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31.
The gap between theoretically predicted trade patterns and actual trade suggests that our understanding of what shapes trade patterns is incomplete. Institutional barriers may be one factor behind this gap, and recent research suggests that institutions are a greater obstacle to trade than tariffs. Using detailed firm-level data, we analyze how institutional quality in recipient countries affects exports by Swedish firms. Our results suggest that weak institutions in recipient countries make exports to these countries less likely and that exports to countries with weak institutions are characterized by relatively short duration and small volume. Analyzing long-term trade flows, we identified a learning process where exporters become less dependent on institutional quality in the target economy over time. More specifically, in addition to previous research that emphasize learning related to knowledge about the contracting partner and rule of law, we extend this notion and show that there is also a learning process where firms acquire knowledge about the general business climate. When learning about the contractual partner and business institutions in recipients countries takes place, exports increase relatively quickly during the first 2 years of exports and thereafter levels out. Hence, firms that are initially sensitive to weak institutions, start small, and learn how to handle foreign institutions are likely to be most successful in maintaining long-term relationships with foreign markets. 相似文献
32.
Beckerman (1956) and Linder (1961) have suggested that international trade is not determined by supply-side factors alone—perceptions about foreign countries and country preferences matter. We explore the relation between exports, cultural distance, and country preferences in Europe. The results show that several distance and preference-related variables, based on Hofstede’s cultural dimensions, income gaps, and voting patterns in the Eurovision Song Contest, are significantly related to bilateral trade. We conclude that cultural distance and preferences influence trade through several channels, both indirectly through transaction costs and more directly, as countries seem to prefer some trade partners before others. 相似文献
33.
Christer Ljungwall Patrik Gustavsson Tingvall 《Journal of Chinese Economic and Business Studies》2013,11(4):353-371
Empirical evidence suggests that China has benefited from foreign direct investment (FDI). An important question that remains unanswered is whether China has benefited more from FDI than other countries in general, and other transition and developing countries in particular. This paper investigates this issue by performing a meta-analysis on a sample of 67 country-specific studies yielding 137 observations that have gauged the link between FDI and measures of economic growth. The results suggest that the impact of FDI is, on average, more positively significant for China than for the full sample of countries, but that the difference between China and other transition economies is less clear. 相似文献
34.
Subsampling and the m out of n bootstrap have been suggested in the literature as methods for carrying out inference based on post-model selection estimators and shrinkage estimators. In this paper we consider a subsampling confidence interval (CI) that is based on an estimator that can be viewed either as a post-model selection estimator that employs a consistent model selection procedure or as a super-efficient estimator. We show that the subsampling CI (of nominal level 1−α for any α(0,1)) has asymptotic confidence size (defined to be the limit of finite-sample size) equal to zero in a very simple regular model. The same result holds for the m out of n bootstrap provided m2/n→0 and the observations are i.i.d. Similar zero-asymptotic-confidence-size results hold in more complicated models that are covered by the general results given in the paper and for super-efficient and shrinkage estimators that are not post-model selection estimators. Based on these results, subsampling and the m out of n bootstrap are not recommended for obtaining inference based on post-consistent model selection or shrinkage estimators. 相似文献
35.
The purpose of this paper is to provide a quantitative analysis of innovation and diffusion in the European wind power sector.
We derive a simultaneous model of wind power innovation and diffusion, which combines a rational choice model of technological
diffusion and a learning curve model of dynamic cost reductions. These models are estimated using pooled annual time series
data for four European countries (Denmark, Germany, Spain and the United Kingdom) over the time period 1986–2000. The empirical
results indicate that reductions in investment costs have been important determinants of increased diffusion of wind power,
and these cost reductions can in turn be explained by learning activities and public R&D support. Feed-in tariffs also play
an important role in the innovation and diffusion processes. The higher is the feed-in price the higher is, ceteris paribus,
the rate of diffusion, and we present some preliminary empirical support for the notion that the impact on diffusion of a
marginal increase in the feed-in tariff will differ depending on the support system used. High feed-in tariffs, though, also
have a negative effect on cost reductions as they induce wind generators to choose high-cost sites and provide fewer incentives
for cost cuts. This illustrates the importance of designing an efficient wind energy support system, which not only promotes
diffusion but also provides continuous incentives for cost-reducing innovations.
