融入产品内国际分工体系如何影响企业出口的二元边际——基于两步系统动态GMM估计方法的研究

本文利用WIOD的宏观投入产出数据和大样本微观企业合并数据, 采用两步系统动态GMM估计方法分析融入产品内国际分工体系对我国企业出口二元边际的影响.研究结果发现, 融入全球产品内分工体系显著促进企业集约边际的增长, 但没有促进扩展边际的增长; 融入全球产品内分工体系促进加工贸易企业及港澳台、 外资企业集约边际的扩张, 抑制国有和集体企业扩展边际的增长.     

进口竞争与多产品企业出口二元边际

运用2000~2006年中国工业数据库和海关数据库的匹配面板数据,本文研究了进口竞争与多产品企业出口二元边际的关系。研究发现:(1)进口竞争显著提高了多产品企业出口的集约边际和扩展边际,且对集约边际的促进作用更强;(2)区分贸易类型的研究发现,相比于一般贸易,进口竞争对加工贸易的边际促进效应更加显著;(3)分行业回归的结果表明,具有比较优势的行业,进口竞争对出口边际的促进效应更为显著。使用系统GMM模型控制可能存在的内生性,发现进口竞争对集约边际和扩展边际的促进作用依然稳健。     

Does exposure to dogs (cows) increase the preference for Puma (the colour white)? Not always

Recently, Berger, & Fitzsimons (2008) showed that conceptual fluency effects could spread to concepts sharing a second-level relation (e.g., priming “dog” can activate “cat,” which can increase the evaluation of the brand Puma). In three laboratory studies we found weak evidence for the above priming effects on related concepts. However, in a population sample, we did find evidence that repeated exposure to a prime is associated with preference for related brands and products.     

Export diversification,margins and economic growth at industrial level: Evidence from Thailand

This paper examines the relationship between export diversification, export margins and economic growth at the industry level using Thailand as a case study during 2002–16. Our results show that the effects of export diversification and margins on economic growth vary across industries. Export diversification helps boost growth only in some sectors, including electronics, automotive and chemicals, plastic and rubber, while in the processed food, and textiles and apparel industries, specialisation matters more in promoting growth. In almost all industries, a non-linear relationship between diversification and economic growth is not revealed, except in textiles and apparel. The diversification is crucial in enhancing the impact of exports on growth only in the processed food and textiles and apparel industries. Expansion of intensive margins plays an important role in boosting growth in key industries within Thailand. The role of extensive margins, both in terms of new products and new market destinations, in promoting economic growth is limited. For extensive margins (new products), it is found to be significant in boosting economic growth only in processed food and textiles and apparel, while in the case of extensive margins (new market destinations), its significance in boosting growth is revealed only in the electronics sector.     

The importance of heterogeneity in determining the effects of preferential trade agreements on Foreign Direct Investment

This paper investigates the importance of PTA formation in attracting inflows of foreign direct investment (FDI). In particular, we examine the heterogeneous effects of different types of PTAs (FTAs or CUs) on the extensive and intensive margins of FDI and on how the interdependence among various PTAs may affect a country's ability to attract FDI inflows. We find that the larger the preferential markets to which a country has access, the larger the FDI inflows the country receives. Furthermore, we find that the type of PTA matters in determining FDI inflows. In this case, we find that the formation of CUs tends to promote more FDI inflows than the formation of FTAs. Our findings also indicate that the formation of PTAs significantly affects FDI through the intensive margin, rather than through the extensive margin. Importantly, notice that these effects are driven by the preferential markets to which a country has access and that have not established a PTA with the FDI-originating (home) country, confirming that PTA interdependence matters in determining FDI inflows.     

The High-Value Commodity Export Effects of Standards in Africa

ABSTRACT

The stringency in standards usage, especially in developed markets, has trade effects, particularly for Africa. Thus, this study investigated the export effects of the EU standards for Africa in a two-step, Helpman et al. (2008) model for two high-value commodities. In all, 52 African countries were considered from 1995 to 2012. This study finds that fish standards are trade enhancing at the extensive margins, but not at the intensive margins. However, vegetable standards are trade inhibiting at both the extensive and intensive margins. Thus, these findings suggest that the impacts of standards on exports are commodity-specific.     

