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WTO Accession and Performance of Chinese Manufacturing Firms

The American economic review, 2017-09, Vol.107 (9), p.2784-2820 [Peer Reviewed Journal]

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Title:
WTO Accession and Performance of Chinese Manufacturing Firms
Author: Brandt, Loren ; Van Biesebroeck, Johannes ; Wang, Luhang ; Zhang, Yifan
Subjects: Accession ; Economic models ; Manufacturing ; Productivity ; Tariffs ; Trade liberalization
Is Part Of: The American economic review, 2017-09, Vol.107 (9), p.2784-2820
Description: We examine the effects of trade liberalization in China on the evolution of markups and productivity of manufacturing firms. Although these dimensions of performance cannot be separately identified when firm output is measured by revenue, detailed price deflators make it possible to estimate the average effect of tariff reductions on both. Several novel findings emerge. First, cuts in output tariffs reduce markups, but raise productivity. Second, pro-competitive effects are most important among incumbents, while efficiency gains dominate for new entrants. Third, cuts in input tariffs raise both markups and productivity. We highlight mechanisms that explain these findings in the Chinese context.
Publisher: Nashville: American Economic Association
Language: English
Identifier: ISSN: 0002-8282
EISSN: 1944-7981
DOI: 10.1257/aer.20121266
Source: ProQuest Central

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