Eine Panel-Analyse des chinesischen Intraindustriellen Handels im Investitionsgütersektor
Yiping Zhu
IWH Discussion Papers,
Nr. 18,
2009
Abstract
Diese Studie verwendet die Methode der Hausman-Taylor-2SLS Fehler-Komponenten zur Schätzung der Determinanten von Chinas Intraindustriellem
Handel (IIT) im Investitionsgütersektor mit seinen 26 Partnerländern. Sie disaggregiert IIT in horizontalen IIT (HIIT) und vertikalen IIT (VIIT). Investitionsgüter, Endprodukte und Halbfertigwaren werden separat geschätzt, um die Unterschiede des Handels zu interpretieren. Es zeigt sich, dass die wirtschaftliche Ähnlichkeit mit IIT-Halbfertigwaren signifikant negativ korreliert ist, aber bei IIT-Endprodukten keine Signifikanz besteht. Der Faktor Ausstattung weist keine Signifikanz bei der Bestimmung von IIT-Halbfertigwaren auf, obwohl er mit IIT-Endprodukten signifikant positiv korreliert ist. Wirtschaftsgröße ist sowohl mit IIT-Endprodukten als auch mit IIT-Halbfertigwaren signifikant negativ korreliert. Entfernung wirkt sich auf das Niveau von IIT-Endprodukten aus, hat aber einen geringeren Einfluss auf IIT-Halbfertigwaren. China hat im Bereich Halbfertigwaren relativ wenig intraindustriellen Handel mit ASEAN-Staaten. Da jedoch VIIT einen dominierenden Einfluss auf TIIT ausübt, bestehen keine bedeutenden Unterschiede zwischen den Schätzungsergebnissen von TIIT und VIIT.
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Organization and Financing of Innovation, and the Choice between Corporate and Independent Venture Capital
Paolo Fulghieri, Merih Sevilir
Journal of Financial and Quantitative Analysis,
Nr. 6,
2009
Abstract
This paper examines the impact of competition on the optimal organization and financing structures in innovation-intensive industries. We show that as an optimal response to competition, firms may choose external organization structures established in collaboration with specialized start-ups where they provide start-up financing from their own resources. As the intensity of the competition to innovate increases, firms move from internal to external organization of projects to increase the speed of product innovation and to obtain a competitive advantage with respect to rival firms in their industry. We also show that as the level of competition increases, firms provide a higher level of financing for externally organized projects in the form of corporate venture capital (CVC). Our results help explain the emergence of organization and financing arrangements such as CVC and strategic alliances, where large established firms organize their projects in collaboration with external specialized firms and provide financing for externally organized projects from their own internal resources.
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Low Skill but High Volatility?
Claudia M. Buch
CESifo Working Paper No. 2665,
2009
Abstract
Globalization may impose a double-burden on low-skilled workers. On the one hand, the relative supply of low-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand, low-skilled workers typically face more limited access to financial markets than high-skilled workers. This limits their ability to smooth shocks to income intertemporally and to share risks across borders. Using cross-country, industry-level data for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill levels has changed over time. We develop a stylized theoretical model that is consistent with the empirical evidence, and we test the predictions of the model. Our results show that greater financial globalization and development increases the volatility of employment, and this effect is strongest for low-skilled workers. A higher share of low-skilled employment has a dampening impact.
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Investment (FDI) Policy for Azerbaijan, Final report
Jutta Günther, Björn Jindra
Einzelveröffentlichungen,
Nr. 4,
2009
Abstract
The report has been prepared on behalf of the Association for Technical Cooperation (GTZ) as integral part of the “Private Sector Development Program” run by the GTZ in Azerbaijan. A comprehensive investment policy is outlined with particular focus on the possibilities to attract foreign direct investment (FDI) in Azerbaijan’s manufacturing industry (non-oil sector). The report makes particular reference to the experiences with investment policy development in Central and East European transition economies. It touches legal and institutional framework conditions in Azerbaijan as well as possible investment incentives schemes including investment promotion. Major recommendations refer to trade integration within the region, introduction of tax incentives as well as further improvements in business climate. Furthermore, the importance of complementary policies, such as competition and education policy, is stressed.
