This paper explores a newly available panel dataset merging balance sheet and international trade transaction data for Belgium. Both imports and exports appear to be highly concentrated among few ...firms and seem to have become more so over time. Focusing on manufacturing, we find that facts previously reported in the literature as applying only to exports actually apply to imports too. We note that the number of trading firms diminishes as the number of export destinations or import origins increases. The same is true if we consider the number of products traded. Our results generally point to a process of self‐selection in both export and import markets. Also, the productivity advantage of exporters reported in the literature may be overstated because imports were not considered. We find that firms that both import and export are the most productive, followed, in descending order, by importers only, exporters only and non‐traders. Our results also show the existence of fixed costs of imports, which appear to be of similar magnitude as those of exports.
The literature on international trade and firm performance grows exponentially. This paper attempts to summarize what we learn from this literature to guide future empirical and theoretical work in ...this area. The focus is on the empirical part of the literature that consists of recently published papers using data for firms from manufacturing or services industries to study the links between international trade (exports and imports) and dimensions of firm performance (productivity, wages, profitability and survival).
Pakistan ranks among the top leading textile exporters in the World, which is its major tradable product with more than 56% contribution to total export receipts. This study investigates determinant ...and potential export markets for textile-clothing and apparel exports of Pakistan across 58 global trading partners, 26 from Asia and Africa and 32 from Europe, America, and Oceania. The augmented versions of the gravity model are estimated by employing contemporary panel econometric to explore the effects of selected macroeconomic and policy variables on export flow. The findings urge Pakistan to address domestic supply-side constraints that have a significant positive effect of higher intensity of export flow. The results of core variables are consistent with the theory of gravity model and augmented variables reveal that relative prices have a significant positive impact of lower elasticity; whereas binary variables urge Pakistan to enhance its regional trade with regional and border for shared prosperity. The free trade agreements with Malaysia, China, and the USA along with GPS plus status are significantly creating exports from the textile sector; therefore, attempts should be taken to expand them. Moreover, the findings of the export potential show untapped potential markets for the textile sector.
Combining data on structural characteristics and economic performance for a large sample of Italian firms with data on exporting and importing activity, we uncover evidence supporting recent theories ...on firm heterogeneity and international trade, together with some new facts. In particular, we find that importing is associated with substantial firm heterogeneity. First, we document that trade is more concentrated than employment and sales, and show that importing is even more concentrated than exporting both within sectors and along the sector‐ and country‐extensive margins. Second, while supporting the fact that firms involved in both are the best performers, we also find that firms involved only in importing activities perform better than those involved only in exporting. Our evidence suggests there is a strong self‐selection effect in the case of importers and the performance premia of internationalised firms correlate relatively more with the degree of geographical and sectoral diversification of imports.
Economic complexity is considered key a driver of social change, structural change, and economic development. Economic complexity is mostly used to capture issues apropos product diversification of ...exports, trade, technological innovation, human knowledge, and skills. The current study has conducted a detailed bibliometric review of economic complexity, export quality, and trade diversification. In doing so, the authors used the literature up to 2021 to unveil economic complexity’s contextual information that witnessed structural change, social change, and trade indicators. The current study is the first integrative review to report the theoretical contribution, future research agendas, and thematic analysis of economic complexity, export quality, and export diversification. Our study, on the subject of economic complexity, export diversification, and import diversification in the period from 1966 to 2021, was carried out by systematically scanning 386 documents, and it is one of the pioneering studies in this field. In addition, economic diversity, development, and economic complexity; export diversification, import diversification, trade openness, and economic growth; energy, environmental Kuznets curve, and economic complexity; and sustainability and economic diversification are the four main research topics of the study. The findings are discussed apropos of economic complexity and exports, methodological aspects of economic complexity, and environmental issues nexus with economic complexity. The current study reports novel findings toward a path for achieving SDG-9 (industry and innovation) and SDG-13 (climate action). The biometric review enables researchers and policymakers to understand export quality, economic complexity, and the trade nexus and report future research directions for achieving sustainable growth in industries and innovation.
