YOU FOR YOUR ATTENTION DIRECTORATE GENERAL OF ECONOMICS, STATISTICS AND RESEARCH
18 THE DATASET: MAIN STYLIZED FACTS (IV) Main determinants of the decision to import: cross-country differences. Importing firms compared to sample average IMPORTING FIRMS. SPAIN vs SAMPLE 28 average 1 = Value of each variable in the case of the sample importing firms 14 IMPORTING FIRMS. ITALY vs SAMPLE 28 average 1 = Value of each variable in the case of the sample importing firms IMPORTING FIRMS. FRANCE vs SAMPLE 28 average 1 = Value of each variable in the case of the sample importing firms Size Productivity Group FDI membership Foreign group membership International outsourcing SOURCES: EFIGE/ Bruegel-UniCredit dataset and Amadeus. Listed on stock exchange IMPORTING FIRMS. GERMANY vs SAMPLE 28 average 1 = Value of each variable in the case of the sample importing firms Size Productivity Group Foreign FDI International membership group outsourcing membership Listed on stock exchange a. The value of this variable indicates the percentage of firms having the characteristic in question (dummy variables). 18
DISCUSSION OF: MARGINS OF SERVICE TRADE: THE GERMAN CASE
DISCUSSION OF: MARGINS OF SERVICE TRADE: THE GERMAN CASE Patrocinio Tello Banco de España COMPNET. THE COMPETITIVENESS RESEARCH NETWORK Paris 21st of September 2012 MOTIVATION (I) The increasing importance
More informationINTERNATIONAL TRADE IN OTHER SERVICES: A CROSS- COUNTRY COMPARISON USING FIRM LEVEL DATA (FRANCE/GERMANY/SPAIN)
INTERNATIONAL TRADE IN OTHER SERVICES: A CROSS- COUNTRY COMPARISON USING FIRM LEVEL DATA (FRANCE/GERMANY/SPAIN) Patrocinio Tello Banco de España COMPNET. THE COMPETITIVENESS RESEARCH NETWORK Dublin 13
More informationExporting and Productivity The Cross Country Dimension
Exporting and Productivity The Cross Country Dimension The Trade-Productivity Nexus in the European Economy C. Altomonte Bocconi U. & Bruegel 15th FIW Workshop - Vienna Altomonte (Bocconi U. & Bruegel)
More informationWHY ARE SPANISH SMALL FIRMS LESS PRODUCTIVE? AN ANALYSIS USING SPANISH, FRENCH AND ITALIAN FIRM-LEVEL DATA
WHY ARE NISH SMALL FIRMS LESS PRODUCTIVE? AN ANALYSIS USING NISH, FRENCH AND LIAN FIRM-LEVEL DATA Cristina Fernández and Paloma López-García CompNet Workshop Frankfurt, 10-11 December 2012 SERVICIO DE
More informationIntroduction. The usual competitiveness indicators
COMPETITIVENESS INDICATORS: THE IMPORTANCE OF AN EFFICIENT ALLOCATION OF RESOURCES The authors of this article are Aránzazu Crespo Rodríguez, of the Universidad Carlos III, Gabriel Pérez-Quirós, of the
More informationExplaining small firms TFP gap: An analysis with Italian, Spanish and French firm-level data
Explaining small firms TFP gap: An analysis with Italian, Spanish and French firm-level data Cristina Fernández and Paloma Lopez-Garcia CompNet Workshop 20-21 September, Paris SERVICIO DE ESTUDIOS DEL
More informationNew Imported Inputs, Wages and Worker Mobility
New Imported Inputs, Wages and Worker Mobility Italo Colantone Alessia Matano + Paolo Naticchioni Bocconi University + University of Barcelona Roma Tre University and IZA May 15, 2016 Introduction The
More informationExports, R&D and Productivity: A test of the Bustos-model with enterprise data from France, Italy and Spain Wagner, Joachim
Exports, R&D and Productivity: A test of the Bustos-model with enterprise data from France, Italy and Spain Wagner, Joachim Published in: Economics Bulletin Publication date: 2015 Document Version Publisher's
More informationAssessing and Measuring Macroeconomic Imbalances in the EU
Assessing and Measuring Macroeconomic Imbalances in the EU From a Macro to a Micro foundation Carlo Altomonte Bocconi University and Bruegel Rome - 21 May 2011 Altomonte (Bocconi University and Bruegel)
More informationGOING BEYOND LABOUR COSTS: HOW AND WHY STRUCTURAL AND MICRO- BASED FACTORS CAN HELP EXPLAINING EXPORT PERFORMANCE?
