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Does Openness to Trade Affect Totla Factor Productivity Growth : Evidence from 45 Japanese Manufacturing Industries

황인상|Eric C. Wang
경제연구소 (Hanyang Economic Research Institute)|2004.11|Journal of Economic Research (JER)|제9권 제2호|pp. 147-173

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참고문헌

주제분류경제학

초록

Abstract

This study examines the effects of openness to trade on total factor productivity (TFP) growth using data from 45 Japanese manufacturing industries. The extreme bound analysis (EBA) test was employed to perform a sensitivity analysis. The EBA test results of Japanese manufacturing sectors did not comply with the hypothesis of ‘virtuous cycle of trade and growth.’ First, the growth rate in real gross output showed robust effects on TFP change. The effect of changes in R&D stock on TFP growth was very minimal and limited. Second, regarding the variables of openness to trade, a positive and robust effect on TFP growth was found from a few sub-manufactures. In addition, a small number of negative and robust effects on TFP growth were found. Most of the manufacturing industries did not have any robust relationship between variables of openness to trade and TFP growth. Given our findings that trade expansion has an insignificant and ambiguous effect on TFP, a scale effect of output growth may have governed the growth of Japanese manufacturing industries for the period of 1973-1998.

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