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Exporter Dynamics Firm Size And Growth And Partial Year Effects
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Book Synopsis Exporter Dynamics, Firm Size and Growth, and Partial Year Effects by : Andrew B. Bernard
Download or read book Exporter Dynamics, Firm Size and Growth, and Partial Year Effects written by Andrew B. Bernard and published by . This book was released on 2014 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two otherwise identical firms that enter the same market in different months, one in January and one in December, will report dramatically different annual sales for the first calendar year of operations. This partial year effect in annual data leads to downward biased observations of the level of activity upon entry and upward biased growth rates between the year of entry and the following year. This paper examines the implications of partial year effects using Peruvian export data. The partial year bias is very large: the average level of first-year exports of new exporters is understated by 65 percent and the average growth rate between the first and second year of exporting is overstated by 112 percentage points. This paper re-examines a number of stylized facts about firm size and growth that have motivated rapidly expanding theoretical and empirical literatures on firm export dynamics. Correcting the partial year effect eliminates unusually high growth rates in the first year of exporting, raises initial export levels, and shifts 10 percent of market entrants from below to above the median size. Revisiting an older set of facts on firm size and growth, the paper finds that correcting for partial year biases reduces the number of small firms in the firm size distribution and weakens the negative relationship between firm growth and firm size.
Book Synopsis Exporter Dynamics, Firms Size and Growth, and Partial Years Effects by :
Download or read book Exporter Dynamics, Firms Size and Growth, and Partial Years Effects written by and published by . This book was released on 2014 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exporter Dynamics, Firm Size and Growth, and Partial Year Effects by :
Download or read book Exporter Dynamics, Firm Size and Growth, and Partial Year Effects written by and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exporter Dynamics and Partial-Year Effects by : Andrew B. Bernard
Download or read book Exporter Dynamics and Partial-Year Effects written by Andrew B. Bernard and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Two identical firms who start exporting in different months, one each in January and December, will report dramatically different exports for the first calendar year. This partial-year effect biases down first-year export levels and biases up first-year export growth rates. For Peruvian exporters, the partial-year bias is large: first-year export levels are understated by 54 percent and the first-year growth rate is overstated by 112 percentage points. Correcting the partial-year effect dramatically reduces first-year export growth rates, raises initial export levels, and almost doubles the contribution of net firm entry and exit to overall export growth.
Book Synopsis Firms' Export Dynamics by : Antoine Berthou
Download or read book Firms' Export Dynamics written by Antoine Berthou and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence about the impact that size and experience in exporting have on firms' dynamics, a critical input in models of firms dynamics. The analysis uses a census of French exports by firm-destination-product over the period 1994-2008 with a monthly frequency. We first uncover a large calendar year effect associated with the timing of entry: the fact new exporters may start exporting late during the year inflates the growth rate between the first and second years. When computed on a full year basis starting with the month of entry, first year exports of new exporters are on average 36 per cent larger than on a calendar year basis. We then show that, controlling for size, export experience is negatively related to net growth of exports for surviving exporters. Controlling for export experience, the relationship between average size and net growth of exports shows no systematic pattern. Finally, churning in foreign markets, that is the gross contributions of entry and exit to exporters net growth, is decreasing with export experience and (sharply) with size.
Book Synopsis Firms' Export Dynamics by : Antoine Berthou
Download or read book Firms' Export Dynamics written by Antoine Berthou and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Power Laws in Firm Size and Openness to Trade by : Mr.Andrei A. Levchenko
Download or read book Power Laws in Firm Size and Openness to Trade written by Mr.Andrei A. Levchenko and published by International Monetary Fund. This book was released on 2010-04-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Existing estimates of power laws in firm size typically ignore the impact of international trade. Using a simple theoretical framework, we show that international trade systematically affects the distribution of firm size: the power law exponent among exporting firms should be strictly lower in absolute value than the power law exponent among non-exporting rms. We use a dataset of French firms to demonstrate that this prediction is strongly supported by the data. While estimates of power law exponents have been used to pin down parameters in theoretical and quantitative models, our analysis implies that the existing estimates are systematically lower than the true values. We propose two simple ways of estimating power law parameters that take explicit account of exporting behavior.
Book Synopsis Exporter Dynamics and Partial-Year Effects by :
Download or read book Exporter Dynamics and Partial-Year Effects written by and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exporter Dynamics Database by : Tolga Cebeci
Download or read book Exporter Dynamics Database written by Tolga Cebeci and published by . This book was released on 2012 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exporting Through Intermediaries: Impact on Export Dynamics and Welfare by : Parisa Kamali
Download or read book Exporting Through Intermediaries: Impact on Export Dynamics and Welfare written by Parisa Kamali and published by International Monetary Fund. This book was released on 2019-12-27 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: In many countries, a sizable share of international trade is carried out by intermediaries. While large firms tend to export to foreign markets directly, smaller firms typically export via intermediaries (indirect exporting). I document a set of facts that characterize the dynamic nature of indirect exporting using firm-level data from Vietnam and develop a dynamic trade model with both direct and indirect exporting modes and customer accumulation. The model is calibrated to match the dynamic moments of the data. The calibration yields fixed costs of indirect exporting that are less than a third of those of direct exporting, the variable costs of indirect exporting are twice higher, and demand for the indirectly exported products grows more slowly. Decomposing the gains from indirect and direct exporting, I find that 18 percent of the gains from trade in Vietnam are generated by indirect exporters. Finally, I demonstrate that a dynamic model that excludes the indirect exporting channel will overstate the welfare gains associated with trade liberalization by a factor of two.