GOING BEYOND LABOUR COSTS: HOW AND WHY STRUCTURAL AND MICRO- BASED FACTORS CAN HELP EXPLAINING EXPORT PERFORMANCE? Carlo Altomonte, Filippo di Mauro and Chiara Osbat COMPNET POLICY BRIEF 01/2013 JANUARY
More informationProductivity premia for many modes of internationalization. A replication study of Békés and Muraközy (Economics Letters, 2016)
International Journal for Re-Views in Empirical Economics - IREE Productivity premia for many modes of internationalization. A replication study of Békés and Muraközy (Economics Letters, 2016) Joachim
More informationBANCA D ITALIA E U R O S I S T E M A
Global Value Chain and the Great Recession: Evidence from Italian and German Firms Antonio Accetturo¹, Anna Giunta² (¹Banca d Italia, ² Università Roma Tre) Compnet Meeting Frankfurt, June 25 2013 1 BACKGROUND
More informationDETERMINANTS OF LABOUR PRODUCTIVITY IN MALTA FROM A FIRM-LEVEL SURVEY
DETERMINANTS OF LABOUR PRODUCTIVITY IN MALTA FROM A FIRM-LEVEL SURVEY Article published in the Quarterly Review 2018:3, pp. 43-49 BOX 3: DETERMINANTS OF LABOUR PRODUCTIVITY IN MALTA FROM A FIRM-LEVEL SURVEY
More informationSubmission to Inquiry into Economic Statistics Economy, Jobs and Fair Work Committee, Scottish Parliament
Submission to Inquiry into Economic Statistics Economy, Jobs and Fair Work Committee, Scottish Parliament Written Evidence by Professor Catia Montagna and Dr Daniel Kopasker September 2017 Background We
More informationExport-led innovation: the role of exports destinations.
Paper to be presented at DRUID15, Rome, June 15-17, 2015 (Coorganized with LUISS) Export-led innovation: the role of exports destinations. Claudio Fassio Lund University CIRCLE cla.fassio@gmail.com Abstract
More informationDoes banking relationship configuration affect the risk-taking behavior of French SMEs?
Economics and Business Letters Does banking relationship configuration affect the risk-taking behavior of French SMEs? Ludovic Vigneron 1,* Ramzi Benkraiem 2 1 Université de Valenciennes et du Hainaut-Cambrésis,
More informationIrina Levina. Decentralization of decision-making at the firm: comparative analysis of firms in 7 European countries and Russia.
Irina Levina Institute for Industrial and Market Studies, National Research University Higher School of Economics Decentralization of decision-making at the firm: comparative analysis of firms in 7 European
More informationGlobalisation and data
Globalisation and data What we want and what we have Patrik Gustavsson Tingvall Stockholm School of Economics Statistics Sweden Some time ago, Statistics Sweden asked: What do you think about available
More informationASSESSING COMPETITIVENESS: HOW FIRM-LEVEL DATA CAN HELP
ISSUE 2011/16 NOVEMBER 2011 ASSESSING COMPETITIVENESS: HOW FIRM-LEVEL DATA CAN HELP CARLO ALTOMONTE, GIORGIO BARBA NAVARETTI, FILIPPO DI MAURO AND GIANMARCO OTTAVIANO* Highlights Telephone +32 2 227 4210
More information10 ECB HOW HAVE GLOBAL VALUE CHAINS AFFECTED WORLD TRADE PATTERNS?