相似文献
36.
Alessio Moneta Doris Entner Patrik O. Hoyer Alex Coad 《Oxford bulletin of economics and statistics》2013,75(5):705-730
Structural vector‐autoregressive models are potentially very useful tools for guiding both macro‐ and microeconomic policy. In this study, we present a recently developed method for estimating such models, which uses non‐normality to recover the causal structure underlying the observations. We show how the method can be applied to both microeconomic data (to study the processes of firm growth and firm performance) and macroeconomic data (to analyse the effects of monetary policy). 相似文献
37.
This paper explores certain characteristics of Japanese professional business services (PBS). The aim is to develop an analytical typology consisting of the three dimensions – organizational linkage, service market, and competitive situation – for analysing the obtained empirical data. This typology has been developed in order to increase the understanding of how Japanese companies operate within this sector and also to examine the reasons behind the fact that Japanese business services seem to be marginalized in an international context. This typology could serve as a theoretical frame for comparing Japanese companies with western companies in future research. This research is based on empirical material collected in Japan in the spring of 2001, covering research institutes, general trading houses and insurance companies. Using the constructed analytical typology, the findings reveal that strong organizational linkages have generated a business service market where diversification of service supply within companies is common. However, there are strong indications of a changing business environment with increased competition and further specialization among business service firms. Furthermore, the findings indicate that Japanese companies have difficulties competing with highly-specialized and reputable western business service firms. 相似文献
38.
This paper analyzes the properties of subsampling, hybrid subsampling, and size-correction methods in two non-regular models. The latter two procedures are introduced in Andrews and Guggenberger (2009a). The models are non-regular in the sense that the test statistics of interest exhibit a discontinuity in their limit distribution as a function of a parameter in the model. The first model is a linear instrumental variables (IV) model with possibly weak IVs estimated using two-stage least squares (2SLS). In this case, the discontinuity occurs when the concentration parameter is zero. The second model is a linear regression model in which the parameter of interest may be near a boundary. In this case, the discontinuity occurs when the parameter is on the boundary. 相似文献
39.
A key feature of the Swedish economy over the last two decades has been the rapid internationalisation of its economy, both
through FDI and exports. In this paper we consider their inter-relationship, examining whether there have been spillovers
from foreign firms to the export performance of domestic firms. We also contribute to the empirical modelling of export spillovers.
We do this by exploiting information on whether foreign MNE sales are intra-firm or inter-firm, and by allowing for heterogeneity
in the characteristics of the sender and receiver of spillovers. Our results indicate that foreign MNEs had positive effects
on Swedish exports. 相似文献
40.
Empirical Analysis of Business Growth Factors Using Swedish Data 总被引:4,自引:0,他引:4
Per Davidsson Bruce Kirchhoff Abdulnasser Hatemi–J & Helena Gustavsson 《Journal of Small Business Management》2002,40(4):332-349
Empirical research conducted on the U.S., German, Australian, and Scottish economies has shown that age, size, location, legal form, and industry are related to business growth. Much of this research has focused on manufacturing firms, thus providing little information about the effect of industrial sector differences on these factors. We seek to both confirm that small independent firms demonstrate the greatest growth rates and to explore the effects of the industrial sector on this conclusion.
This article uses Swedish data to replicate previous research while using a different definition of business to enhance the study of effects from industry, international versus domestic businesses, and domestic versus foreign ownership. Results show that business age, beginning size, ownership form, industrial sector, and legal form are the most important factors related to growth. Although business growth differs among industrial sectors, youth, ownership independence, and small size are major factors that underlie growth across all industries. 相似文献
This article uses Swedish data to replicate previous research while using a different definition of business to enhance the study of effects from industry, international versus domestic businesses, and domestic versus foreign ownership. Results show that business age, beginning size, ownership form, industrial sector, and legal form are the most important factors related to growth. Although business growth differs among industrial sectors, youth, ownership independence, and small size are major factors that underlie growth across all industries. 相似文献