Understanding and breaking the rules of business: Toward a systematic four-step process

Knowing the rules of a business is a prerequisite of being successful. On the other hand, carefully and selectively breaking the rules of management is often the way to exceed the low margins of intensively competitive arenas, especially at a time when technological innovation is limited and industries are tending to consolidate. Drawing on their own practical know-how and intensive research into future business models, the authors of this article call for more dialectic in management thinking. Their “rule-breaking strategy creator” process is a combination of tested consulting and venture capital tools, and provides an entirely new approach to systematic rule-breaking and, thus, competitive advantages.     

A Note on Firm Age and the Margins of Exports: First Evidence from Germany

This article uses a new tailor-made data set to empirically investigate the link between firm age and the extensive and intensive margins of exports for the first time for Germany. Results turn out to be fully in line with theoretical considerations. Older firms are more often exporters, export more and more different goods to more different destination countries, and export to more distant destination markets.     

Putting Canada in the penalty box: Trade and welfare effects of eliminating North American Free Trade Agreement

Three years ago, very few economists would have imagined that one of the newest and fastest growing research areas in international trade is the use of quantitative trade models to estimate the economic welfare losses from dissolutions of major countries' economic integration agreements (EIAs). In 2016, "Brexit" was passed in a UK referendum. Moreover, in 2019, the existence of the entire North American Free Trade Agreement (NAFTA) is at risk if the US withdraws—a threat President Trump has made if the proposed US–Mexico–Canada Agreement is not passed by the US Congress. We use state‐of‐the‐art econometric methodology to estimate the partial (average treatment) effects on international trade flows of the six major types of EIAs. Armed with precise estimates of the average treatment effect for a free trade agreement, we examine the general equilibrium trade and welfare effects of the elimination of NAFTA (and for robustness US withdrawal only). Although all the member countries' standards of living fall, surprisingly the smallest economy, Mexico, is not the biggest loser; Canada is the biggest loser. Canada's welfare (per capita income) loss of 2.11% is nearly two times that of Mexico's loss of 1.15% and is nearly eight times the US' loss of 0.27%. The simulations will illustrate the important influence of trade costs—international and intranational—in contributing to the gains (or losses) from an EIA's formation (or elimination).     

Export diversification: How much does the choice of the trading partner matter?

This paper studies how a country's export diversification varies across destination markets. It develops an extension of the Romalis (2004) model which yields two testable predictions. According to the first, exports between similarly endowed countries (“South–South” and “North–North”) are more diversified than exports between differently endowed countries (“South–North” and “North–South”). The second implication is that, for given countries' production patterns, low bilateral trade costs lead to greater export diversification. These predictions find empirical support in a panel of 102 trade partners and 4998 HS-6 industries over the period 1995–2007. Results show that similarities between trading partners in physical capital, land and human capital endowments per worker are associated with more diversified bilateral exports. Exports are also more diversified when bilateral trade costs are relatively low.     

Labor market institutions,firm-specific skills,and trade patterns

This paper studies how a country's labor market institutions, by affecting workers' skill acquisition, can shape its export patterns. I develop an open-economy model in which workers undertake non-contractible activities to acquire firm-specific skills on the job. In the model, labor market protection raises workers' incentives to acquire firm-specific skills relative to general skills, turning labor laws into a source of comparative advantage. In particular, the model shows that countries with more protective labor laws export relatively more in firm-specific skill-intensive sectors at both the intensive and extensive margins. To test the theoretical predictions, I construct sector proxies for the firm-specific and industry-specific skill intensity by estimating returns to firm tenure and industry tenure for different U.S. manufacturing sectors during the 1974–1993 period. By estimating sector-level gravity equations for 84 countries using the Helpman–Melitz–Rubinstein (2008) framework, I find evidence supporting the predicted effects of labor market institutions at both margins of exports.     