Box 1 HOW HAVE GLOBAL VALUE CHAINS AFFECTED WORLD TRADE PATTERNS? In recent decades, global trade has undergone profound changes. Relative to global output, trade has risen sharply and cross-country linkages
More informationIrish firms productivity and Imported Inputs
Irish firms productivity and Imported Inputs Emanuele Forlani Draft August 2012 Abstract In this paper, we investigate the empirical relationship between firms productivity, and imports of intermediate
More informationInnovation, innovation strategy and internationalization of Polish firms: a logit analysis
Innovation, innovation strategy and internationalization of Polish firms: a logit analysis Tomasz Brodzicki University of Gdansk & Institute for Development Dorota Ciołek University of Gdansk European
More informationExport markets as Olympic games: It s not only how high you jump but also whether you jump higher than others!
Export markets as Olympic games: It s not only how high you jump but also whether you jump higher than others! E. Dhyne (BNB, U. Mons), C. Fuss (BNB, ULB), P. Sevestre (Banque de France,U. Paris 1) The
More informationOn the role of imports in enhancing manufacturing exports
UNIVERSITÀ POLITECNICA DELLE MARCHE DIPARTIMENTO DI ECONOMIA On the role of imports in enhancing manufacturing exports Alessia Lo Turco and Daniela Maggioni QUADERNI DI RICERCA n. 363 Comitato scientifico:
More informationAd-hoc Working Group. Round Table. on Mitigation Potentials. Risks and Uncertainties
Presentation by The Kingdom of Saudi Arabia to the Ad-hoc Working Group Round Table on Mitigation Potentials Risks and Uncertainties Bonn May 14, 2007 Mr. Fareed Al-Asaly Content Spillover of implemented
More informationWorld KLEMS initiative
World KLEMS initiative Marcel Timmer Groningen Growth and Development Centre University of Groningen (presentation at World KLEMS conference, Harvard, 9-10 August, 2012) Extensions and applications World
More informationIII.2. Inventory developments in the euro area since the onset of the crisis ( 49 )
III.2 Inventory developments in the euro area since the onset of the crisis III.2. Inventory developments in the euro area since the onset of the crisis ( 49 ) This section analyses the changes in inventory
More informationRethinking the import-productivity nexus for Italian manufacturing
Rethinking the import-productivity nexus for Italian manufacturing Giuliano Conti, Alessia Lo Turco and Daniela Maggioni* August 6, 2012 Abstract We provide evidence on the firm level productivity effects
More informationThe World Input-Output Database (WIOD): Contents and Construction of the Database
This project is funded by the European Commission, Research Directorate General as part of the 7th Framework Programme, Theme 8: Socio-Economic Sciences and Humanities. Grant Agreement no: 225 281 The
More informationDo imports of intermediates promote exports?
Do imports of intermediates promote exports? Alessia Lo Turco and Daniela Maggioni Very Preliminary Version June 2, 2011 Abstract Making use of a large panel dataset on Italian manufacturing firms, we
More informationThe Impact of Innovation on Firm s Trade Margins: Evidence from France
The Impact of Innovation on Firm s Trade Margins: Evidence from France University Nice Sophia-Antipolis April 2015 Introduction Innovation and technological development play a key role in enhancing firms
More informationInternational sourcing and employment effects a micro data linking approach
International sourcing and employment effects a micro data linking approach 8 International sourcing and employment effects a micro data linking approach 8.1 Introduction 8.2 Literature review on international
More informationThe Future of Industry in Europe
The Future of Industry in Europe Michele Alessandrini and Pietro Celotti (t33, Ancona, Italy) CoR Workshop The Future of Industry in Europe Challenges and Instruments for Local and Regional Authorities
More informationStrategy and Performance
Strategy and Performance Ken Platts and Dominic Oughton IfM Briefing Day, Tuesday 21 May 2013 Agenda Overview of the Centre for Strategy and Performance Approaches to strategic analysis An example of a
More informationFirm Heterogeneity in Productivity across Europe. What explains what?