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Industry Concentration and Regional Innovative Performance – Empirical Evidence for Eastern Germany
Christoph Hornych, Michael Schwartz
IWH Discussion Papers,
Nr. 8,
2009
Abstract
Regarding technological innovativeness, the transformed economy of the former German Democratic Republic (GDR) clearly lags behind the Western part of the country. To face this weakness, a broad mixture of policy measures was carried out in recent years. Particular attention is drawn to the development of industry concentrations and economic ‘clusters’. However, little is known about the effectiveness of these policy measures regarding how industry concentrations in fact promote innovative performance in Eastern Germany. The present study tries to fill this gap by analyzing the relationship between industry concentration in Eastern Germany and regional innovative performance. Our empirical analysis is based upon the number of patent applications of 22 manufacturing industries in 22 Eastern German planning regions. The estimated regression models indicate an inverted U-shaped relationship between the degree of industry concentration and innovative performance. An exceedingly high degree of industry concentration in one region hampers regional innovative output. We discuss policy implications of our findings and give recommendations for future refinement of ‘cluster’-supporting policy schemes in Eastern Germany.
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Exploring technological change in the German pharmaceutical industry. Dissertation
Iciar Dominguez Lacasa
Einzelveröffentlichungen,
Nr. 2,
2006
Abstract
In simple words the pharmaceutical industry links activities and business accomplishing the discovery, development, production and commercialisation of drugs (i. e. products with therapeutic properties). Accordingly, product innovation is based on the search and development of molecules that may have desirable therapeutic effects. Basically new drugs can be developed either with the application of organic chemical synthesis or from the separation of compounds produced by natural microorganisms, which as an application of biotechnology.
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Why Do Payday Lenders Enter Local Markets? Evidence from Oregon
H. Evren Damar
Review of Industrial Organization,
Nr. 2,
2009
Abstract
This study analyzes payday lenders’ entry strategies in the state of Oregon in order to look for changes in the nature of the industry and its relationship to traditional financial institutions. The results of fixed-effects logit regressions suggest that payday lenders have started to enter areas already being served by banks. Furthermore, the presence of “incumbent advantage” in entry decisions may also have implications concerning the level of competition in the industry. Finally, since payday lenders also enter areas with large Hispanic populations, it is still possible that payday loans represent the sole source of credit for certain segments of the population.
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Auf gute Nachbarschaft? Zentreninterne Netzwerkstrukturen und Determinanten von Wissenschaftskooperationen in deutschen Technologie- und Gründerzentren
Michael Schwartz, Christoph Hornych
IWH Discussion Papers,
Nr. 2,
2009
Abstract
Der Beitrag untersucht, inwieweit es durch eine Förderung mittels Technologie- und Gründerzentren (TGZ) gelingt, Unternehmen beim Aufbau von Kooperationsbeziehungen zu unterstützen. Im Rahmen einer Querschnittsuntersuchung wird sowohl die Vernetzung der Unternehmen innerhalb der Zentren als auch die Initiierung von Kontakten zu Wissenschafts- und Forschungseinrichtungen untersucht. Erstmalig wird dabei den vermuteten Unterschieden zwischen spezialisierten und diversifizierten Zentrenkonzepten nachgegangen. Entgegen der vorherrschenden Meinung in der Literatur zeigen die empirischen Ergebnisse, dass sich bei Mietern in spezialisierten TGZ, trotz größerer Überschneidungen, keine intensiveren Netzwerkbeziehungen entwickeln als in diversifizierten Zentren. Signifikante Vorteile einer Spezialisierung von TGZ können hingegen bei der Wissenschaftsanbindung der Mieterunternehmen nachgewiesen werden, wobei nur jedes zweite Unternehmen in diversifizierten TGZ Kontakte mit Wissenschafts- und Forschungseinrichtungen unterhält.
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Is There a Way for Old Industrial Districts to Become Attractive for Cultural Industry? The Case of Media Businesses in Halle (Saale), Germany
Martin T. W. Rosenfeld, Christoph Hornych
IWH Discussion Papers,
Nr. 15,
2008
Abstract
manufacturing have collapsed are trying to stimulate entrepreneurial activities of businesses in the cultural industry. The question is whether this strategy could be successful. This article examines the strategy of supporting the sector of Media Industry (´MI´) by policy makers in the region of Halle in East Germany, where a strong de-industrialization has taken place after the German reunification. Stimulated by the policy makers’ support measures, there actually was a remarkable development of MI. However, the number of MI firms and their employees did not further increase in recent years, after having reached a certain level. This illustrates the limits of political measures for turning a city’s path of industrial development voluntarily.
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