企业出口与生产率的关系——基于中国工业企业数据的实证研究

采用1998—2007年中国工业企业数据,对出口与生产率的关系进行了再探讨,具体研究了出口企业是否具有更高的生产率、企业在做出口决策的过程中是否存在自我选择机制以及出口行为本身是否能促进企业生产率的增长。研究结果显示:当用TFP衡量生产率时,企业出口决策中存在自我选择机制,因此出口企业的生产率相对较高——这与异质企业贸易模型的预期结果一致;当用劳动生产率(人均附加值)衡量企业生产率时,则"生产率悖论"存在,即出口者的生产率反而较低;当企业刚进入出口市场时,其生产率会经历短期的快速增长,但从长期来看,出口对企业生产率增长的作用在整体上是负向的。     

Productivity Performance of Export Market Entry and Exit: Evidence from Indian Firms

This paper contributes to the literature on exporting and firm productivity, focusing on export entry (efficiency), learning (post‐entry growth) and exit (inefficiency) by Indian firms. Drawing on 7000 firms during 1989–2009, our main objective is to examine the effect of exporting on firm productivity, correcting for selection bias using propensity‐score matching, which allows a “like‐for‐like” comparison between new exporters and nonexporters. Robust to different matching estimators, we find evidence of learning‐by‐exporting that new exporters acquire rapid productivity growth after entry, relative to nonexporters. We also find that (1) exporters are more productive than nonexporters; (2) productive firms tend to self‐select in entering the exporting market, and (3) least productive exporters are found to exit the export market as they experience adverse productivity effect prior to the year of exit. Our robust result on learning‐by‐exporting suggests that entering export market does appear to be a channel explaining the Indian recent growth miracle.     

企业出口之动态效应研究-来自中国制造业企业的经验:2001-2007

本文对中国企业的出口选择及其学习效应进行研究。结果表明:中国同样存在优质企业做出口的现象;出口会迅速实现企业的规模扩张;出口企业通过出口学习会给企业带来生产率的短期提高,而后出现动态衰减。我们的研究启示是:依附低端制造和外生出口贸易中介的中国企业,通过进入国际市场虽然取得了规模上的快速扩张,但在效率提升上却收获甚微,动态地来看,中国做出口的优质企业可能会演变为更劣质的企业。     

THE RELATIONSHIP BETWEEN EXPORT STATUS AND PRODUCTIVITY IN SERVICES: A FIRM‐LEVEL ANALYSIS FOR SPAIN

This paper analyses the relationship between export status and productivity in a major service exporter, Spain, during 2001–07. I find that exporters in the services sector are 45 percent more productive than non‐exporters. This productivity premium is larger for firms that supply non‐internet‐related services than for firms that supply internet‐related services. The results show that exporters were more productive than non‐exporters before beginning to export, and also that exporting increases productivity growth; however, this positive shock vanishes quickly.     

Does Exporting Increase Productivity? A Microeconometric Analysis of Matched Firms

Exporting involves sunk costs, so some firms export whilst others do not. This proposition derives from a number of models of firm behavior and has been exposed to microeconometric analysis. Evidence from the latter suggests that exporting firms are generally more productive than nonexporters. They self‐select, in that they are more productive before they enter export markets, but the evidence suggests that entry does not make them any more productive. This paper investigates exporting and firm performance for a large panel of UK manufacturing firms, applying matching techniques. The authors find that exporters are more productive and they do self‐select. In contrast to other evidence, however, exporting further increases firm productivity.     

Learning‐by‐Exporting Revisited: The Role of Intensity and Persistence*

Two non‐mutually exclusive hypotheses can explain the empirically established export premium: self‐selection of more productive firms into export markets and learning‐by‐exporting. This paper focuses on how the temporal dimension of firms' exporting activities and the intensity of exports influence the scope of learning effects. Using a panel of Swedish firms and dynamic generalized method of moments estimation, we find a learning effect among persistent exporters with high export intensity, but not among temporary exporters or persistent exporters with low export intensity. For small firms, exports boost productivity among persistent exporters with both high and low export intensity, but the effect is stronger for persistent export‐intensive small firms.     

The Impact of Exporting and Export Destination on Manufacturing Wages: Evidence for Sub-Saharan Africa

This paper investigates wage effects of trade status of African firms. Using data for manufacturing firms, we find a positive overall association between individual earnings and export status. Moreover, the skill wage premium in exporting firms is significantly higher. These results are consistent with either trade inducing higher wages in the exporting country, or with more productive (higher wage) firms self‐selecting into exporting. The results are not robust, however, to disaggregation by export destination. Exporting to outside Africa generates a negative wage premium whereas exporting to African markets yields a positive premium in export firms of the exporting country. This suggests that there is a disciplining effect on the wages of exporting firms only when exporting is to more competitive markets.     

