环境规制与中国生产率的动态变化:基于异质性企业视角

本文基于异质性企业分析框架,研究了环境规制如何通过要素替代、创新补偿以及资源重置3种渠道塑造中国企业和行业生产率的静态与动态变化过程。研究发现,在企业层面上,环境规制会提升高效企业生产率,降低低效企业生产率。在行业层面上,环境规制强度提高将不利于资源错配严重行业的加总生产率增长。我们基于1998-2007年中国微观企业数据验证了上述结论和3种渠道各自的作用。因此要实现环境改善型的技术进步不仅需要各级政府坚定不移地执行环境保护政策,更重要的是减少要素在行业内和行业间流动的摩擦以及各种制度性障碍,降低行业资源错配程度。     

Total Factor Productivity of the Japanese Rice Industry

We calculate partial factor productivity and total factor productivity (TFP) indices for rice production using panel data across 42 Japanese prefectures from 1996 to 2006, and perform panel unit root tests of TFP convergence across prefectures. We find that during this period, the partial factor productivity growth rates for capital, land and materials stagnated at the aggregate national level, as did the TFP growth rate, despite a large increase in labor productivity. We also identify evidence of a convergence in TFP across Japanese prefectures.     

Two-dimensional analysis of the impact of outward FDI on performance at home: Evidence from Japanese manufacturing firms

This paper empirically investigates two dimensions of changes in firm behavior and performance before and after foreign direct investment (FDI). The first dimension is the difference between vertical and horizontal FDI. The second dimension is the effect of outward FDI on firms’ production and non-production activities in the home country. In our careful empirical analysis we use the propensity score matching method to show that the impact of outward FDI differs by dimension, that is, by FDI type and firms’ production and non-production activities. In particular, while horizontal FDI increases demand for non-production workers, vertical FDI increases demand for skilled production workers.     

Exports and Productivity Growth: First Evidence from a Continuous Treatment Approach

A recent survey of 54 micro-econometric studies reveals that exporting firms are more productive than non-exporters. However, previous empirical studies show that exporting does not necessarily improve productivity. One possible reason for this result is that most previous studies are restricted to analysing the relationship between a firm’s export status and the growth of its labour productivity, using the firms’ export status as a binary treatment variable and comparing the performance of exporting and non-exporting firms. In this paper, we apply the newly developed generalised propensity score (GPS) methodology that allows for continuous treatment, that is, different levels of the firms’ export activities. Using the GPS method and a large panel data set for German manufacturing firms, we estimate the relationship between a firm’s export-sales ratio and its labour productivity growth rate. We find that there is a causal effect of firms’ export activities on labour productivity growth. However, exporting improves labour productivity growth only within a sub-interval of the range of firms’ export-sales ratios. JEL no.  F14, F23, L60     

生产率异质性、产业要素密集度与中国对外直接投资

为了解释全球国际直接投资的迅猛发展,Antràs and Helpman(2004)将国际贸易和直接投资领域最新的研究成果——异质性企业理论与企业内生边界理论相融合,建立了具有两种投入品和企业异质性的两国模型,研究表明产业的要素密集度、企业生产率的异质性对于一国对外直接投资的增长起着决定性作用。本文在此基础上利用中国行业的面板数据对上述结论进行了验证,结果表明中国对外直接投资与产业资本密集度以及生产率水平正相关。     

Analysis of Productivity Differences among Foreign and Domestic Firms: Evidence from Germany

This paper presents differences in firm-level total factor productivity (TFP) across 22 manufacturing and 17 service industries in Germany over the period 1995–2004. It is an attempt to study whether and to what extent foreign multinational enterprises (MNEs) are more productive relative to German firms. As well as distinguishing between foreign and domestic firms, we also distinguish between German MNEs and domestic firms that do not have any foreign presence. Controlling for endogeneity through semi-parametric techniques, our findings indicate considerable heterogeneity in firm performance across types of firms. The foreign/domestic distinction is not as clear cut as has been suggested elsewhere; multinationality is important in explaining productivity differences rather than foreignness. JEL no. D24, F21, F23     

Productivity of Foreign and Domestic Firms in the Malaysian Manufacturing Industry*

The relative position of total factor productivity (TFP) of both foreign and domestic ?rms in the manufacturing industry in Malaysia is estimated for three‐ and ?ve‐digit level subsectors. It was found that the differences between foreign and domestic ?rms varied widely from sector to sector. However, for the manufacturing industry as a whole, TFP was approximately the same for foreign and domestic ?rms for the period 1994–1996.     

