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The Life Cycle Dynamics Of Exporters And Multinational Firms
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Book Synopsis The Life-cycle Dynamices of Exporters and Multinational Firms by : Anna Gumpert
Download or read book The Life-cycle Dynamices of Exporters and Multinational Firms written by Anna Gumpert and published by . This book was released on 2017 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the life-cycle dynamics of exporters and multinational enterprises (MNEs). We present a dynamic model of trade and MNE activity in which the mode of serving a market depends on the well-known proximity-concentration tradeoff. We show that the option of performing MNE activities in the model produces life-cycle patterns for exporters that differ from those in an export-only model. Calibrating our model to rich firm-level data from France and Norway, our main quantitative finding is that a reduction in trade costs triggers much larger responses in growth rates and exit rates, for young exporters, in the model with MNEs than in the model without MNEs. We also show that the model is largely consistent with a set of new facts on the joint life-cycle dynamic behavior of exporters and MNEs.
Book Synopsis The Life-Cycle Dynamics of Exporters and Multinational Firms by : Anna Gumpert
Download or read book The Life-Cycle Dynamics of Exporters and Multinational Firms written by Anna Gumpert and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the life-cycle dynamics of exporters and multinational enterprises (MNEs). We present a dynamic model of trade and MNE activity in which the mode of serving a market depends on the well-known proximity-concentration tradeoff. We show that the option of performing MNE activities in the model produces life-cycle patterns for exporters that differ from those in an export-only model. Calibrating our model to rich firm-level data from France and Norway, our main quantitative finding is that a reduction in trade costs triggers much larger responses in growth rates and exit rates, for young exporters, in the model with MNEs than in the model without MNEs. We also show that the model is largely consistent with a set of new facts on the joint life-cycle dynamic behavior of exporters and MNEs.
Book Synopsis Multinational Firms, Innovation and Productivity by : D. Castellani
Download or read book Multinational Firms, Innovation and Productivity written by D. Castellani and published by Edward Elgar Publishing. This book was released on 2006 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book assumes an original place in the literature. . . Castellani and Zanfei show that the economic impact of MNEs on innovation and productivity depends on evolutionary features of firms and industries, particularly on the heterogeneity of firm strategies and behaviours. . . this volume contains high-quality, well-written research. . . Simona Iammarino, Research Policy . . . this book offers the reader a well-written and very comprehensive analysis on the link between innovation and internalization which leads to insights into firm heterogeneity. The authors have succeeded in synthesizing the vast body of theoretical and empirical research and given an up-to-date overview of the various issues involved. This is then complemented with their own research findings. . . The book will undoubtedly enrich the debate on the behavior and impact of MNEs. Yama Temouri, Journal of International Business Studies Davide Castellani and Antonello Zanfei, two well-known Italian economists, have brought forth an excellent new book. . . I think this book will serve as a starting-point for many interesting studies, both because of its findings and because of its empirical and theoretical rigour. . . the book lays an excellent and empirically well founded foundation that opens the way for what we need most in research on the international innovatory activities and R&D configurations of MNCs: intrafirm data and the study of intrafirm processes, configurations and specific interactions with the host country environment. The book to me is an important step in moving innovation research forward in this direction. . . I am sure that this book will serve as a thought-provoking starting point for many future studies on firms international innovatory activities and therefore recommend it without any reservation. Marcus M. Keupp, Creativity and Innovation Management Castellani and Zanfei have developed an original and comprehensive analysis of the role of multinational firms in the transfer, creation and diffusion of technology. By developing their view of the multinationals as double network institutions , the authors provide new insights on a variety of key issues at the frontier of economics of international production and innovation. This book is thought-provoking, incisive and topical, and should be required reading for both economists and policymakers alike. Rajneesh Narula, University of Reading, UK Castellani and Zanfei present an in-depth theoretical and empirical analysis of the key issues underpinning the relationship between innovation and multinationality. This book is strongly-recommended reading for any researcher working on innovation or multinationality or the interface between the two. Grazia Ietto-Gillies, London South Bank University, UK This book gets to the root of how and why multinational firms differ in the cross-border creation, transfer and diffusion of technology, and provides fresh evidence on the effects that these differences have on productivity and innovation in the economic systems in which they are active. Davide Castellani and Antonello Zanfei consider multinationals as heterogeneous institutions that combine internal networks of subsidiaries with external networks of collaborative linkages, to bridge different economic and innovation systems. They examine heterogeneity in productivity and innovative behaviour between multinational and national firms, as well as across and within multinationals. The authors argue that not every foreign firm is a good source of externality, and not every domestic firm is equally well placed to benefit from multinationals. It is shown that spillovers from multinationals differ according to the technological profiles, embeddedness and linkage creation of both foreign and domestic firms active in local markets. The book supports this view with empirical evidence based on illustrative case studies, and on econometric analysis using extensive firm-level datasets on multinati
Book Synopsis Multinational Firms and Asian Exports by : Benjamin I. Cohen
Download or read book Multinational Firms and Asian Exports written by Benjamin I. Cohen and published by . This book was released on 1975 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Research Handbook on Foreign Exit, Relocation and Re-entry by : Larimo, Jorma
Download or read book Research Handbook on Foreign Exit, Relocation and Re-entry written by Larimo, Jorma and published by Edward Elgar Publishing. This book was released on 2022-07-22 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: This definitive Research Handbook explores the restructuring strategies of globalised firms, bringing together a wide range of topics from export exit, subsidiary divestment and market re-entry to relocation, offshoring and backshoring.
