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Identifier to cite or link to this item: https://hdl.handle.net/10086/18577

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Title
Trade, Capital Redistribution and Firm Structure
Creator
Creator Name
Qiu, Larry D. Qiu, Larry D.
Affiliation
Affiliation Name
University of Hong Kong
Creator Name
Zhou, Wen Zhou, Wen
Affiliation
Affiliation Name
University of Hong Kong
Editor
Contributor Name
社会科学の高度統計・実証分析拠点構築 = Research Unit for Statistical and Empirical Analysis in Social Sciences
Affiliation
Affiliation Name
Hitotsubashi University
Key Word
firm heterogeneity
trade liberalization
multiproduct
multifactor
firm structure
scale
scope
mergers and acquisitions
JEL
F12
F13
F15
L11
L25
Abstract
A model of heterogeneous firms with multiple products and two production factors (labor and capital) is used to study how trade liberalization affects firms' choices through both product and factor markets. Trade liberalization is shown to always redistribute capital toward more efficient firms and always to improve an industry's total factor productivity. However, it may reduce capital prices and cause labor productivity to drop. Low efficiency firms are affected mainly by changes in the factor market, while high efficiency firms are affected mainly by changes in the product market. In response to trade liberalization, low efficiency firms always reduce their product scope, but high efficiency firms may expand their scope. The model demonstrates the importance of the interplay between product and factor markets.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2010-06
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Global COE Hi-Stat Discussion Paper Series ; No. 142
Relation
Related Identifier
URI
  http://gcoe.ier.hit-u.ac.jp/english/index.html
Number of Pages
31
Sponsorship
グローバルCOEプログラム = Global COE Program
Appears in Collections
Global COE Hi-Stat Discussion Paper Series
URL
https://hdl.handle.net/10086/18577