Wholesalers in international trade Crozet, Matthieu; Lalanne, Guy; Poncet, Sandra
European economic review,
02/2013, Letnik:
58
Journal Article
Recenzirano
Odprti dostop
Recent empirical research in international trade has revealed overwhelming evidence that, in all countries, a remarkably small proportion of firms report exports in Customs statistics. However, a ...large share of these are wholesalers. This suggests that the number of producers selling their products abroad might be much greater than that suggested by a simple count of the firms directly reporting their exports. This paper sheds light on the role of wholesalers in international trade. Our model uses very general assumptions to show that intermediated exporters may contribute significantly to the extension of countries' export opportunities. The model predicts a twofold role in international trade. First, wholesalers alleviate the difficulty of reaching less-accessible markets. Second, they help less-efficient firms to supply foreign markets, thus increasing the number of exported varieties at the aggregate level. We use French firm-level export data to provide empirical support for these two predictions.
► This paper sheds light on the role of wholesalers in international trade. ► Our model predicts that wholesalers alleviate the difficulty of reaching less-accessible markets. ► It also suggests that they help less-efficient firms to supply foreign markets. ► We use French firm-level export data to provide empirical support for these two predictions.
We investigate export competition between China and Latin America and the Caribbean (LAC) in the United States market between 2002 and 2022. Using a sample of 33 exporters and 10‐digit Harmonised ...Tariff Schedule (HS) level trade data, we estimate a structural gravity model using an instrumental variable constructed from Chinese exports to eight other industrialised nations. We use a first‐order Taylor‐series expansion à la Baier and Bergstrand (Journal of International Economics, 2009a, 77, 77) to approximate the multilateral price terms pointed out by Anderson and Van Wincoop (American Economic Review, 2003, 93, Article 1). The results show that the impact of Chinese exports on United States imports from LAC is negative and statistically significant across several model specifications, levels of aggregation, and sectors. A percentage increase in imports from China decreased imports from LAC by ca. 0.75%. The displacement effect is ca. 0.32 for manufacturing products, 1.01 for resource‐based products, 1.33 when estimated only for South America, 0.25 for the Caribbean, and not significant for Central America.
This paper examines the impact of financial frictions on exports through trade intermediaries theoretically and empirically. I present a heterogeneous firm model of trade intermediation and financial ...frictions, in which firms require external finance for their trade costs. Since exporting through intermediaries entails lower fixed costs but higher variable costs, firms facing greater financial frictions are more likely to pursue intermediated trade. The model finds strong empirical support in rich data for indirect versus direct exporting at both the micro and macro levels. Micro-level data for over 9,000 firms in 115 countries reveals that financially more constrained firms are more likely to use trade intermediaries in exporting. Correspondingly, macro-level data of entrepôt trade through Hong Kong for 56 exporting countries shows that financially less developed countries are more likely to rely on trade intermediation. Both of these effects are stronger in financially more vulnerable industries and are not driven by other firm- and country-level determinants of exporting. These results have policy implications for the role of trade intermediaries in compensating for capital market frictions, in particular, as a means to enhance the gains from trade.
China's civil nuclear industry expanded strongly from 2008 onwards and nearly half of reactor construction starts worldwide since then are accounted for by the Chinese home market. Increasingly China ...is turning its attention to the export market using its own designs, which it claims emulate the safety standards of the latest designs of the established nuclear reactor vendors. Its export efforts would be greatly strengthened if it were to win an order from an established user of nuclear power and its best opportunity appears to be the UK where it is at the early stages of negotiating the construction of nuclear reactors. The financial collapse of the French nuclear company, Areva, gives it the opportunity to take a stake in the rescued companies giving it access to important fuel cycle technologies and perhaps the large French reactor service market. Its other export prospects in Europe are in Romania and Turkey. There are a number of issues European governments need to examine before committing to allow in Chinese nuclear companies. These include national security concerns about dependence on China for key infrastructure, issues of quality control and regulatory competence and the lack of construction experience with China's modern reactor designs.
•China's nuclear industry expanded fast in the last decade and is targeting exports.•Success in Europe would be a major boost to prospects elsewhere.•National security concerns must be examined before investment decisions are taken.•China's quality control and regulatory competence should be assessed.•China's modern reactor designs are untested even in China.
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