Firm Heterogeneity in Productivity across Europe. What explains what? Francesco Aiello Fernanda Ricotta f.aiello@unical.it f.ricotta@unical.it Department of Economics, Statistics and Finance University
More informationImport Churning and Export Performance of Multi-product Firms
Import Churning and Export Performance of Multi-product Firms Jože P. Damijan* Jozef Konings** Saso Polanec*** *University of Ljubljana, Slovenia; and Vives; Leuven, Belgium ** University of Leuven, and
More informationVolume 38, Issue 1. Are export promotion programs efficient for small and medium enterprises? Bruno Karoubi Université Paris Est Créteil
Volume 38, Issue 1 Are export promotion programs efficient for small and medium enterprises? Bruno Karoubi Université Paris Est Créteil Marjorie Lecerf Paris School of Business Gael Bertrand Essca School
More informationGlobal Value Chains, Innovation, and Performance: Firm-Level Evidence from the Great Recession
Global Value Chains, Innovation, and Performance: Firm-Level Evidence from the Great Recession Emanuele Brancati 1, Raffaele Brancati 2, and Andrea Maresca 2 1 LUISS Guido Carli and MET 2 MET December
More informationStudy on Employment, Growth and Innovation in Rural Areas (SEGIRA)
Study on Employment, Growth and Innovation in Rural Areas (SEGIRA) ANNEX - Agro-industrial development Client: European Commission, Directorate-General for Agriculture and Rural Development ECORYS Nederland
More informationMonitoring sustainability of Dutch agriculture Lessons learned. Koen Boone, ICAS V, Kampala, 15 October
Monitoring sustainability of Dutch agriculture Lessons learned Koen Boone, ICAS V, Kampala, 15 October Content Project Themes and indicators Results Lessons learned Monitoring sustainability of Dutch agriculture
More informationGLOBALIZATION AND SOCIAL SUSTAINABILITY THE FORESTRY & WOOD INDUSTRY ON THE MOVE Tripartite meeting, Geneva, September 2001
GLOBALIZATION AND SOCIAL SUSTAINABILITY THE FORESTRY & WOOD INDUSTRY ON THE MOVE Tripartite meeting, Geneva, 17-21 September 2001 Peter Poschen & Mattias Lövgren Forestry and Wood Industries, ILO International
More informationThe nature of offshoring of business services and its labour market consequences. Karolina Ekholm Stockholm University
The nature of offshoring of business services and its labour market consequences Karolina Ekholm Stockholm University What is special about trade in business services? Low frictions IT has led natural
More informationLinks between global agriculture and food value chains and jobs and growth
Links between global agriculture and food value chains and jobs and growth Jared Greenville Trade and Agriculture Directorate, OECD DG AGRI Workshop on Socioeconomic issues 9 June 2017 Agro-food trade
More informationEngaging Small and Medium Enterprises in Production Networks
Engaging Small and Medium Enterprises in Production Networks Firm-level Analysis of Five ASEAN Economies Ganeshan Wignaraja Director of Research Asian Development Bank Institute gwignaraja@adbi.org ADBI-Graduate
More informationWorld KLEMS initiative: the future
World KLEMS initiative: the future Marcel Timmer Groningen Growth and Development Centre University of Groningen (presentation at World KLEMS conference, Harvard, 9-10 August, 2012) World KLEMS Aim of
More informationPath Dependence in Clean Versus Dirty Innovation. College de France 29 October 2015
Path Dependence in Clean Versus Dirty Innovation College de France 29 October 2015 MOTIVATION Climate change Policies Main climate change models (e.g. Nordhaus, Stern) assume exogenous technology Then
More informationR&D in WorldScan. Paul Veenendaal. CPB Netherlands Bureau for Economic Policy Analysis. R&D in WorldScan
Paul Veenendaal CPB Netherlands Bureau for Economic Policy Analysis WorldScan General equilibrium (micro foundations) Interaction: markets, countries and sectors (GTAP-7 classifications) Recursively dynamic
More informationExportVersusFDI with Heterogeneous Firms
ExportVersusFDI with Heterogeneous Firms By ELHANAN HELPMAN, MARC J. MELITZ, AND STEPHEN R. YEAPLE Empirical Topics in the Economics of Location and Trade Prof.Brülhart Seminar Presentation Matthias Rieger