Learning-by-Exporting: Continuous Productivity Improvements or Capacity Utilization Effects? Evidence from Slovenian Firms

Following along the lines of a growing literature on the causal link between exporting and productivity, this paper analyzes the existence of “learning-by-exporting” using firm-level data for Slovenian manufacturing enterprises between 1994 and 2002. We fail to find conclusive evidence of learning-by-exporting. By matching new exporting firms to “sufficiently” similar non-exporters and using the difference-in-differences method on the matched pairs it is revealed that productivity improvements, although present, are far from permanent and tend to dissipate shortly after initial entry. Confronting the data on factor accumulation with TFP measures indicates that the perceived learning effects may in fact only be a consequence of increased capacity utilization brought about by the opening of an additional market. JEL no. D24, F12, F14     

Growth and Productivity in Singapore Manufacturing Industries: 1975–1998

Consistently defined price and volume relatives are constructed for 18 manufacturing industries under the two-digit industry classifications officially adopted in 1996. Industry-specific output and materials price deflators for the period 1974–1998 are also constructed. Where the comparison is possible, we arrive at a markedly different conclusion from those in Tsao (1982, 1985 ) and Young (1994 ), and narrow the cause to a difference in the choice of output measure. The updated accounts show that the conventional index number measure of total factor productivity growth (TFPG) for Singapore manufacturing is 2.7% per annum for the period 1975–1998, and exhibits a cyclical pattern over time.     

Unobserved firm heterogeneity and the size-exports nexus: Evidence from German panel data

This paper starts from the stylized fact that firm size and exporting tends to be positively related. Using large sets of establishment panel data for three different industries from official statistics, evidence is presented that the familiar picture of an export/sales ratio that increases (at a decreasing rate) with firm size vanishes if unobserved firm heterogeneity is controlled for in a fixed-effects fractional logit regression model. This finding is well in line with the fact that many small firms are “hidden export champions.” JEL no. F10, D21, L60     

Aid Modalities and Budgetary Response: Panel Data Evidence

We investigate the budgetary effects of project and program financing on the behavior of recipient governments. For this purpose, we developed a simple fiscal response model. The solution of the model is then tested using panel data techniques for a relatively large sample of 106 aid-recipient countries spanning the period 1970–2001. With respect to public expenditure, our results suggest that the impacts of project aid and financial program aid on total expenditure are positive and statistically significant. In terms of the composition of total expenditure, we find that project aid flows are associated with increases in capital expenditure while financial program aid is associated with an increase in government consumption. Turning to the revenue side we found no evidence that aid flows, project or financial program aid, are associated with a reduction in taxation effort. The evidence also shows that project aid flows are associated with an increase in trade tax. JEL no. F35, H2, H5     

Productivity Spillovers from FDI in Malaysian Manufacturing: Evidence from Micro‐panel Data*

Using an establishment‐level panel dataset for the Malaysian manufacturing industries for 2000–2004, we argue that differences in the proxies and degrees of foreign shareholdings in measuring foreign presence lead to opposite signs and/or significance of spillover effects. The results show significant evidence of positive productivity spillovers to local establishments in the same industry, based on a broad measure of foreign presence. However, there is no evidence of positive spillover when employment share is used as a proxy for foreign presence. Furthermore, significant negative spillover effects are related to higher employment shares of wholly foreign‐owned establishments. Although there is no significant difference in labor productivity between wholly foreign‐owned and locally‐owned establishments, both majority and minority foreign‐owned establishments have significantly lower levels of labor productivity than locally‐owned establishments in Malaysia.     

Self-Selection and Post-Entry Effects of Exports: Evidence from Italian Manufacturing Firms

Our paper adds empirical evidence on the causal effects of exporting on firms’ performances. Using a rich database on Italian manufacturing firms, we test the self-selection and the post-entry effects hypotheses with respect to various firms’ characteristics. Our analysis supports the idea that the superior performance of the exporters is due not only to a market selection mechanism, but also to efficiency improvements following the export activity. We find heterogeneous post-entry effects with respect to characteristics as geographical location, size and sector. To test the post-entry hypothesis we implement the propensity score matching and differences-in-differences techniques. JEL no.  D24, F14, O31     

Some Further Evidence on Exchange-Rate Volatility and Exports

The relationship between exchange-rate volatility and aggregate export volumes is examined using a model that includes real export earnings of oil-exporting economies as a determinant of export volumes of a sample of 12 industrial countries. Four fixed-coefficient panel-data estimation techniques, including a generalized method of moments (GMM) and random coefficient (RC) estimation, are employed on panel data covering the estimation period 1977:1–2003:4 using three measures of exchange-rate volatility. Our aim is to provide a theoretically and empirically justifiable specification that can guide researchers. In contrast to recent studies employing panel data, we find little evidence that volatility has a negative and significant impact on trade. We use second-generation RC estimation, which corrects for biases arising from incorrect functional forms, omitted variables, and measurement errors. Our results suggest that the finding of a significant and negative impact of volatility is attributable to specification biases. JEL no. C23, F3, F31     

资源配置、全要素生产率与农业经济增长愿景

对2004~2010年我国不同地区农业的资源配置扭曲情况的分析表明:由于"二元经济"的影响,我国农业的资本和劳动存在着明显的跨部门配置扭曲。如能有效消除此类扭曲,我国农业TFP能提高6%~36%。各地区的资源再配置效应对农业TFP增长率有着显著影响,并且各地区的资源再配置效应存在明显差异。对全国各个地区而言,土地资源再配置效应都是影响农业资源再配置效应的主要因素,资本和劳动再配置效应则相对较弱。由此可见,促进城乡资本和劳动力市场一体化以及进一步完善农村土地流转市场是现阶段降低农业资源配置扭曲、促进农业TFP增长的主要途径。