Imported Machinery for Export Competitiveness
Imported Machinery for Export Competitiveness
This article analyzes the relationship between export competitiveness and investment in machinery, allowing for imperfect substitution between domestically produced and imported machinery. A trans log export price function is estimated for developed, export oriented developing, and import substituting developing economies in a panel data setting. Between 1967 and 1990 imported machinery helped lower export prices for export oriented developing economies. Moreover, throughout the period imported machinery was not a substitute for domestic machinery. Import substituting developing economies was unable to harness imported machinery to reduce costs early in the period, but from about the early 1980s, with the opening of their trade regimes, they were able to benefit from the cost reducing effect. The results imply that innovative effort based on imported technologies can be a precursor to the development of domestic innovation capabilities.
- World Bank United States
INTERNATIONAL COMPETITION, TRADE LIBERALIZATION, MARKET POWER, TRADE CONTROLS, GROWTH RATES, INVENTORY, ECONOMIC GROWTH, GROSS DOMESTIC PRODUCT, COUNTRY FIXED EFFECTS, EXPORT SECTOR, EXCHANGE RATES, CAPABILITY, COMMODITY, DEMAND FUNCTION, DEPRECIATION, PROFIT MAXIMIZING, DEMAND FUNCTIONS, EXPORT MARKETS, STOCKS, DEPENDENT VARIABLE, DOMESTIC MARKET, SUBSTITUTE, ENERGY PRICE, PRICE OF INVESTMENT GOODS, INCOME, INPUT PRICES, EXPORT GROWTH, FEDERAL RESERVE, PRODUCTIVITY, DOMESTIC CAPITAL, IMPORT, EXPLANATORY VARIABLES, SUBSTITUTION, COMPETITIVENESS, DOMESTIC ECONOMY, INDUSTRIAL DEVELOPMENT, PRODUCTION COSTS, R&D, EXCHANGE RATE MOVEMENTS, PROTECTION OF INTELLECTUAL PROPERTY, PC, TARGET MARKETS, E-MAIL, WORLD PRICE, PRICE ELASTICITY OF DEMAND, TRADE POLICY, USERS, MARGINAL COST, 330, VARIABLE INPUTS, FOREIGN DIRECT INVESTMENT, EXPLANATORY VARIABLE, INCOMES, PRICE OF EXPORTS, MARGINAL COSTS, DEVELOPMENT ECONOMICS, PRICE TAKERS, EXPORTERS, INTERNATIONAL MARKETS, WAGES, GLOBAL ECONOMY, IMPORT CONTROLS, DEMAND CURVE, TRADE BARRIERS, PROPERTY RIGHTS, DEREGULATION, DOMESTIC MARKETS, INTERNATIONAL FINANCIAL STATISTICS, EXPORTER, ID, TRADE STRATEGY, WORLD MARKET, DOLLAR VALUE, DEVELOPING ECONOMY, ELASTICITY, SUPPLIER, ABSORPTIVE CAPACITY, PRICE INDEX, PRIVATE CAPITAL, FUNCTIONAL FORMS, EXPORT INCENTIVES, EXPECTED VALUE, INDIVIDUAL FIRM, GOVERNMENT POLICIES, IMPORT BARRIERS, AVERAGE PRICE, CAPABILITIES, PRICE ELASTICITIES, IMPERFECT SUBSTITUTES, MARKETING, PRICE INDEXES, INTERNATIONAL COMPETITIVENESS, INNOVATION, DESCRIPTIVE STATISTICS, PRODUCTIVITY GROWTH, PRICE ELASTICITY, DEVELOPING ECONOMIES, ECONOMIC ACTIVITY, ELECTRICITY, GDP, INTELLECTUAL PROPERTY RIGHTS, COST REDUCTION, E-MAIL ADDRESS, MANUFACTURING, RANDOM DISTURBANCE, SUBSTITUTES, INTERNATIONAL ECONOMICS, RESULT, EXPORTS, AVERAGE EXCHANGE RATE, INVESTMENT DEMAND, LOCALIZATION, STANDARD DEVIATION, INTERNATIONAL TRADE, VALUE INDEX, CAPITAL STOCK, EFFECTIVE EXCHANGE RATES, OUTPUT, FACTOR DEMAND, EXCHANGE RATE, HUMAN CAPITAL, EQUIPMENT, TECHNOLOGICAL ADVANCE, ECONOMETRIC ANALYSIS, CURRENCY, TECHNOLOGICAL INNOVATION, INTELLECTUAL PROPERTY, DOMESTIC DEMAND, INVESTMENT RATE, MARKET PRICE, TRANSMISSION, CAPITAL GOODS, DEPRECIATION RATE, PUBLIC POLICY, INTERNATIONAL COMPARISONS, IMPORTS, GROWTH RATE, DEVELOPING