More informationRussian Federation. Export Diversification through Competition and Innovation: Overview THE WORLD BANK. April, Public Disclosure Authorized
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized - THE WORLD BANK Russian Federation Export Diversification through Competition and Innovation:
More informationThe Dynamics of Trade and Competition
The Dynamics of Trade and Competition July 2007 Natalie Chen Warwick & CEPR Jean Imbs HEC Lausanne, SFI & CEPR Andrew Scott LBS & CEPR Globalization and the Macroeconomy, ECB 23-24 July 2007 Romer s Figure
More informationDecomposing Services Exports Adjustments along the Intensive and Extensive Margin at the Firm-Level
Seminar in International Economics 26 February 2015 Decomposing Services Exports Adjustments along the Intensive and Extensive Margin at the Firm-Level Elisabeth Christen (with Yvonne Wolfmayr and Michael
More informationThe Innovation Union Scoreboard: Monitoring the innovation performance of the 27 EU Member States
MEMO/12/74 Brussels, 7 February 2012 The Innovation Union Scoreboard: Monitoring the innovation performance of the 27 EU Member States This MEMO provides an overview of the research and innovation performance
More informationPolicy Note August 2015
Unit Labour Costs, Wages and Productivity in Malta: A Sectoral and Cross-Country Analysis Brian Micallef 1 Policy Note August 2015 1 The author is a Senior Research Economist in the Bank s Modelling and
More informationDETERMINANTS OF EXPORT PROPENSITY AND PERFORMANCE: EVIDENCE FROM TURKISH FIRM-LEVEL DATA
DETERMINANTS OF EXPORT PROPENSITY AND PERFORMANCE: EVIDENCE FROM TURKISH FIRM-LEVEL DATA Elif Akben Selçuk Kadir Has University, Faculty of Economics, Administrative and Social Sciences, Turkey. e-mail:elif.akben@khas.edu.tr
More informationExport Promotion Agencies
Toolkit Business Advice Export Promotion Agencies What are they and what do they aim to do? Export promotion agencies (EPAs) provide services that aim to help firms sell their products overseas. EPA services
More informationThe impact of electricity prices on jobs and investment in the Belgian manufacturing industry
The impact of electricity prices on jobs and investment in the Belgian manufacturing industry Gert Bijnens, Joep Konings & Stijn Vanormelingen, KU Leuven Press conference, 27 March 218 Belgium is losing
More informationFinancial crisis, internationalization choices and Italian firm survival
MPRA Munich Personal RePEc Archive Financial crisis, internationalization choices and Italian firm survival Stefano Costa and Carmine Pappalardo and Claudio Vicarelli ISTAT, Italian National Institute
More informationPhysical Productivity and Exceptional Exporter Performance: Evidence from a Chinese Production Survey
Physical Productivity and Exceptional Exporter Performance: Evidence from a Chinese Production Survey Yao Amber Li 1 Valerie Smeets 2 Frederic Warzynski 2 1 Hong Kong University of Science and Technology
More informationFIRM COMPETITIVENESS DETERMINANTS: RESULTS OF A PANEL DATA ANALYSIS TIBOR LALINSKY
FIRM COMPETITIVENESS DETERMINANTS: RESULTS OF A PANEL DATA ANALYSIS TIBOR LALINSKY WORKING PAPER 4/2013 National Bank of Slovakia www.nbs.sk Imricha Karvaša 1 813 25 Bratislava research@nbs.sk December
More informationManagement Practice and Productivity: Why They Matter
Management Practice and Productivity: Why They Matter Stephen Dorgan, McKinsey & Company John Dowdy, McKinsey & Company Nick Bloom, Stanford University and Centre for Economic Performance John Van Reenen,
More informationMicro foundations of macro data: increasing data quality and exploiting the true wealth of NSIs. Enrico Giovannini
Micro foundations of macro data: increasing data quality and exploiting the true wealth of NSIs Enrico Giovannini For decades... the main outputs of National statistical offices (NSIs) have been macrodata
More informationThe Portrait of Success: Firms in International Trade. Abstract
The Portrait of Success: Firms in International Trade Very Preliminary and Incomplete July 2015 Adriana Peluffo* Abstract This article sets a portrait of firm heterogeneity associated with international
More informationAre firms exporting to China and India different from other exporters?
