Does Import Competition Induce R&D Reallocation? Evidence from the U.S.

Released on by Rui Xu
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  • Does Import Competition Induce R&D Reallocation? Evidence from the U.S. Book Detail

  • Author : Rui Xu
  • Release Date : 2017-11-16
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 44
  • ISBN 13 : 1484326008
  • File Size : 93,93 MB
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Does Import Competition Induce R&D Reallocation? Evidence from the U.S. by Rui Xu PDF Summary

Book Description: We analyze the impact of rising import competition from China on U.S. innovative activities. Using Compustat data, we find that import competition induces R&D expenditures to be reallocated towards more productive and more profitable firms within each industry. Such reallocation effect has the potential to offset the average drop in firm-level R&D identified in the previous literature. Indeed, our quantitative analysis shows no adverse impact of import competition on aggregate R&D expenditures. Taking the analysis beyond manufacturing, we find that import competition has led to reallocation of researchers towards booming service industries, including business and repairs, personal services, and financial services.

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