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包歌老师的合作论文被国际一流经济学期刊American Economic Journal: Applied Economics接受发表
发布时间:2017-10-12   发布人:zs   点击数:362

国际经济贸易学院助理教授包歌与乔治华盛顿大学教授Maggie X. Chen的合作论文Foreign Rivals are Coming to Town: Responding to the Threat of Foreign Multinational Entry被国际一流经济学期刊American Economic Journal: Applied Economics接受发表。

Abstract: How do domestic firms respond to the threat of foreign competition? This paper quantifies the threat of foreign competition by exploiting news of potential multinational investments appearing in over 35,000 newspapers, business presses, magazines, newswires, and other forms of media in 200 countries. Using unique time-variant firm-specific measures of foreign multinational threat, the analysis shows that domestic firms respond to the threats by upgrading productivity, raising innovation, investment and wage rate, and altering product composition. However, there is a U-shape relationship between initial productivity and productivity growth; both the right and the left tails upgrade productivity, through increased innovation and product dropping, respectively. Actual multinational competition, in contrast, leads to product churning only. These previously unexplored responses to the threat of foreign competition constitute an economically important source of gains from globalization and convey new implications for the timing, evolvement, and form of industrial, trade and investment policies.
 
传统上,对外商直接投资的研究多集中在投资行为发生后,较少关注实际投资前的潜在竞争机制。本文开创性提出跨国公司投资信号量化方法,基于35000种媒体信息大数据建立跨年度、跨行业、跨国别企业潜在投资数据库,以此为基础分析跨国公司潜在竞争对本土企业生产效率的影响机制,并探究东道国企业应对外商竞争的具体措施和动态过程。本文发现,在外商投资实现前,东道国企业面临“面对面”同行业外商潜在投资,其生产效率已经显著增长,这一现象在全世界范围具有普遍性。跨国公司潜在投资及其对东道国企业的潜在竞争机制,如同实际投资后对东道国企业所产生的竞争和技术溢出效应一样,均会对东道国市场产生重要影响。现有研究分析跨国公司投资后东道国企业生产效率和技术提高时,将其仅仅归因于外资企业带来的外部性效应,显著低估了跨国公司全球化所带来的影响。这一发现表明,政府需要全盘认识外商直接投资的全过程,既要重视外商投资后带来的溢出效应,更要重视外资投资前的产业政策动态优化。

包歌博士2015年毕业于美国乔治华盛顿大学。主要研究领域为国际贸易、外国直接投资、房地产金融,研究成果发表在American Economic Journal: Applied Economics以及Journal of Real Estate Finance and Economics。2011-2013 年担任世界银行贸易与发展研究部经济顾问。

 

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