Are firms exporting to China and India different from other exporters? Giorgio Barba Navaretti, Matteo Bugamelli, Riccardo Cristadoro and Daniela Maggioni Abstract This chapter asks if and why advanced
More informationMAPPING COMPETITIVENESS
MAPPING COMPETITIVENESS ineurope: A questfornewmeaures Gábor Békés Hungarian Academy of Sciences, Central European University& CEPR Banque de France, Paris, 16 December 2015 Compétitivité française : nouveaux
More informationTrade in Intermediate Goods, Armington Elasticity and Exchange Rate Pass-through. Fumihide TAKEUCHI Tokai University (Japan)
Trade in Intermediate Goods, Armington Elasticity and Exchange Rate Pass-through Fumihide TAKEUCHI Tokai University (Japan) 1 What is an exchange rate pass-through (ERPT)? Effect of exchange rate changes
More informationEstimating Infrastructure s s Potential as a Catalyst for Asian Regional Integration, Growth, and Economic Convergence
Estimating Infrastructure s s Potential as a Catalyst for Asian Regional Integration, Growth, and Economic Convergence David Roland-Holst, UC Berkeley joint work with Ifzal Ali and Fan Zhai,, ADB presented
More informationImporters, Exporters and Exchange Rate Disconnect. Mary Amiti (New York Federal Reserve Bank) Oleg Itskhoki (Princeton) Jozef Konings (Leuven & NBB)
Importers, Exporters and Exchange Rate Disconnect Mary Amiti (New York Federal Reserve Bank) Oleg Itskhoki (Princeton) Jozef Konings (Leuven & NBB) Motivation Large movements in exchange rates have small
More informationMAPPING GLOBAL VALUE CHAINS AND MEASURING TRADE IN TASKS MOTIVATIONS AND ANNOTATED OUTLINE HUBERT ESCAITH, WTO JUNE 2013
MAPPING GLOBAL VALUE CHAINS AND MEASURING TRADE IN TASKS MOTIVATIONS AND ANNOTATED OUTLINE HUBERT ESCAITH, WTO JUNE 2013 MOTIVATION - PROVIDE THE BIG PICTURE - LOOK AT THE ROAD MAP Why? Offer a Synthesis
More informationTHE JOINT IMPACT OF THE EUROPEAN UNION EMISSIONS TRADING SYSTEM ON CARBON EMISSIONS AND ECONOMIC PERFORMANCE
THE JOINT IMPACT OF THE EUROPEAN UNION EMISSIONS TRADING SYSTEM ON CARBON EMISSIONS AND ECONOMIC PERFORMANCE Antoine Dechezleprêtre (with Daniel Nachtigall & Frank Venmans) OECD Economics Department &
More informationInnovation, Productivity and Exports: Firm-Level Evidence from Malaysia
Innovation, Productivity and Exports: Firm-Level Evidence from Malaysia Cassey Lee Nottingham University Business School University of Nottingham Malaysia Campus Working Paper Series Vol. 2008-06 March
More informationPrice and Wage Rigidities in the Republic of Macedonia: Survey Evidence from Micro-Level Data. Magdalena Petrovska Florian Huber
Price and Wage Rigidities in the Republic of Macedonia: Survey Evidence from Micro-Level Data Magdalena Petrovska Florian Huber This paper exploits the information collected from an ad hoc survey conducted
More informationInternationalisation modes of European firms
EFIGE IS A PROJECT DESIGNED TO HELP IDENTIFY THE INTERNAL POLICIES NEEDED TO IMPROVE EUROPE S EXTERNAL COMPETITIVENESS Gábor Békés and Balázs Muraközy Internationalisation modes of European firms EFIGE
More informationVolume 35, Issue 2. Export status and firm growth of European SMEs