The inception of internationalization of small and medium enterprises: The role of activeness and networks

This study analyzes how exporters begin their internationalization leveraging information collected through interviews with 109 Chinese textile manufacturers. It examines whether firms that found their first international clients through a “proactive” search are likely to export faster, more intensively, and to a larger number of markets. The findings illustrate that the proactiveness of the search for the first client in a foreign market is an important predictor of the intensity and geographic scope of the firm's internationalization path but not of its speed. They support the view of internationalization as an actively pursued entrepreneurial process, which may also be affected by serendipitous events. This study provides new evidence on the first international business discovery of Chinese exporters, contributing to the literature on international entrepreneurship, international new ventures and the network approach to internationalization.     

R&D Activities and Extensive Margins of Exports in Manufacturing Enterprises: First Evidence for Germany

This article uses a new, tailor-made data set to investigate for the first time the links between innovation activities (measured by employees active in research and development) and the extensive margins of exports (number of destination countries; number of goods exported) for manufacturing enterprises in Germany, the third largest exporter of goods on the world market. It documents that more innovative firms outperform less innovative firms at both margins of exports—they export more goods, and they export to a larger number of countries. All of these differences are statistically highly significant and large from an economic point of view.     

Intensive and extensive margins of exports: What can India learn from China?

We decompose India's export performance in manufactured products during 2000–15 into changes at the intensive and extensive margins. India's performance, along different margins, is compared and contrasted with that of China. The results show that while China outperforms India at both the margins, the gap is particularly wide at the intensive margin. Decomposition of intensive margin along quantity and price margins shows that Chinese products are generally sold cheaper than Indian products. Higher price margin, however, has not translated into high intensive margin for India due to its abysmally low quantity margin. We examine different explanations for China's superior performance relative to India, along different margins, using a gravity model. Our results suggest that China's exchange rate policy was not the prime reason for its export success. Neither do we find that FDI inflows were significant in explaining the export performance gap between them. The results show that China's export relationship bias towards high‐income partner countries holds the key in understanding its superior performance. This bias is a natural consequence of China's high degree of specialization in labor‐intensive activities. India, by contrast, due to an idiosyncratic pattern of specialisation, has failed to exploit its export potential in high income countries.     

Contingency as an entrepreneurial resource: How private obsession fulfills public need

Borrowing from Rorty (1989:37), this article portrays the entrepreneurial process as a mechanism through which “private obsession” fulfills “public need.” It begins with an argument that a deeper understanding of contingency can enhance management scholarship in general and entrepreneurship in particular. It continues with an examination of contingency and entrepreneurial opportunity and then uses six narratives to show how both personal and historical contingencies become resources in the entrepreneurial process. A depiction of possible alternative responses (counterfactuals) for each narrative illustrates how entrepreneurs tend to take a resourceful, rather than an adaptive or a heroic stance toward contingency. A discussion of American Pragmatism provides theoretical support for contingency's role in the entrepreneurial process. The paper concludes with a literature review and a look at how this view of entrepreneurial contingency illuminates the temporal context in management scholarship, among other implications for both research and practice.     

The gravity of financial development

The article empirically tests the link between financial constraints with the extensive (proportion of exporters) and the intensive (volume of exports) margins of international trade. The main contribution is the macroeconomic analysis of this relationship – i.e. the investigation of the effect of finance on trade of all economic sectors combined – which is further reaching than the manufactured-sector-based focus found in the current literature. The study is developed on the basis of a bilateral trade database on 104 countries between 1998 and 2007. The empirical section estimates a two-stage gravity equation using panel data and shows a positive impact of financial development on the marginal variation of the extensive margin. However, the estimate of the relationship between finance and the intensive margin shows an unexpected result. It finds inconsistent results demonstrating a relationship that is negative, positive or statistically null.     

Twin deficit or twin divergence? Fiscal policy, current account, and real exchange rate in the U.S.

