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[10月12日] 国际经济学Workshop

发布日期:2021-10-11 09:44    来源:

Multinationals and Structural Transformation


时间:20211012日(周二)10:00-11:30 am


主讲人:Chen cheng, Clemson University



会议号:926 3889 7210


摘要:We study the role of multinationals (MNCs) in driving structural transformation. We begin by developing a stylized two country two sector general equilibrium model with multinational production and trade. We show analytically that a decrease in FDI costs leads to an increase in the manufacturing employment share of the host country and a decrease in the source country, consistent with structural transformation. We test the model’s firm-level predictions by using confidential microdata to study the response of Japanese MNC parents and affiliates to an exogenous change in China’s openness to FDI. We find that Japanese MNC’s China affiliates in industries where inward FDI was exogenously encouraged experienced increases in manufacturing employment. We also find that MNC parents in industries where inward FDI was encouraged experienced larger losses in home country manufacturing employment and increases in home country services and R&D employment. Finally, we expand our confidential microdata to cover several high and middle-income countries and implement an accounting decomposition separating the change in overall manufacturing employment shares into MNC and non-MNC components. We find a significant role for MNCs across all countries, suggesting the mechanism we highlight is an important driver of structural transformation.

主讲人简介: Cheng Chen currently works as an Assistant Professor of Clemson University. His research is in international trade and investment, organizational economics, and firm dynamics. Now, he is particularly interested in import competition and multinational firms, firm management and organization, and uncertainty and information.


“Information, Incentives and Multinational Firms,” Journal of International Economics, 2011 vol. 85(1): 147-158.

“Management Quality and Firm Organization in Industry Equilibrium,” American Economic Journal: Microeconomics 2017 vol. 9(4): 203-244.

“Import Competition, Agency Problem and Aggregate Productivity: Theory and Evidence,” European Economic Review 2019 vol. 111: 421-442.

“The Comparative Statics of Optimal Hierarchies” with Wing Suen, American Economic Journal: Microeconomics 2019 vol. 11(2): 1-25 (lead article).

“Outward FDI and Domestic Input Distortions: Evidence from Chinese Firms” with Miaojie Yu and Wei Tian, Economic Journal 2019 vol. 129(624): 3025–3057.

“Measuring Business-Level Expectations and Uncertainty: Survey Evidence and the COVID-19 Pandemic” with Tatsuro Senga, and Hongyong Zhang, Japanese Economic Review 72: 509-532 (special issue on Covid-19)

“Import Competition, Heterogeneous Preferences of Managers and Productivity” with Claudia Steinwender forthcoming, Journal of International Economics