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Trade shocks and productivity growth with heterogeneous firms: Foreign ownership and the African experience.

机译：与异类公司的贸易冲击和生产力增长：外国所有权和非洲经验。

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摘要

As the world becomes increasingly interdependent, international trade has become progressively more important to the growth and survival of domestic industries. In this dissertation, I study the intra-industry dynamics of Sub-Saharan African manufacturing industries in the face of trade shocks. I argue that within the region, foreign-owned firms are less credit constrained and so can adapt to new market conditions more easily than domestically-owned firms. I build a theoretical model to explain how foreign ownership affects intra-industry resource reallocations within Sub-Saharan African industries after a trade shock. I also examine the productivity growth effects due to exporting within or outside Africa. I then test hypotheses from the model using a panel of firm-level data from four African countries. 1 test for the existence of foreign ownership effects on firm productivity growth, and whether foreign ownership differentially affects firm productivity in the face of a trade shock. The empirical shock is the African Growth and Opportunity Act (AGOA), implemented after the year 2000.;I find that foreign ownership positively and significantly affects firm productivity growth both before and after the trade shock. There also exist positive and significant spillover effects from the percentage of foreign ownership in an industry, but these appear only after the trade shock. As expected, exporting has positive and significant effects on firm productivity growth, but the effects vary by destination of exports. I test the validity of the results by means of a range of robustness checks.;Allowing for heterogeneous firms (and thus for divergent responses to trade shocks) uncovers a welfare story not captured in current theory. Foreign-owned firms are better-placed to exploit conditions of more open trade. If they expand, then the consequent reallocation of labor and other resources to the more productive firms could mean that on average, domestic firms actually lose from the trade shock. On the other hand, when trade is more open there is evidence of increased productivity spillovers from foreign-owned to domestic firms. Given that more than 80% of firms in the sample are domestically owned, the dominance of one effect or the other could have profound implications for their future growth and technological dynamism---and, if the sample is representative, for African manufacturing industry as a whole.
机译：随着世界变得越来越相互依存，国际贸易对国内工业的增长和生存变得越来越重要。在这篇论文中，我研究了面对贸易冲击的撒哈拉以南非洲制造业的产业内部动态。我认为，在该地区，外资公司的信贷约束较少，因此与本土公司相比，它们更容易适应新的市场条件。我建立了一个理论模型来解释在贸易冲击之后，外国所有权如何影响撒哈拉以南非洲产业内的产业内资源重新分配。我还研究了由于非洲内部或外部出口造成的生产力增长效应。然后，我使用来自四个非洲国家的一组公司级数据对模型的假设进行检验。 1检验了外国所有制的存在对公司生产率增长的影响，以及面对贸易冲击，外国所有制是否对公司生产率产生不同的影响。经验上的冲击是在2000年之后实施的《非洲增长和机会法案》（AGOA）。我发现，外资所有权在贸易冲击之前和之后均对公司生产率的增长产生积极和显着的影响。一个行业中外国所有权的比例也存在积极而显着的溢出效应，但这仅在贸易冲击之后才出现。正如预期的那样，出口对企业生产率的增长具有积极而显着的影响，但影响因出口目的地而异。我通过一系列的稳健性检验来检验结果的有效性。允许异类公司（因此对贸易冲击的反应不同）揭示了当前理论中未涵盖的福利故事。外资公司处于更有利于利用更开放贸易条件的位置。如果它们扩大了，那么劳动力和其他资源向生产力更高的公司的重新分配可能意味着，平均而言，国内公司实际上因贸易冲击而蒙受了损失。另一方面，当贸易更加开放时，有证据表明从外商拥有的企业到国内企业的生产率外溢增加。考虑到样本中超过80％的公司是国内企业，一种或另一种效应的主导地位可能对其未来的增长和技术活力产生深远影响-如果样本具有代表性，对于非洲制造业整个。

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  • 作者

    Bresnahan, Lauren R.;

  • 作者单位

    The University of Wisconsin - Madison.;

  • 授予单位 The University of Wisconsin - Madison.;
  • 学科 Economics General.;Sub Saharan Africa Studies.;Political Science International Relations.
  • 学位 Ph.D.
  • 年度 2011
  • 页码 183 p.
  • 总页数 183
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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