Effects of Economic Liberalization in Brazil: Empirical Analysis of Industries and Firms

自20世纪90年代以来，巴西进行了大幅度的经济自由化，对巴西的经济和社会产生了巨大的影响。在巴西，对自由化有许多反对意见。作为巴西自由化这一问题的基础研究之一，本项目旨在调查自由化对巴西产业和公司的影响，有两个不同的目标。首先，我们研究了自由化对增长绩效、生产率提高以及行业和企业盈利能力的影响。其次，我们创建了一个数据库，使计量经济学分析成为可能。该数据库收集了FGV的《500家主要企业》、世界银行的《投资环境评估》数据库、Gazeta Mercantil的《平衡年鉴》、Valor Economico的《价值1000》、CNODE的《Melhores e Maiores》和IBGE的《Pesquisa nacional por Amastra de Domicilios》。在项目实施的三年中，我们发表了有关汽车工业、钢铁工业、工业和信息技术的各种论文。 ...更多信息 巴西的农业、生物乙醇工业、电信工业和啤酒工业，重点关注以下主题：自由化的影响、生产力的提高、增长业绩、并购和管理战略、利润结构、市场竞争、就业和工资的变化、出口业绩、技术变革和新技术的获得等。摘要本研究探讨自由化对厂商成长、厂商全要素生产率与厂商开放态度（如出口行为、对外经营、研发行为、进口材料、国外许可）之间关系的影响。通过两阶段最小二乘回归的面板分析得出的初步结论是，对外开放程度越高的企业，其TFP越高，企业的增长率越高。然而，通过同时估计，我们可以说，较高的企业收入增长有一种倾向，通过诉诸生产要素的使用来应对其产品的高增长，从而降低TFP减

Brazil has been conducting economic liberalization very drastically since 1990s, of which effects on economy and society in Brazil has been very significant. In Brazil there are many opposing opinions on liberalization. As one of basic researches on this question regarding Brazilian liberalization, this projects aims to investigate the effects of liberalization on Brazilian industries and firms with two different objectives. First we investigated the effects of liberalization on growth performance, productivity improvements and profitability of industry and firm. Second, we created a database that makes possible econometrical analysis. The database collected 500 Maiores Empresas by FGV, Investment Climate Assessment database by World Bank, Balanco Annual by Gazeta Mercantil, Valor 1000 by Valor Economico, Melhores e Maiores by EXAME and Pesquisa nacional por Amastra de Domicilios by IBGE.During three years of the project, we published various papers on automobile industry, steel indust … More ry, bio-ethanol industry, telecommunication industry and beer industry in Brazil focusing on the following subjects: the effects of liberalization, productivity improvements, growth performance, M&A and management strategies, profit structures, market competition, changes in employments and wages, export performance, technological change and new technological acquisitions, etc. Moreover, using firm micro-data, a tentative analysis was carried out to capture the effects of liberalization on the relation among growth of firms, total factor productivity of firms, and firm attitude for openness such as export behavior, foreign operation, R&D behavior, import materials, licensing from abroad. In a tentative conclusion of panel analysis by 2 stage least square regression, we can say that the firms that are open to world economy is likely to have higher TFP and on the other hand higher TFP is likely to have higher growth rates of firms. However by a simultaneous estimation, we can say that higher firm's growth in revenue has a tendency to reduce TFP by resorting to use of production factors to respond to a high growth of their products Less