Volume 35, Issue 2 Export status and firm growth of European SMEs Martin Falk Austrian Institute of Economic Research (WIFO) Eva Hagsten Statistics Sweden Abstract This paper provides new evidence on the
More informationInternational Competition and Firm Performance. Evidence from Belgium
International Competition and Firm Performance. Evidence from Belgium Jan De Loecker, Catherine Fuss and Jo Van Biesebroeck Princeton, NBB and KU Leuven October 16 2014 NBB Conference TFP Competition and
More informationDownward Nominal Wage Rigidity in Services: Direct Evidence from a Firm Survey
DISCUSSION PAPER SERIES IZA DP No. 3923 Downward Nominal Wage Rigidity in Services: Direct Evidence from a Firm Survey Daniel Radowski Holger Bonin January 2009 Forschungsinstitut zur Zukunft der Arbeit
More informationMeasurement of Global value Chains and International Sourcing
Measurement of Global value Chains and International Sourcing Working Party on Globalisation of Industry May 19, 2011 Pekka Alajääskö 22/03/2011 International Sourcing survey International Sourcing micro
More informationMisthinking Globalisation. Richard Baldwin Graduate Institute, Geneva & University of Oxford
Misthinking Globalisation Richard Baldwin Graduate Institute, Geneva & University of Oxford Conventional view of globalisation Autarky to free trade, slowly. Several waves, but single process. 1870 1990:
More informationIPTS Steering Workshop on "Industrial Research and Innovation" SUMMARY
IPTS Steering Workshop on "Industrial Research and Innovation" Date: 14-15 June 2012 Venue: JRC-IPTS Room A30 1 st floor SUMMARY Introduction The main aim of the Workshop was to present and discuss, with
More informationManaging Trade: Evidence from China and the US
Managing Trade: Evidence from China and the US Nick Bloom, Stanford Kalina Manova, Stanford and Oxford Stephen Sun, Peking University John Van Reenen, LSE Zhihong Yu, Nottingham SCID / IGC : Trade, Productivity,
More informationNon-technical Innovations Definition, Measurement & Policy Implications. The new service economy: growth and implications for service innovation
Karlsruhe, October 2008 Non-technical Innovations Definition, Measurement & Policy Implications The new service economy: growth and implications for service innovation Professor of Economic Policy, University
More informationFDI, EXPORT SPILLOVER AND FIRM HETEROGENEITY: AN APPLICATION TO THE INDIAN MANUFACTURING CASE. Chiara Franco * and Subash Sasidharan
FDI, EXPORT SPILLOVER AND FIRM HETEROGENEITY: AN APPLICATION TO THE INDIAN MANUFACTURING CASE Chiara Franco * and Subash Sasidharan Asian Business and Economics Research Unit Discussion Paper DEVDP 09-06
More informationThe Internationalisation of R&D and the Knowledge Production Function
The Internationalisation of R&D and the Knowledge Production Function by María García-Vega * School of Economics, University of Nottingham GEP, CESIfo Patricia Hofmann Institute of Economics, University
More informationForeign Affiliates in the French Manufacturing Industry: Source or Recipient of Technology Spillovers?