Book Synopsis Multinational Firms and Manufacturing for Export in Less-developed Countries by : Linda Yuen-Ching Lim
Download or read book Multinational Firms and Manufacturing for Export in Less-developed Countries written by Linda Yuen-Ching Lim and published by . This book was released on 1978 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Essays on International Economics by : Roman David Merga
Download or read book Essays on International Economics written by Roman David Merga and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This dissertation consists of three independent chapters on International Economics. The first two chapters focus on how and why uncertainty affects international trade. The last chapter focuses on how reductions in trade barriers affect wage inequality. In the first chapter, I show that higher domestic volatility discourages exporters' investments in foreign market access, explaining the lack of involvement in international trade by developing economies. At the cross-country level, I find that country TFP volatility explains 40% of the relationship between trade and GDP per capita. Using Colombian micro-level data, I document that exporters with higher domestic sales volatility export less. New exporters expand relatively less over their life cycle in industries with higher domestic sales volatility. This dampening of the firm-level export expansion path is amplified in products with more variable markups. Motivated by these novel firm-level findings, I develop an international trade model with new exporter dynamics and variable markups that can account for the novel facts at the firm and the cross-country levels. These findings suggest that trade frictions calculated using static trade models reflect the interactions of domestic volatility and exporters' investment decisions to grow into foreign markets. Indeed my quantitative findings show that the volatility differences across countries are equivalent to a 30% higher trade cost in developing economies. These volatility differences account for 40% of the differential trade cost estimated by standard models of international trade. In the second chapter, I use a new time-varying measure of real exchange rate uncertainty (RERU) and find a negative relationship between RERU and international trade at the aggregate level. A one standard deviation increase in RERU is associated with a 5% drop in total trade over GDP. Using Colombian firm-level data, I document three firm-level facts consistent with the existence of a precautionary motive in international trade. When RERU increases, exporters: 1) reduce their export intensity, 2) are more likely to stop exporting, and 3) are less likely to start exporting to new markets. Additionally, I document that this behavior is mostly explained by exporters paying higher interest rates and facing higher shipping lags. These micro-level findings explain the cross-country results and contrast with the predictions from standard sunk cost models used in international trade. I show that incorporating firm-level debt default and international shipping lags into these standard models is enough to reconcile these models with the novel facts. In the new model, an increase in the RERU increases the probability of an exporter ending up in a financially vulnerable situation. To hedge against this risk, exporters respond by increasing markups or quitting the export market, generating a drop in aggregate exports through both the intensive and extensive trade margins. Quantitatively, the extended model predicts that a one standard deviation increase in RERU generates a drop in total exports of around 6%, consistent with the aggregate findings. In the third chapter, we use detailed employer-employee data from Spain that goes from 1987 to 2004 to understand how international trade affects the wage distribution across workers. Using a new instrumental variable approach to disentangle trade openness's effects on the distribution of income and wages, we document that an increase in local trade exposure reduces wage inequality. Furthermore, we show that this result is associated with changes at the within-industry and within-firm levels. At the within-industry level, we show that trade openness reallocates workers towards small firms and low-skilled jobs. While at the within-firm level, we find that small firms increase their labor intensity and employment, while larger firms reduce both in response to changes in trade openness. These changes are consistent with an increase in the relative demand for low-wage and low-skill workers"--Pages ix-xi.
