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  • 标题:Export-market dynamics and the probability of firm closure: evidence for the UK
  • 本地全文:下载
  • 作者:Richard I.D. Harris ; Qian Cher Li
  • 期刊名称:Departmental Discussion Papers / University of Glasgow, Department of Economics
  • 出版年度:2008
  • 卷号:1
  • 出版社:University of Glasgow, Department of Economics
  • 摘要:This study presents the first empirical analysis of the determinants of firm closure in the UK with an emphasis on the role of export-market dynamics, using panel data for a nationally representative group of firms operating in all-market based sectors during 1997-2003. Our findings show that the probability of closure is (cet. par.) significantly lower for exporters, particularly those experiencing export-market entry and exit. Having controlled for other attributes associated with productivity (such as size and export status), the following factors are found to increase the firm’s survival prospects: higher capital intensity and TFP, foreign ownership, young age, displacement effects (through relatively high rates of entry of firms in each industry), and belonging to certain industries. Interestingly, increased import penetration (a proxy for lower trade costs) leads to a lower hazard rate for exporting entrants and continuous exporters, whilst inducing a higher hazard rate for domestic producers or those that quit exporting.
  • 关键词:firm closure; exporting; market dynamics; hazard rates
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