Propagation and Amplification of Local Productivity Spillovers

• 成果类型: Article
• 署名作者: Giroud, Xavier; Lenzu, Simone; Maingi, Quinn; Mueller, Holger
• 署名单位: Columbia University; University of Cambridge; Centre for Economic Policy Research - UK; New York University; University of Southern California
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA20029
• 发表日期: 2024
• 页码: 1589-1619
• 关键词: economic-development; TRADE; migration; networks; IMPACT; gains

摘要

The gains from agglomeration economies are believed to be highly localized. Using confidential Census plant-level data, we show that large industrial plant openings raise the productivity not only of local plants but also of distant plants hundreds of miles away, which belong to large multi-plant, multi-region firms that are exposed to the local productivity spillover through one of their plants. This global productivity spillover does not decay with distance and is stronger if plants are in industries that share knowledge with each other. To quantify the significance of firms' plant-level networks for the propagation and amplification of local productivity shocks, we estimate a quantitative spatial model in which plants of multi-region firms are linked through shared knowledge. Counterfactual exercises show that while large industrial plant openings have a greater local impact in less developed regions, the aggregate gains are greatest when the plants locate in well-developed regions, which are connected to other regions through firms' plant-level (knowledge-sharing) networks.