Foreign Affiliates in the French Manufacturing Industry: Source or Recipient of Technology Spillovers? Liza JABBOUR * Jean Louis MUCCHIELLI ** Abstract Technological sourcing is becoming an important motivation
More informationIdentification of Content of International Benchmarking and Field Survey
Identification of Content of International Benchmarking and Field Survey 1. Objectives of the Project The main objective of the project is to boost TFP in the Turkish manufacturing industry by focusing
More informationCompetitiveness: a micro-perspective. 4 Key Facts. Hylke Vandenbussche, University of Leuven
Competitiveness: a micro-perspective 4 Key Facts Hylke Vandenbussche, University of Leuven CONTENTS Fact 1: Competitiveness and Unit Labor Cost at firm-level: a strong link? Fact 2: Competitiveness: Productivity
More informationEuropean Commission Directorate General for Enterprise and Industry, Directorate B. WorldScan & MIRAGE. Model structure and application
European Commission Directorate General for Enterprise and Industry, Directorate B WorldScan & MIRAGE Model structure and application EPC LIME Working Group Modelling Workshop 3 rd May 2007, Brussels Peter
More informationImport, Export and Multinationality. Evidence from Swedish Firms
Discussion Paper Import, Export and Multinationality. Evidence from Swedish Firms November 2016 Davide Castellani Henley Business School, University of Reading, UK Claudio Fassio CIRCLE, Lund University,
More informationA global view on the future of work. Irmgard Nübler Research Department International Labour Organisation Geneva
A global view on the future of work Irmgard Nübler Research Department International Labour Organisation Geneva ILO initiative on the future of work Centenary Project 1 2 3 Four conversations around the
More informationAccounting for Innovation and Measuring Innovativeness: An Illustrative Framework and an Application
Accounting for Innovation and Measuring Innovativeness: An Illustrative Framework and an Application By JACQUES MAIRESSE AND PIERRE MOHNEN* The purpose of this paper is to propose and illustrate an accounting
More informationRethinking the import-productivity nexus for Italian manufacturing: do exports matter?
Rethinking the import-productivity nexus for Italian manufacturing: do exports matter? Giuliano Conti, Alessia Lo Turco and Daniela Maggioni 25 agosto 2011 Abstract We provide evidence on the firm-level
More informationManagement and the Wealth of Nations
Management and the Wealth of Nations John Van Reenen December 7 th 2017 World Bank Empirical Management Conference Based on joint work with Nick Bloom (Stanford), Renata Lemos (World Bank), Danielle Scur
More informationGRI Sustainability Reporting Statistics Publication year By Report Services
GRI Sustainability Reporting Statistics Publication year 2010 By Report Services GRI reports 1999-2010 2000 1800 1600 1400 1200 1000 800 600 400 200 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
More informationDeterminants of innovation diffusion in the EU: A microeconometric analysis of firms innovation adoption choices 1
WP4/09 SEARCH WORKING PAPER Determinants of innovation diffusion in the EU: A microeconometric analysis of firms innovation adoption choices Corinne Autant-Bernard, Jean-Pascal Guironnet, Nadine Massard
More informationWe shall analyze the impact on exports as well as imports.
Using shifts in supply and demand curves, describe how a change in the exchange rate affected your industry. Label the axes, and state the geographic, product, and time dimensions of the demand and supply
More informationSectoral Employment Analysis In The Region; Policy Recommendations For Regional Employment Generation
Sectoral Employment Analysis In The Region; Policy Recommendations For Regional Employment Generation Professor David Smallbone Small Business Research Centre Kingston University, London Structure of Presentation
More informationExporting status and success in innovation: Evidence from Community Innovation Survey micro data for EU countries
Working Paper Series Serie 2 International economic relations of the CEE countries Paper No. 2.06 Exporting status and success in innovation: Evidence from Community Innovation Survey micro data for EU
More informationIntangible Assets and the Organization of Global Supply Chains
Intangible Assets and the Organization of Global Supply Chains Stefano Bolatto University of Bologna Alireza Naghavi University of Bologna Gianmarco Ottaviano LSE & University of Bologna Katja Zajc Kejžar
More informationPapers in Innovation Studies
Import, Export and Multinationality Evidence from Swedish Firms Davide Castellani (d.castellani@henley.ac.uk) Henley Business School, University of Reading, UK Claudio Fassio (claudio.fassio@circle.lu.se)
More informationExporters stargate: supplying multinationals and entry into new markets
Exporters stargate: supplying multinationals and entry into new markets Matej Bajgar, Beata Javorcik May 9, 2013 Abstract While trade economists have made substantial progress in describing firm-level
More informationCarbon Intensity Changes in the Asian Dragons. Lessons for climate policy design.
Carbon Intensity Changes in the Asian Dragons. Lessons for climate policy design. Miguel Rodríguez http://webs.uvigo.es/miguel.r Yolanda Pena Universidade de Vigo & rede (Research in Energy, Innnovation
More information