FIRM-LEVEL INVESTMENT AND EXPORT DYNAMICS

• 成果类型: Article
• 署名作者: Rho, Youngwoo; Rodrigue, Joel
• 署名单位: Vanderbilt University
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12156
• 发表日期: 2016
• 页码: 271-304
• 关键词: credit constraints; TRADE; MARKET; PRODUCTIVITY; size; Heterogeneity; adjustment; IMPACT; GROWTH; COSTS

摘要

This article characterizes the complementarity between exporting and investment in physical capital. We argue that new investment allows young exporters to grow faster and survive longer in export markets while reducing their vulnerability to productivity or demand shocks across markets. We structurally estimate our model using detailed firm-level data. We find that the choice of cost structure has a large impact on model performance and the estimated costs of exporting or investment. Using detailed capital and output tariff rates, we quantify the impact of policy change on aggregate export and investment growth.