Intra‐firm trade,exporting, importing,and firm performance

Abstract This paper examines firm heterogeneity in terms of size, wages, capital intensity, and productivity between domestic and foreign‐owned firms that engage in intra‐firm trade, firms that export and import, firms that import only, and firms that export only. As previously documented, heterogeneity between different groups of trading firms is substantial. Taking into account intra‐firm trade in addition to exporting and importing yields new insights into the productivity advantage previously established for exporting firms. The results presented here show that this premium accrues only to exporters that also import and to exporters that also engage in intra‐firm trade, but not to firms that export only. Using simultaneous quantile regressions, the paper illustrates that heterogeneity within different groups of trading firm is equally large. Some of this within‐group heterogeneity can be attributed to differences in trading partners.     

A theory on the role of wholesalers in international trade based on economies of scope

This paper offers a theoretical foundation for the existence of wholesalers and other intermediaries in international trade and analyzes their role in an economy with heterogeneous manufacturing firms and fixed costs of exporting. Wholesalers are assumed to possess a technology such that they can buy manufacturing goods domestically and sell in foreign markets and they can, unlike manufacturers, export more than one good. A wholesaler therefore faces an additional fixed cost, which increases in the number of goods it handles. The presence of wholesale firms leads to productivity sorting. The most productive firms export on their own by paying a fixed cost, but a range of firms with intermediate productivity levels export through international wholesalers. A higher fixed cost of exporting to a destination means that wholesalers handle: (i) a higher share of total export volumes to this destination and (ii) a higher share of the exported product scope (i.e., the number of exported products) to this destination. A higher fixed cost of exporting gives wholesalers a larger role, since these can spread the fixed cost across more than one good. The wholesale technology therefore exhibits economies of scope. An empirical analysis using Swedish firm‐level data supports the main assumption and predictions of the model.     

基于中国经验重构新新贸易理论的分析框架

异质性企业贸易模型是新新贸易理论的基本分析框架,该模型从企业生产率异质性角度分析企业出口的决定因素,得到企业拥有高生产率是保证其出口的重要条件,从而出口企业的生产率要高于内销企业的结论。不过,对中国企业的经验研究却发现,出口企业的生产率未必高于内销企业,甚至低于内销企业,即中国出口企业存在"生产率悖论"。目前,对于"生产率悖论"的研究主要集中于经验分析,并没有提出一个合理解释该现象的理论模型。文章从扩展异质性企业贸易模型的角度,建立了一个旨在解释"生产率悖论"的数理模型。尽管该模型对"生产率悖论"具有解释作用,但是并没有否定生产率对企业出口的作用。文章进一步使用较新的LP方法计算了中国制造业企业的生产率并运用统计法检验了出口企业"生产率悖论"的存在性,检验结果表明中国制造业大部分行业不存在"生产率悖论"。总之,文章研究认为生产率只是企业出口的一个必要条件而不是充分条件,这也重新构建了新新贸易理论的分析框架。     

Exporters in cross‐section: Direct versus intermediated trade

How do producers that export their goods directly differ from those that export through trade intermediaries? We take a standard model of trade with heterogeneous firms and add heterogeneity in quality to the usual heterogeneity in productivity. Modeling trade intermediaries as increasing marginal costs but decreasing fixed costs of exporting, we find that only firms with the highest quality‐adjusted productivity levels choose to export directly. Under certain parameter restrictions, the model shows that direct exporters tend to be larger and charge higher prices for their goods. In contrast to the literature, using Chinese customs data, we confirm that direct exporters do charge higher prices for their goods.     

Firm exit,technological progress and trade

The dynamics of export market exit and firm closure have found limited attention in the new heterogeneous-firms trade literature. In fact, several of the predictions on firm survival and exit stemming from this new class of models are at odds with the stylized facts. Empirically, higher productivity firms survive longer, most firm closures are young firms, higher productivity exporters are more likely to continue to export compared to less productive exporters and market exits as well as firm closures are typically preceded by periods of contracting market shares. The present paper shows that the simple inclusion of exogenous economy wide technological progress into the standard Melitz (2003) model generates a tractable dynamic framework that generates endogenous exit decisions of firms in line with the stylized facts. Furthermore, we derive the effects of faster technological progress and trade liberalization on export market exit and firm closure.     

Not so different from non-traders

This paper uses a unique, comparable firm-level dataset covering more than 80 developing middle-income economies to provide a novel set of stylized facts on firms engaging in international trade, focusing on the Middle East and North Africa (MENA) region. We show that firms in MENA are more likely to export and/or import than their counterparts elsewhere. However, we only find the expected positive and significant productivity premia for exporters outside of MENA. While MENA's larger exporters are indeed more productive than non-exporters, a large share of exporters – the comparatively low-volume ones – are not. We also confirm positive and significant size and productivity premia for manufacturers that import only, with productivity premia in MENA at least double of those in middle-income economies elsewhere. In contrast, we find no size or productivity premia for MENA's manufacturers that export, but do not import. These patterns are consistent with substantial distortions in the relative fixed and variable costs of trading, likely a reflection of selectively applied policies.     

