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- Publisher Website: 10.1016/j.jinteco.2020.103343
- Scopus: eid_2-s2.0-85085570233
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Article: The life-cycle dynamics of exporters and multinational firms
Title | The life-cycle dynamics of exporters and multinational firms |
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Authors | |
Keywords | Exporters International trade Markov process Multinational firm Proximity-concentration trade-off Sunk cost Trade liberalization |
Issue Date | 2020 |
Citation | Journal of International Economics, 2020, v. 126, article no. 103343 How to Cite? |
Abstract | 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. |
Persistent Identifier | http://hdl.handle.net/10722/318831 |
ISSN | 2023 Impact Factor: 3.8 2023 SCImago Journal Rankings: 4.583 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Gumpert, Anna | - |
dc.contributor.author | Li, Haishi | - |
dc.contributor.author | Moxnes, Andreas | - |
dc.contributor.author | Ramondo, Natalia | - |
dc.contributor.author | Tintelnot, Felix | - |
dc.date.accessioned | 2022-10-11T12:24:39Z | - |
dc.date.available | 2022-10-11T12:24:39Z | - |
dc.date.issued | 2020 | - |
dc.identifier.citation | Journal of International Economics, 2020, v. 126, article no. 103343 | - |
dc.identifier.issn | 0022-1996 | - |
dc.identifier.uri | http://hdl.handle.net/10722/318831 | - |
dc.description.abstract | 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. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of International Economics | - |
dc.subject | Exporters | - |
dc.subject | International trade | - |
dc.subject | Markov process | - |
dc.subject | Multinational firm | - |
dc.subject | Proximity-concentration trade-off | - |
dc.subject | Sunk cost | - |
dc.subject | Trade liberalization | - |
dc.title | The life-cycle dynamics of exporters and multinational firms | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.jinteco.2020.103343 | - |
dc.identifier.scopus | eid_2-s2.0-85085570233 | - |
dc.identifier.volume | 126 | - |
dc.identifier.spage | article no. 103343 | - |
dc.identifier.epage | article no. 103343 | - |
dc.identifier.eissn | 1873-0353 | - |
dc.identifier.isi | WOS:000577810700010 | - |