百年中大·创新创业与经济高质量发展大讲坛第6期暨前沿学术讲座第18期预告 | 主讲人：张红松

　　

　　

　　讲座主题

　　Returns to Scale, Productivity, and Markup: Revisit the Export Premium

　　

　　讲座嘉宾

　　张红松

　　

　　讲座时间

　　2024年6月28日（周五）10:00-11:30

　　

　　讲座地点

　　中山大学（深圳校区）文学园1栋202会议室

　　

　　

　　讲座嘉宾介绍

　　张红松，宾夕法尼亚州立大学经济学博士，香港大学商学院经济学副教授。担任香港大学中国经济研究所副主任以及香港大学商学院深圳研究院经济战略中心副主任。研究兴趣涵盖实证产业组织、国际贸易和应用微观经济学等主题，特别关注企业在生产力、供应商网络和需求方面的竞争力如何影响企业在国内和国际市场的绩效。其研究成果发表在RAND Journal of Economics、Economic Journal、Review of Economics and Statistics、International Economic Review、European Economic Review 和Journal of Development Economics 等经济学领域的领先期刊。目前还担任经济学国际权威期刊International Journal of Industrial Organization 的副主编。

　　

　　

　　讲座摘要

　　The productivity effect of exports has been the foundation for many trade-related policies. However, empirical studies usually find a mixed effect of exports on productivity. We show that increasing returns to scale and markup are two important sources of gains from exports, in addition to the productivity effect. Because output prices are typically unavailable in most microdata sets, we develop a new method to consistently estimate firm-level markup, productivity, and returns to scale jointly, using widely available revenue and input expenditure. We find that exports have substantial efficiency gains, half of which are contributed by increasing returns to scale and the other half by an export productivity premium. The improved efficiency allows exporters to charge a higher markup but at a lower price. Taken together, exports increase the firm's profits by about a quarter in the Chinese manufacturing industry; they also benefit consumers by reducing prices. Increasing returns to scale also provides an explanation for why TFPR may fail to capture the export premium.