Does Export Yield Productivity and Markup Premiums? Evidence from the Japanese manufacturing industry
Does Export Yield Productivity and Markup Premiums? Evidence from the Japanese manufacturing industry
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发表时间：
2014-07
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通讯作者：
Atsuyuki Kato
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作者：
Atsuyuki Kato
本文使用2000-2010年间日本制造业丰富的企业级数据，检验了生产率、加价和国外市场发展之间的关系。利用对企业特定生产率和加价的估计，我们调查了通过出口开发海外市场是否会对它们的市场表现产生溢价。我们的研究证实，出口具有显著的生产率和加价溢价。此外，各目的地市场的出口溢价也各不相同。对亚洲的出口显示出显著的生产率溢价，而其他市场则没有。在加价方面，对亚洲和北美的出口溢价很高。这些发现表明，在评估国外市场的发展时，生产率和加价都应该被考虑在内。
This paper examines the relationship between productivity, markups, and development of foreign markets using a rich firm-level dataset of the Japanese manufacturing industry during the period 2000-2010. Using estimates of firm-specific productivity and markups, we investigate if the development of foreign markets through exports has a premium for their market performance. Our study confirmed that exports have significant productivity and markup premiums. In addition, export premiums vary across the destination markets. Exports to Asia show a significant productivity premium while other markets do not. For markups, exports to Asia and North America have a significant premium. These findings imply that both productivity and markups should be considered in assessing the development of foreign markets.