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Seminar: Complementarities between trade and innovation efforts in their impact on performance of emerging economy firms
16 Maggio 2019 @ 13:00 - 14:00
On May 16th, 2019, 13.00-14.00 in Sala Consiglio, Prof. Silvia Massini (The University of Manchester) will give a talk on “Complementarities between trade and innovation efforts in their impact on performance of emerging economy firms” (joint with Lucia Piscitello and Yevgeniya Shevtsova ).
You can find some information about Prof. Massini here:
Empirical evidence has widely demonstrated the positive effect of exports on firm performance, especially for emerging economies’ firms. This paper extends this analysis by exploring three-way complementarities among exports, imports and R&D investments, and their implications for firm performance. We advance and test the idea that learning effects of exports are enhanced by the learning effects that emerge from imports and reinforced by internal R&D expenditure of the firm. Indeed, imports of intermediate and capital goods can improve firm performance via several channels: learning, variety and quality. At the same time, an increase in internal R&D expenditure should raise firm’s absorptive capacity and lead to better integration of the knowledge acquired through various external sources, such as export and import linkages. We test our theory using an unbalanced panel of Ukrainian manufacturing firms over the period 2000-06. We find robust empirical support for our hypothesis and show that positive effect of exports on firm performance is higher for firms that simultaneously engage in imports and R&D. The effect is more pronounced for private manufacturing firms that engage in trade with advanced markets.