In spite of concerns about “twin deficits” (fiscal and the current account deficits) for the United States economy, empirical evidence suggests that “twin divergence” is a more usual feature of the historical data, i.e., when fiscal accounts worsen, the current account improves and vice versa. This paper empirically studies the effects of fiscal policy (government budget deficit shocks) on the current account and the real exchange rate, during the flexible exchange rate regime period. Based on VAR (Vector Auto-Regression) models, we identified “exogenous” fiscal policy shocks after controlling for business cycle effects on fiscal balances. In contrast to the predictions of most theoretical models, the U.S. results suggest that an expansionary fiscal policy shock, or a government budget deficit shock, improve the current account and depreciate the real exchange rate. Increases in private savings and declines in investment contribute to the current account improvement while a nominal exchange rate depreciation, as opposed to a relative price level change, is mainly responsible for the real exchange rate depreciation. The “twin divergence” of fiscal balances and current account balances is also explained by the prevalence of output shocks, i.e. output shocks — more than fiscal shocks — appear to drive the co-movements of the current account and the fiscal balance.     

Trade deflection and trade depression

This is the first paper to empirically examine whether a country's use of an import restricting trade policy distorts a foreign country's exports to third markets. We first develop a theoretical model of worldwide trade in which the imposition of antidumping and safeguard tariffs, or “trade remedies,” by one country causes significant distortions in world trade flows. We then empirically test this model by investigating the effect of the United States' use of such import restrictions on Japanese exports of roughly 4800 products into 37 countries between 1992 and 2001. Our estimation yields evidence that US restrictions both deflect and depress Japanese export flows to third countries. Imposition of a US antidumping measure against Japan deflects trade, as the average antidumping duty on Japanese exports leads to a 5-7% increase in Japanese exports of the same product to the average third country market. The imposition of a US antidumping measure against a third country depresses trade, as the average US duty imposed on a third country leads to a 5-19% decrease in Japanese exports of that same product to the average third country's market. We also document the substantial variation in trade deflection and trade depression across different importing countries and exported products.     

Effects of aid for trade on extensive and intensive margins of greenfield FDI

Using a panel dataset of 105 developing countries for the period 2003–15, this paper assesses the effects of Aid for Trade (AfT) on greenfield FDI flows to the aid‐recipient countries. Particularly, this paper classifies the total dollar value of greenfield FDI flows to each recipient country in terms of four different layers: the extensive and intensive margins of projects as well as the extensive and intensive margins of source countries. Applying the system GMM estimator, this paper finds that AfT not only increases the dollar value of FDI flows to the recipient countries but also helps diversify the greenfield projects and source countries. In addition, this paper finds that AfT has a greater effect for greenfield FDI from donor (developed) countries than from non‐donor (developing) countries. Among the three components of AfT, aid for trade‐related infrastructure and aid for trade policy regulations are found to have positive links with greenfield FDI, irrespective of source‐country groups, yet their effects are larger for developed source countries. In contrast, aid for building productive capacity hinders greenfield FDI flows from non‐donor countries, while it promotes greenfield FDI from donor countries. We offer some explanations for this finding.     

Examining the role of CSR skepticism using fuzzy-set qualitative comparative analysis

This study shows the value of a set-theoretic comparative technique—namely, fuzzy-set qualitative comparative analysis—as a means to supplement other traditional techniques, such as regression analysis and structural equation modeling. The study illustrates the technique by using the empirical dataset in Skarmeas and Leonidou's (2013) study on consumer skepticism about corporate social responsibility (CSR). The investigation provides more nuanced coverage of the role of CSR skepticism than the conventional “net effect” symmetrical explanation and illustrates that CSR skepticism and its impact are contingent on combinations of complex antecedent conditions and several alternative paths. Specifically, the study expands on Skarmeas and Leonidou's findings by showing that the degree of CSR skepticism depends on the combination of “ingredients” in the CSR-induced consumer attribution causal “recipes.” The study also shows that the deleterious influence of CSR skepticism on consumer-related outcomes, such as retailer equity, resilience to negative information about the retailer, and word of mouth, is conditional and depends on the combination of antecedent conditions that occur in the causal statements.