2024年3月5日（周二）13:30-15:00 张红松  （香港大学）

讲座系列：前沿专题系列讲座第43场

讲座人：张红松（香港大学经管学院副教授）

时间：2024年3月5日（周二）13:30-15:00

地点：博学楼1222

主持人：徐朝阳（对外经贸大学国际经济贸易学院经济学系教授、系主任）

讲座题目：Returns to Scale, Productivity, and Markup: Revisit the Export Premium

讲座摘要：The productivity effect of exports has been the foundation for many trade-related policies. However, empirical studies usually find a mixed effect. We show that increasing returns to scale and markup are two important sources of gains from exports, in addition to the productivity effect. Because output prices are typically unavailable in most micro-data sets, we develop a new method to consistently estimate firm-level markup, productivity, and returns to scale jointly, using the widely available revenue and input expenditure. We find that export has substantial efficiency gains, half of which is contributed by increasing returns to scale and the other half by export's productivity premium. The improved efficiency allows exporters to charge a higher markup but at a lower price. Taken together, the firm's profit increases by about a quarter after export in the Chinese manufacturing industry; consumers also benefit from lower prices. Increasing returns to scale also provides an explanation for why TFPR may fail to capture the export premium.

主讲人简介：

Dr. Hongsong ZHANG is an Associate Professor of Economics at the University of Hong Kong （HKU）. He also serves as the Associate Director for the Institute for China Economy at HKU （ICE） and the Associate Director of Economic Strategy Center at the HKU Business School Shenzhen Research Institute. His main research interests cover topics in empirical industrial organization, international trade, and applied microeconomics, with a special focus on how firms’ competitiveness in productivity, supplier network, and demand affect firm performance in the domestic and international markets. His research has been published in leading journals in Economics, such as RAND Journal of Economics, Economic Journal, Review of Economics and Statistics, International Economic Review, European Economic Review, and Journal of Development Economics. Starting 2020, he serves as an Associate Editor for the International Journal of Industrial Organization （IJIO）. He also serves as an Executive Committee Member for China Trade Research Group since 2018. He has won multiple external grants from the General Research Funds of the Hong Kong Research Grants Council. Dr. Zhang obtained his Ph.D. in Economics from the Pennsylvania State University in 2013.

讲座人主页：

https://www.hkubs.hku.hk/sc/people/hongsong-zhang/