Agglomeration Economies in Korean Export Activities
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초록
This paper examines the hypothesis that information on foreign markets plays a key role in lowering sunk entry costs associated with exporting but as a club good, i.e., it is shared among nearby firms only. According to the empirical results based on a continuous hazard model using individual establishment-level data in the Korean manufacturing sector, as the number of exporters in a given area-industry increases by its one standard deviation (11.47), the likelihood for a local firm in the same area-industry to start exporting in the following year rises by 19.68%. In addition, this probability is affected by the duration from being established to starting to export. As the local firm remains as a non-exporter for one more year, the possibility to start exporting in the next year falls by 4.6%. The additional results under the assumption of Weibull distribution and from discrete hazard models appear very similar.
Abstract
This paper examines the hypothesis that information on foreign markets plays a key role in lowering sunk entry costs associated with exporting but as a club good, i.e., it is shared among nearby firms only. According to the empirical results based on a continuous hazard model using individual establishment-level data in the Korean manufacturing sector, as the number of exporters in a given area-industry increases by its one standard deviation (11.47), the likelihood for a local firm in the same area-industry to start exporting in the following year rises by 19.68%. In addition, this probability is affected by the duration from being established to starting to export. As the local firm remains as a non-exporter for one more year, the possibility to start exporting in the next year falls by 4.6%. The additional results under the assumption of Weibull distribution and from discrete hazard models appear very similar.
참고문헌 (25)
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