Firm-Level Evidence on Productivity Differentials and Turnover in Vietnamese Manufacturing
Tóm tắt
This paper examines the relationship between productivity differentials and firm turnover in Vietnamese manufacturing. We utilize firm-level data between 2000 and 2009, including the year 2007, when Vietnam joined the World Trade Organization. Our major findings are twofold. First, the productivity of entrants, survivors and exiters increased simultaneously from 2006 to 2007. This result suggests that the cut-off productivity level increased after trade liberalization. Second, the resource reallocation between firms was facilitated after the liberalization. These findings are consistent with the implications of the recent models of international trade and firm heterogeneity.
Tài liệu tham khảo
Amiti, M. and J. Konings (2007) “Trade Liberalization, Intermediate Inputs, and Productivity: Evidence from Indonesia”, American Economic Review, Vol. 97, No. 5, pp. 1611–1638.
Aw, B. Y., X. Chen and M. J. Roberts (2001) “Firm-Level Evidence on Productivity Differentials and Turnover in Taiwanese Manufacturing”, Journal of Development Economics, Vol. 66, No. 1, pp. 51–86.
—, S. Chung and M. J. Roberts (2003) “Productivity, Output, and Failure: A Comparison of Taiwanese and Korean Manufacturing”, Economic Journal, Vol. 113, No. 491, pp. F485–F510.
Baily, M. N., C. Hulten and D. Campbell (1992) “Productivity Dynamics in Manufacturing Plants”, Brooking Papers on Economic Activity: Microeconomics, Vol. 1992, pp. 187–267.
Bernard, A. B., J. B. Jensen, S. J. Redding and P. K. Schott (2012) “The Empirics of Firm Heterogeneity and International Trade”, Annual Review of Economics, Vol. 4, pp. 283–313.
—, S. J. Redding and P. K. Schott (2007) “Comparative Advantage and Heterogeneous Firms”, Review of Economic Studies, Vol. 4, No. 1, pp. 31–66.
Chu, N. S. and K. Kalirajan (2011) “Impact of Trade Liberalization on Technical Efficiency of Vietnamese Manufacturing Firms”, Science, Technology and Society, Vol. 16, No. 3, pp. 265–284.
De Loecker, J. (2011) “Product Differentiation, Multi-Product Firms and Estimating the Impact of Trade Liberalization on Productivity”, Econometrica, Vol. 79, No. 5, pp. 1407–1451.
Fernandes, A. M. (2007) “Trade Policy, Trade Volumes and Plant-Level Productivity in Colombian Manufacturing Industries”, Journal of International Economics, Vol. 71, No. 1, pp. 52–71.
Foster, L., J. Haltiwanger and C. J. Krizan (2001) “Aggregate Productivity Growth: Lessons from Microeconomic Evidence”, in C. R. Hulten, E. R. Dean and M. J. Harper, eds, New Developments in Productivity Analysis, Chicago, IL: University of Chicago Press, pp. 303–363.
Fukao, K. and H. U. Kwon (2006) “Why Did Japan’s TFP Growth Slow Down in the Lost Decade?An Empirical Analysis Based on Firm-Level Data of Manufacturing Firms”, Japanese Economic Review, Vol. 57, No. 2, pp. 195–228.
— (2010) Vietnamese Enterprises in the First Nine Years of 21st Century, Hanoi, Vietnam: GSO (In Vietnamese).
Good, D. H., M. I. Nadiri and R. C. Sickles (1997) “Index Number and Factor Demand Approaches to the Estimation of Productivity”, in M. H. Pesaran and P. Schmidt, eds, Handbook of Applied Econometrics: Microeconometrics, Vol. II, Oxford, UK: Blackwell, pp. 14–80.
Griliches, Z. and H. Regev (1995) “Firm Productivity in Israeli Industry 1979–1988”, Journal of Econometrics, Vol. 65, No. 1, pp. 175–203.
Kimura, F. and K. Kiyota (2006) “Exports, FDI, and Productivity: Dynamic Evidence from Japanese Firms”, Review of World Economics, Vol. 142, No. 4, pp. 695–719.
— and — (2007) “Foreign-Owned Versus Domestically-Owned Firms: Economic Performance in Japan”, Review of Development Economics, Vol. 11, No. 1, pp. 31–48.
Kiyota, K. and T. Okazaki (2005) “Foreign Technology Acquisition Policy and Firm Performance in Japan, 1957–1970: Micro-Aspect of Industrial Policy”, International Journal of Industrial Organization, Vol. 23, No. 7–8, pp. 563–586.
Levinsohn, J. A. and A. Petrin (2003) “Estimating Production Functions Using Inputs to Control for Unobservables”, Review of Economic Studies, Vol. 70, No. 2, pp. 317–340.
McGuckin, R. H. and S. V. Nguyen (1995) “On Productivity and Plant Ownership Change: New Evidence from the Longitudinal Research Database”, RAND Journal of Economics, Vol. 26, No. 2, pp. 257–276.
Melitz, M. J. (2003) “The Impact of Trade on Aggregate Industry Productivity and Intra-Industry Reallocations”, Econometrica, Vol. 71, No. 6, pp. 1695–1725.
Nguyen, N. A., P. M. Nguyen, D. N. Nguyen and D. C. Nguyen (2011) “Trade Liberalization and Innovation Linkages- Micro-Evidence from Vietnam SME Surveys”, in C. H. Hanh and D. Narjoko, eds, Globalization and Innovation in East Asia (ERIA Research Project Report 2010-4), pp. 315–340. Jakarta: Economic Research Institute for ASEAN and East Asia.
Nishimura, K. G., T. Nakajima and K. Kiyota (2005) “Does the Natural Selection Mechanism Still Work in Severe Recessions?—Examination of the Japanese Economy in the 1990s”, Journal of Economic Behavior and Organization, Vol. 58, No. 1, pp. 53–78.
Olley, S. G. and A. Pakes (1996) “The Dynamics of Productivity in the Telecommunications Equipment Industry”, Econometrica, Vol. 64, No. 6, pp. 1263–1297.
Pavcnik, N. (2002) “Trade Liberalization, Exit, and Productivity Improvements: Evidence from Chilean Plants”, Review of Economic Studies, Vol. 69, No. 1, pp. 245–276.
Topalova, P. and A. Khandelwal (2011) “Trade Liberalization and Firm Productivity: The Case of India”, Review of Economics and Statistics, Vol. 93, No. 3, pp. 995–1009.
Tran, Q. T. and T. T. Nguyen (2008) “Effect of Trade Liberalization on Non-farm Households SMEs in Vietnam”, DEPOCEN, Working Paper Series, No. 2008/32, Development and Policies Research Center (DEPOCEN), Vietnam.
Tybout, J. R. (2003) “Plant- and Firm-Level Evidence on “New” Trade Theories”, in E. K. Choi and J. Harrigan, eds, Handbook of International Trade, Oxford: Basil Blackwell, pp. 388–415.
van Biesebroeck, J. (2007) “Robustness of Productivity Estimates”, Journal of Industrial Economics, Vol. 55, No. 3, pp. 529–569.
World Bank (2012) World Development Indicators (Online Database), Washington, DC: World Bank.
Yang, C.-H. and C.-H. Huang (2012) “Ownership Reform, Trade Liberalization, and Productivity in Transition: Firm-level evidence from Vietnam”, paper presented at the 13th International Convention of the East Asian Economic Association, Singapore, October 2012.