Does Import Competition Induce Rd Reallocation Evidence From The Us
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Does Import Competition Induce R&D Reallocation? Evidence from the U.S.
Author | : Rui Xu |
Publisher | : International Monetary Fund |
Total Pages | : 44 |
Release | : 2017-11-16 |
Genre | : Business & Economics |
ISBN | : 148432952X |
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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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