Does export and productivity growth linkage exist? Evidence from the Indian manufacturing industry

This paper examines the interrelation between exporting and productivity performance by using a representative sample of Indian manufacturing firms over the period 1994–2006. Specifically, we attempt to test the empirical validity of the learning‐by‐exporting and the self‐selection hypotheses for our sample firms. In order to investigate the linkage, in the first step, we test for causality between TFP and export intensity of firms. Although overall results are rather mixed and provide some support for both hypotheses, still the empirical results are more favorable for the self‐selection behavior of firms. In the next stage, we attempt to provide evidence on export and productivity linkage that occurs during various phases of transition in the export market. Our results suggest that entering in the export market does not improve productivity performance. However, the decision to exit from the export market does have an adverse effect on the productivity. In addition, our results indicate the presence of a high sunk cost of exporting coupled with perhaps lesser information about foreign markets. Finally, our results also lend some support to the significant role of in‐house research activities and economies of scale in firms' productivity performance.     

Exchange rates and trade: How important is hysteresis in trade?

This paper looks at the responsiveness of a country's export supply to exchange rate changes and measures its quantitative importance by breaking down export adjustments between changes in output levels by existing exporters (intensive margin) and movements due to changes in the number of exporters (extensive margin). Using data on a representative sample of Spanish manufacturing firms, the paper finds sunk costs hysteresis in entry and exit to be an important factor in determining export market participation, but unrelated to exchange rate uncertainty. The sunk costs of entering the market appear to be much larger than the costs of exiting the market. Finally, although hysteresis exists, its effect on the responsiveness of aggregate trade volumes to exchange rate changes is quantitatively small. A 10% home currency depreciation results in an increases in export volume due to the increase in the number of exporting firms of only 1.4% of export volume.     

Productivity, exporting, and the learning-by-exporting hypothesis: direct evidence from UK firms

Abstract.  Case studies suggest exporters learn from clients. Econometric evidence is mixed. We use firm-level panel data on exporting and productivity with direct information on learning sources, including clients. We find: (a) firms who exported in the past are likely to learn more from clients (relative to other sources); (b) firms who learned from clients in the past are more likely to have faster productivity growth; (c) the reverse is not the case; that is, past productivity growth is not associated with more learning from clients and past learning from clients is not associated with more exporting. These results are consistent with the learning-by-exporting hypothesis.     

出口强度、资本密集度对中国出口企业自选择效应和学习效应的影响

现有研究关于出口企业自选择效应和学习效应的检验常常忽视企业的微观特征。本文通过对中国大样本微观面板数据进行统计分析和计量检验表明：国内出口企业存在生产率的静态优势,不存在“生产率悖论”。总体层面上,出口企业存在自选择效应,并且这种自选择效应对各种所有制企业和不同资本密集度企业均存在。在考虑国内外市场进入成本的情况下,高生产率的企业选择同时进入国内外两个市场,表现出自选择效应;而低生产率、高出口强度的企业选择进入国外市场,不存在自选择现象。,此外,短期内持续出口企业的学习效应为负,并且各种所有制企业的学习效应稳健为负,怛高资本密集度企业的出口学习负效应能快速扭转为正,出口强度低于50％的企业学习效应显著为正。     

Regional variations in exporters’ productivity premium: Theory and evidence

The international trade literature confirms that the average productivity of exporters is higher than that of nonexporters, while economic geography studies establish that urban firms tend to be more productive than rural ones. By introducing region‐specific transportation costs in a Melitz‐type heterogeneous‐firm trade model, the theory predicts that the minimum threshold productivity level for export is higher but that for survival by serving the local market is lower in the periphery region than in the core. Using Japanese plant‐level panel data, we find evidence supporting the theoretical prediction that exporters in the peripheral regions, especially those distant from the core, have large productivity premiums.     

Inequality,public good provision and the composition of trade

This paper investigates the effect of trade liberalization on the provision of public goods and shows that inequality also plays a vital role here. Public goods help enhance the productivity of firms, lower prices and raise profitability. The provision of public goods has different effects in closed and open economies. In an open economy, the impact of productive spending on increasing profit is stronger. Consequently, the opening up of the economy shifts the benefits of productive public goods from consumers to firms. As the median voters’, share of the firm’s profit rises, public goods become more appealing and flourish. Consequently, the manufacturing export is boosted by a rise in productivity.     

Financing constraints,firm dynamics,export decisions,and aggregate productivity

We present a dynamic model in which firms accumulate wealth to avoid bankruptcy and to overcome financing constraints that affect their fixed operational costs and the costs of becoming an exporter. Financing constraints not only affect firms directly when they are binding, but also indirectly, through precautionary saving and the selection of firms via entry and exit of the domestic and export markets. We calibrate the model and test some of its predictions using a rich dataset of Italian manufacturing firms for the period 1995–2003. Financing constraints reduce the aggregate productivity gains induced by trade liberalization by 25 percent by distorting the incentives of the most productive firms to self-select into exporting.