Book Synopsis A Simple Theory of Trade, Finance, and Firm Dynamics by : Gabriel J. Felbermayr
Download or read book A Simple Theory of Trade, Finance, and Firm Dynamics written by Gabriel J. Felbermayr and published by . This book was released on 2012 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Book Synopsis Dynamics of International Trade and Economy by : Rajagopal
Download or read book Dynamics of International Trade and Economy written by Rajagopal and published by Nova Publishers. This book was released on 2007 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses a research analysis based on survey of literature and statistical analysis of the data available from secondary sources and argues the strategic partnership model developed by analysing the functional gap-map in reference to the political, economic, legal and trade related factors.
Book Synopsis The Dynamics of Entrepreneurship by : Maria Minniti
Download or read book The Dynamics of Entrepreneurship written by Maria Minniti and published by Oxford University Press. This book was released on 2013-02-14 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: As governments across the world look to entrepreneurship as a way to increase the wealth and well-being of their countries, this volume brings together leading scholars to provide a comprehensive overview of entrepreneurial activity based on empirical data.
Book Synopsis Intra-firm Trade by : Organisation for Economic Co-operation and Development
Download or read book Intra-firm Trade written by Organisation for Economic Co-operation and Development and published by . This book was released on 1993 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Outward Foreign Direct Investment of Chinese Enterprises by : Wei Tian
Download or read book Outward Foreign Direct Investment of Chinese Enterprises written by Wei Tian and published by Springer Nature. This book was released on 2022-09-12 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on China's fast-growing outward foreign direct investment (ODI) and discusses the underlying causes and profound effects of Chinese enterprises’ “going global.” The book includes eight chapters to analyze the basic characteristics of China's ODI manufacturing enterprises, examine the relationship between enterprise productivity and ODI, investigate the differences between state-owned enterprises and private enterprises in factor market, enterprise ownership and investment, analyze the overall effect of the foreign direct investment (FDI) and thereby the China–US bilateral investment treaties (BIT) on Chinese manufacturing sector in terms of productivity and profitability of the firms. The last chapter provides an overview of China’s three stages of economic reform and opening-up policy in the past four decades, and analyzes the reasons for China’s realization of the splendid economic achievements within such a short time and the main driving forces of China’s incremental international trade in different stages, and discusses the future tasks that would promote the country into a new stage of all-round opening-up. The book aims to illustrate the evolution of China’s opening-up design during the past decades and discuss several most important measures to build an all-around opening-up strategy. Based on these profound analyses, the book provides further policy implication for the sustainable development of China’s opening-up.
Book Synopsis Born Global Firms by : S. Tamer Cavusgil
Download or read book Born Global Firms written by S. Tamer Cavusgil and published by Business Expert Press. This book was released on 2009-08-01 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book helps managers and scholars understand the born-global phenomenon. We offer a comprehensive treatment of born globals, from distinctive features of these companies, to strategies that they use for international success, to implications of the phenomenon for international small- and medium-sized enterprises. We review useful theories and frameworks, as well as introduce a new field based on the born-global phenomenon - international entrepreneurship.
Download or read book Global Production written by Pol Antràs and published by Princeton University Press. This book was released on 2020-10-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Production is the first book to provide a fully comprehensive overview of the complicated issues facing multinational companies and their global sourcing strategies. Few international trade transactions today are based on the exchange of finished goods; rather, the majority of transactions are dominated by sales of individual components and intermediary services. Many firms organize global production around offshoring parts, components, and services to producers in distant countries, and contracts are drawn up specific to the parties and distinct legal systems involved. Pol Antràs examines the contractual frictions that arise in the international system of production and how these frictions influence the world economy. Antràs discusses the inevitable complications that develop in contract negotiation and execution. He provides a unified framework that sheds light on the factors helping global firms determine production locations and other organizational choices. Antràs also implements a series of systematic empirical tests, based on recent data from the U.S. Customs and Census Offices, which demonstrate the relevance of contractual factors in global production decisions. Using an integrated approach, Global Production is an excellent resource for researchers, graduate students, and advanced undergraduates interested in the inner workings of international economics and trade.
