The life-cycle dynamics of exporters and multinational firms

被引：17

作者：

Gumpert, Anna ^{[1
,2
,3
]}

Li, Haishi ^{[4
]}

Moxnes, Andreas ^{[5
,6
]}

Ramondo, Natalia ^{[7
,8
]}

Tintelnot, Felix ^{[4
,8
]}

机构：

[1] CEPR Europe, London, England

[2] CESifo, Munich, Germany

[3] LMU, Munich, Germany

[4] Univ Chicago, Chicago, IL 60637 USA

[5] Univ Oslo, Oslo, Norway

[6] CEPR, Oslo, Norway

[7] UCSD, La Jolla, CA 92093 USA

[8] NBER, Cambridge, MA 02138 USA

来源：

JOURNAL OF INTERNATIONAL ECONOMICS | 2020年 / 126卷

基金：

欧洲研究理事会;

关键词：

International trade; Exporters; Multinational firm; Markov process; Sunk cost; Proximity-concentration trade-off; Trade liberalization; FOREIGN DIRECT-INVESTMENT; INTERNATIONAL-TRADE; ENTRY; EXIT; SUBSTITUTION; GROWTH; COSTS;

D O I：

10.1016/j.jinteco.2020.103343

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper studies the life-cycle dynamics of exporters and multinational enterprises (MNEs). Using rich firm-level data, we document a comprehensive set of facts on entry, exit, and growth of new exporters and new MNEs. Guided by these facts, we build a model based on the standard proximity-concentration trade-off extended to incorporate time-varying firm productivity and sunk costs of MNE entry. The calibrated version of the model goes far in matching cross-sectional and dynamic moments of the data on exporters and MNEs. Our results point to much higher sunk costs for MNE than for export activities. Finally, we show how including the choice to become an MNE affects the predicted export dynamics after a trade liberalization episode. (C) 2020 Elsevier B.V. All rights reserved.

引用

页数：38

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