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The Life-Cycle Dynamics of Exporters and Multinational Firms

Author

Listed:
  • Gumpert, Anna

    (LMU Munich)

  • Moxnes, Andreas

    (University of Oslo)

  • Ramondo, Natalia

    (University of California at San Diego)

  • Tintelnot, Felix

    (University of Chicago)

Abstract

This paper studies the life-cycle dynamics of exporters and multinational enterprises (MNEs). We present a dynamic model of trade and MNE activity in which the mode of serving a market depends on the well-known proximity-concentration tradeoff. We show that the option of performing MNE activities in the model produces life-cycle patterns for exporters that differ from those in an export-only model. Calibrating our model to rich firm-level data from France and Norway, our main quantitative finding is that a reduction in trade costs triggers much larger responses in growth rates and exit rates, for young exporters, in the model with MNEs than in the model without MNEs. We also show that the model is largely consistent with a set of new facts on the joint life-cycle dynamic behavior of exporters and MNEs.

Suggested Citation

  • Gumpert, Anna & Moxnes, Andreas & Ramondo, Natalia & Tintelnot, Felix, 2017. "The Life-Cycle Dynamics of Exporters and Multinational Firms," Rationality and Competition Discussion Paper Series 55, CRC TRR 190 Rationality and Competition.
    • Handle: RePEc:rco:dpaper:55
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    6. Feng Liu & Kwangtae Park & Unjung Whang, 2019. "Organizational Capabilities, Export Growth and Job Creation: An Investigation of Korean SMEs," Sustainability, MDPI, vol. 11(14), pages 1-16, July.
    7. Pol Antr�s & Evgenii Fadeev & Teresa C. Fort & Felix Tintelnot, 2022. "Global Sourcing and Multinational Activity: A Unified Approach," Working Papers 22-36, Center for Economic Studies, U.S. Census Bureau.
    8. Deseatnicov, Ivan & Klochko, Olga, 2023. "Currency risk and the dynamics of German investors entry and exit in Russia," Emerging Markets Review, Elsevier, vol. 55(C).
    9. Ziran Ding, 2022. "Firm heterogeneity, variable markups, and multinational production: A review from trade policy perspective," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1311-1357, December.
    10. James Tybout & David Jinkins & Daniel Yi Xu & Jonathan Eaton, 2016. "Two-sided Search in International Markets," 2016 Meeting Papers 973, Society for Economic Dynamics.
    11. Anderson, James E. & Larch, Mario & Yotov, Yoto V., 2019. "Trade and investment in the global economy: A multi-country dynamic analysis," European Economic Review, Elsevier, vol. 120(C).
    12. Colin Davis & Ken-ichi Hashimoto, 2019. "Innovation Offshoring with Fully Endogenous Growth," ISER Discussion Paper 1055, Institute of Social and Economic Research, Osaka University.
    13. Luo, Changyuan & Si, Chunxiao & Zhang, Hongyong, 2022. "Moving out of China? Evidence from Japanese multinational firms," Economic Modelling, Elsevier, vol. 110(C).
    14. Ivan DESEATNICOV & FUJII Daisuke & Konstantin KUCHERYAVYY & SAITO Yukiko, 2020. "Why Do Japanese MNEs Enter and Exit Foreign Markets?," Discussion papers 20055, Research Institute of Economy, Trade and Industry (RIETI).
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    More about this item

    Keywords

    international trade; exporters; multinational firm; markov process; sunk cost; proximity-concentration tradeoff; trade liberalization;
    All these keywords.

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F02 - International Economics - - General - - - International Economic Order and Integration

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