Book Synopsis Three Essays on Exporting, Firm Dynamics, and Productivity Growth by : Ping Hsuan Fung
Download or read book Three Essays on Exporting, Firm Dynamics, and Productivity Growth written by Ping Hsuan Fung and published by . This book was released on 2002 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exporter Behavior, Country Size and Stage of Development by : Ana M. Fernandes
Download or read book Exporter Behavior, Country Size and Stage of Development written by Ana M. Fernandes and published by . This book was released on 2018 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents new data on the micro structure of the export sector for 45 countries and studies how exporter behavior varies with country size and stage of development. Larger countries and more developed countries have more exporters, larger exporters, and a greater share of exports controlled by the top 5 percent. The extensive margin (more firms) plays a greater role than the intensive margin (average size) in supporting exports of larger countries. In contrast, the intensive margin is relatively more important in explaining the exports of richer countries. Exporter entry and exit rates are higher and entrant survival is lower at an early stage of development. The paper discusses the results in light of trade theories with heterogeneous firms and the empirical literature on resource allocation, firm size, and development. An implication from the findings is that developing countries export less because the top of the firm-size distribution is truncated.
Book Synopsis Does Firm Size Affect Learning-by-Exporting? Empirical Evidence From Sub-Saharan Africa by : Stephen Esaku
Download or read book Does Firm Size Affect Learning-by-Exporting? Empirical Evidence From Sub-Saharan Africa written by Stephen Esaku and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines whether the relationship between exports and productivity growth differs across firm size. Using panel data from three Sub-Saharan African countries, I use propensity score matching procedure to examine this relationship. This study finds evidence of productivity differences between new exporters and non-exporters confirming the empirical regularity that new exporters are more productive than never exporters. The findings indicate that export participation effects vary across firm size, with both small and large firms experiencing immediate and significant productivity gains upon entry. However, the productivity gain for large firms is highly significant and more pronounced in the first two years after entry but declines drastically from the third year and tends towards negative in subsequent years. Learning effects might be important for large firms during the initial years of exporting, but these effects dissipate once learning avenues have been exhausted. Small firms display sustained learning effects that expand beyond the fourth year. Relative to the large firms, small new exporters display sustained and significant productivity growth for five year. This study finds no evidence of cumulative productivity growth beyond the third year for large firms. These results are robust to alternative measure of productivity. Any export-led growth should be directed at helping small new exporters access the export markets.
Book Synopsis Does What You Export Matter? by : Daniel Lederman
Download or read book Does What You Export Matter? written by Daniel Lederman and published by World Bank Publications. This book was released on 2012-06-18 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.
Book Synopsis The National Export Strategy by : Trade Promotion Coordinating Committee (U.S.)
Download or read book The National Export Strategy written by Trade Promotion Coordinating Committee (U.S.) and published by . This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Intensive Margin in Trade by : Ana Fernandes
Download or read book The Intensive Margin in Trade written by Ana Fernandes and published by International Monetary Fund. This book was released on 2018-12-07 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Melitz model highlights the importance of the extensive margin (the number of firms exporting) for trade flows. Using the World Bank’s Exporter Dynamics Database (EDD) featuring firm-level exports from 50 countries, we find that around 50 percent of variation in exports is along the extensive margin—a quantitative victory for the Melitz framework. The remaining 50 percent on the intensive margin (exports per exporting firm) contradicts a special case of Melitz with Pareto-distributed firm productivity, which has become a tractable benchmark. This benchmark model predicts that, conditional on the fixed costs of exporting, all variation in exports across trading partners should occur on the extensive margin. We find that moving from a Pareto to a lognormal distribution allows the Melitz model to match the role of the intensive margin in the EDD. We use likelihood methods and the EDD to estimate a generalized Melitz model with a joint lognormal distribution for firm-level productivity, fixed costs and demand shifters, and use “exact hat algebra” to quantify the effects of a decline in trade costs on trade flows and welfare in the estimated model. The welfare effects turn out to be quite close to those in the standard Melitz-Pareto model when we choose the Pareto shape parameter to fit the average trade elasticity implied by our estimated Melitz-lognormal model, although there are significant differences regarding the effects on trade flows.
Download or read book Making It Big written by Andrea Ciani and published by World Bank Publications. This book was released on 2020-10-08 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and social progress requires a diverse ecosystem of firms that play complementary roles. Making It Big: Why Developing Countries Need More Large Firms constitutes one of the most up-to-date assessments of how large firms are created in low- and middle-income countries and their role in development. It argues that large firms advance a range of development objectives in ways that other firms do not: large firms are more likely to innovate, export, and offer training and are more likely to adopt international standards of quality, among other contributions. Their particularities are closely associated with productivity advantages and translate into improved outcomes not only for their owners but also for their workers and for smaller enterprises in their value chains. The challenge for economic development, however, is that production does not reach economic scale in low- and middle-income countries. Why are large firms scarcer in developing countries? Drawing on a rare set of data from public and private sources, as well as proprietary data from the International Finance Corporation and case studies, this book shows that large firms are often born large—or with the attributes of largeness. In other words, what is distinct about them is often in place from day one of their operations. To fill the “missing top†? of the firm-size distribution with additional large firms, governments should support the creation of such firms by opening markets to greater competition. In low-income countries, this objective can be achieved through simple policy reorientation, such as breaking oligopolies, removing unnecessary restrictions to international trade and investment, and establishing strong rules to prevent the abuse of market power. Governments should also strive to ensure that private actors have the skills, technology, intelligence, infrastructure, and finance they need to create large ventures. Additionally, they should actively work to spread the benefits from production at scale across the largest possible number of market participants. This book seeks to bring frontier thinking and evidence on the role and origins of large firms to a wide range of readers, including academics, development practitioners and policy makers.