COUNTRIES, BUYER, GROWTH THEORIES, TRADE REGIME, EFFECTIVE EXCHANGE RATE, TRADE REGIMES, PRICE BEHAVIOR, MATERIAL, DISECONOMIES OF SCALE, INSTALLATION, PROFIT MARGINS, DEVELOPMENT STRATEGIES, EXPORT DEVELOPMENT, WORLD MARKET SHARES, FOREIGN BUYERS, EXPORT GOODS, RESULTS, IMPERFECT COMPETITION, VARIANCE-COVARIANCE MATRIX, HOME MARKET, BUSINESSES, ECONOMIES OF SCALE, PRODUCTION FUNCTION, MARKET SHARES, EXPORT COMPETITIVENESS, CONSUMER GOODS, MONETARY ECONOMICS, ECONOMIC RESEARCH, LOCAL CURRENCY, VOLATILITY
INTERNATIONAL COMPETITION, TRADE LIBERALIZATION, MARKET POWER, TRADE CONTROLS, GROWTH RATES, INVENTORY, ECONOMIC GROWTH, GROSS DOMESTIC PRODUCT, COUNTRY FIXED EFFECTS, EXPORT SECTOR, EXCHANGE RATES, CAPABILITY, COMMODITY, DEMAND FUNCTION, DEPRECIATION, PROFIT MAXIMIZING, DEMAND FUNCTIONS, EXPORT MARKETS, STOCKS, DEPENDENT VARIABLE, DOMESTIC MARKET, SUBSTITUTE, ENERGY PRICE, PRICE OF INVESTMENT GOODS, INCOME, INPUT PRICES, EXPORT GROWTH, FEDERAL RESERVE, PRODUCTIVITY, DOMESTIC CAPITAL, IMPORT, EXPLANATORY VARIABLES, SUBSTITUTION, COMPETITIVENESS, DOMESTIC ECONOMY, INDUSTRIAL DEVELOPMENT, PRODUCTION COSTS, R&D, EXCHANGE RATE MOVEMENTS, PROTECTION OF INTELLECTUAL PROPERTY, PC, TARGET MARKETS, E-MAIL, WORLD PRICE, PRICE ELASTICITY OF DEMAND, TRADE POLICY, USERS, MARGINAL COST, 330, VARIABLE INPUTS, FOREIGN DIRECT INVESTMENT, EXPLANATORY VARIABLE, INCOMES, PRICE OF EXPORTS, MARGINAL COSTS, DEVELOPMENT ECONOMICS, PRICE TAKERS, EXPORTERS, INTERNATIONAL MARKETS, WAGES, GLOBAL ECONOMY, IMPORT CONTROLS, DEMAND CURVE, TRADE BARRIERS, PROPERTY RIGHTS, DEREGULATION, DOMESTIC MARKETS, INTERNATIONAL FINANCIAL STATISTICS, EXPORTER, ID, TRADE STRATEGY, WORLD MARKET, DOLLAR VALUE, DEVELOPING ECONOMY, ELASTICITY, SUPPLIER, ABSORPTIVE CAPACITY, PRICE INDEX, PRIVATE CAPITAL, FUNCTIONAL FORMS, EXPORT INCENTIVES, EXPECTED VALUE, INDIVIDUAL FIRM, GOVERNMENT POLICIES, IMPORT BARRIERS, AVERAGE PRICE, CAPABILITIES, PRICE ELASTICITIES, IMPERFECT SUBSTITUTES, MARKETING, PRICE INDEXES, INTERNATIONAL COMPETITIVENESS, INNOVATION, DESCRIPTIVE STATISTICS, PRODUCTIVITY GROWTH, PRICE ELASTICITY, DEVELOPING ECONOMIES, ECONOMIC ACTIVITY, ELECTRICITY, GDP, INTELLECTUAL PROPERTY RIGHTS, COST REDUCTION, E-MAIL ADDRESS, MANUFACTURING, RANDOM DISTURBANCE, SUBSTITUTES, INTERNATIONAL ECONOMICS, RESULT, EXPORTS, AVERAGE EXCHANGE RATE, INVESTMENT DEMAND, LOCALIZATION, STANDARD DEVIATION, INTERNATIONAL TRADE, VALUE INDEX, CAPITAL STOCK, EFFECTIVE EXCHANGE RATES, OUTPUT, FACTOR DEMAND, EXCHANGE RATE, HUMAN CAPITAL, EQUIPMENT, TECHNOLOGICAL ADVANCE, ECONOMETRIC ANALYSIS, CURRENCY, TECHNOLOGICAL INNOVATION, INTELLECTUAL PROPERTY, DOMESTIC DEMAND, INVESTMENT RATE, MARKET PRICE, TRANSMISSION, CAPITAL GOODS, DEPRECIATION RATE, PUBLIC POLICY, INTERNATIONAL COMPARISONS, IMPORTS, GROWTH RATE, DEVELOPING COUNTRIES, BUYER, GROWTH THEORIES, TRADE REGIME, EFFECTIVE EXCHANGE RATE, TRADE REGIMES, PRICE BEHAVIOR, MATERIAL, DISECONOMIES OF SCALE, INSTALLATION, PROFIT MARGINS, DEVELOPMENT STRATEGIES, EXPORT DEVELOPMENT, WORLD MARKET SHARES, FOREIGN BUYERS, EXPORT GOODS, RESULTS, IMPERFECT COMPETITION, VARIANCE-COVARIANCE MATRIX, HOME MARKET, BUSINESSES, ECONOMIES OF SCALE, PRODUCTION FUNCTION, MARKET SHARES, EXPORT COMPETITIVENESS, CONSUMER GOODS, MONETARY ECONOMICS, ECONOMIC RESEARCH, LOCAL CURRENCY, VOLATILITY
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