Book Synopsis Multinational Enterprises and the Global Economy by : John H. Dunning
Download or read book Multinational Enterprises and the Global Economy written by John H. Dunning and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 947 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many years to come this volume. . .is surely going to be the ultimate reference work on international business. . . thanks to Dunning and Lundan, have at their disposal, a wealth of relevant data, as well as theoretical and empirical analyses, which will enable them to assess the capabilities, contributions and challenges posed by the multinational enterprises to the global economy. Seev Hirsch, International Business Review Multinational Enterprises and the Global Economy has become a classic in international business. . . Yet , the book s second edition is even better than the first, in part because of Professor Dunning s wise decision to choose Dr Lundan as his co-author and to draw upon her deep knowledge of various strands of research on business government relations and the societal effects of firm behaviour. . . In addition to being a remarkably useful reference book, Multinational Enterprises and the Global Economy is the first book any IB doctoral student should read to understand the significance and richness of IB scholarship as it has developed over the past 50 years. Alain Verbeke, Journal of International Business Studies The second edition of Multinational Enterprises and the Global Economy provides unparalleled coverage not only of the literature relevant to IB research but also of the evolution of IB in the world economy. Dunning and Lundan offer powerful insights into the societal effects of MNEs and the role of business government relations in the IB context. Journal of International Business Studies This wonderful book offers the definitive synthesis of the modern literature on the economic aspects of international business. It is encyclopedic yet full of incisive insights. It is a creative masterpiece which unbundles the DNA of the multinational enterprise and shows how it is the cornerstone of the field of international business. Alan M. Rugman, University of Reading, UK The rise of the multinational enterprise, and the consequent globalisation of the world economy, was arguably the single most important phenomenon of the second half of the twentieth century. This magisterial book, written by two leading authorities, examines this phenomenon in depth. It explains how foreign investment by multinationals diffused advanced technologies and novel management methods, driving productivity growth in Europe, Asia and North America; however, economic inequalities were reinforced as rich countries attracted more foreign investment than poor ones. This new edition of a classic work is not only an authoritative guide to contemporary multinational business, but a major historical resource for the future. Mark Casson, University of Reading, UK This thoroughly updated and revised edition of a widely acclaimed, classic text will be required reading for academics, policymakers and advanced students of international business worldwide. Employing a distinctive and unified framework, this book draws together research across a range of academic fields to offer a synthesis of the determinants of MNE activity, and its effects on the economic and social well-being of developed and developing countries. Unique to the new edition is its focus on the institutional underpinnings of the resources and capabilities of MNEs, and the role of MNE activity in transmitting and facilitating institutional change. Since the initial publication of this book more than a decade ago, the economic, managerial and social implications of globalisation and technological advancement have become even more varied and prominent. Accompanying these developments, there has been a rise in scholarly interest in interdisciplinary research addressing the important challenges of an ever-changing physical and human environment. Drawing on articles and books from international business and economics, as well as economic geography, political economy and strategic management, a systematic overview of the developments in scholarly thinking is prese
Download or read book Champions Wanted written by Mélise Jaud and published by World Bank Publications. This book was released on 2015-04-21 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: While other emerging regions were thriving, MENA's aggregate export performance over the past two decades has been consistently weak. Using detailed firm-level export data from Customs administrations, this report explains why. One central finding is that the size distribution of MENA's exporting firms is suggestive of a critical weakness at the top. With the exception of the top firm, MENA's elite exporters are smaller and weaker compared to their peers in other regions. The largest exporter is alone at the top-Zidane without a team. MENA countries have failed to nurture a group of export superstars which critically contribute to export success in other regions. Part of the reason behind weak export performance is the lack of a competitive real exchange rate. The deleterious effects of an uncompetitive currency can be traced all the way down to the firm, hurting expansion at the intensive and extensive margin and preventing the emergence of export take-offs. The lack of heavy weight exporters at the top of the distribution also reflects the region's failure to push for trade and business climate reforms energetically. Finally, MENA's prevalent cronyism and corruption under pre-Arab Spring regimes (at least) confirms that business-government ties led to distortionary allocation of favors and rent dissipation by beneficiary firms, with little evidence that those firms developed into national champions or helped lift the region's export performance. The possibility of state capture in itself should call for caution when advocating any form of government intervention. In contrast, some interventions, like export promotion programs show effects on small exporters. However, because these firms are marginal in trade, such programs cannot be game changers. More broadly, the success of MENA countries in promoting export growth and diversification as well as generating jobs depends heavily on their ability to create an environment where large firms can invest and expand exports and new, efficient firms can rise to the top.
