Business dynamics
Results
All (5)
All (5) ((5 results))
- Articles and reports: 11-010-X201000711321Geography: CanadaDescription:
Inventory changes dominated the business cycle in the 1960s and 1970s. However, inventories have played little role in the last three recessions, thanks to tighter control of stocks.
Release date: 2010-07-15 - 2. Export Market Dynamics and Plant-level Productivity: Impact of Tariff Reductions and Exchange Rate Cycles ArchivedArticles and reports: 11F0027M2010063Geography: CanadaDescription:
This paper examines how trade liberalization and fluctuations in real exchange rates affect export-market entry/exit and plant-level productivity. It uses the experience of Canadian manufacturing plants over three separate periods that featuring different rates of bilateral tariff reduction and differing movements in bilateral real exchange rates. The patterns of entry and exit responses as well as the productivity outcomes differ markedly in the three periods. Consistent with much of the recent literature, the paper finds that plants self-select into export markets-that is, more efficient plants are more likely to enter and less likely to exit export markets. The reverse also occurs: entrants to export markets improve their productivity performance relative to the population from which they originated and plants that stay in export markets do better than comparable plants that exited, lending support to the thesis that exporting boosts productivity. Finally, we find that overall market access conditions, including real exchange rate trends, significantly affect the extent of productivity gains to be derived from participating in export markets. In particular, the increase in the value of the Canadian dollar during the post-2002 period almost completely offset the productivity growth advantages that new export-market participants would otherwise have enjoyed.
Release date: 2010-06-25 - Articles and reports: 11F0027M2010061Geography: CanadaDescription:
We examine the simultaneous effects of real-exchange-rate movements and of tariff reductions on plant death in Canadian manufacturing industries between 1979 and 1996. We find that both currency appreciation and tariff cuts increase the probability of plant death, but that tariff reductions have a much greater effect. Consistent with the implications of recent international-trade models involving heterogeneous firms, we further find that the effect of exchange-rate movements and tariff cuts on exit are heterogeneous across plants - particularly pronounced among least efficient plants. Our results reveal multi-dimensional heterogeneity that current models featuring one-dimensional heterogeneity (efficiency differences among plants) cannot fully explain. There are significant and substantial differences between exporters and non-exporters, and between domestic- and foreign- controlled plants. Exporters and foreign-owned plants have much lower failure rates; however, their survival is more sensitive to changes in tariffs and real exchange rates, whether differences in their efficiency levels are controlled or not.
Release date: 2010-04-14 - 4. Plant Size, Nationality, and Ownership Change ArchivedArticles and reports: 11F0027M2010060Geography: CanadaDescription:
This paper asks whether synergies or managerial discipline operates in different ways across small versus large plants to affect the likelihood of mergers. Our findings indicate that those characteristics which provide the type of synergies upon which ownership changes rely are important factors leading to plant-ownership changes across most size classes. The magnitudes, however, are different across plant-size classes, with synergies generally being more important in larger plants.
Foreign plants in all size classes are more likely to be taken over. The effective rates of control change differ much more in the small than in the larger size classes. Compared to domestic plants, multinational plants in the smaller size classes contain relatively more of the type of intangible capital that makes them attractive vehicles for the transmission of new knowledge via takeover.
Release date: 2010-02-25 - Articles and reports: 21-006-X2008003Geography: CanadaDescription:
Using Statistics Canada's Business Register, this paper investigates the pattern of business establishments in each of the different census metropolitan and census agglomeration influenced zones across rural Canada.
Release date: 2010-01-06
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Analysis (5)
Analysis (5) ((5 results))
- Articles and reports: 11-010-X201000711321Geography: CanadaDescription:
Inventory changes dominated the business cycle in the 1960s and 1970s. However, inventories have played little role in the last three recessions, thanks to tighter control of stocks.
Release date: 2010-07-15 - 2. Export Market Dynamics and Plant-level Productivity: Impact of Tariff Reductions and Exchange Rate Cycles ArchivedArticles and reports: 11F0027M2010063Geography: CanadaDescription:
This paper examines how trade liberalization and fluctuations in real exchange rates affect export-market entry/exit and plant-level productivity. It uses the experience of Canadian manufacturing plants over three separate periods that featuring different rates of bilateral tariff reduction and differing movements in bilateral real exchange rates. The patterns of entry and exit responses as well as the productivity outcomes differ markedly in the three periods. Consistent with much of the recent literature, the paper finds that plants self-select into export markets-that is, more efficient plants are more likely to enter and less likely to exit export markets. The reverse also occurs: entrants to export markets improve their productivity performance relative to the population from which they originated and plants that stay in export markets do better than comparable plants that exited, lending support to the thesis that exporting boosts productivity. Finally, we find that overall market access conditions, including real exchange rate trends, significantly affect the extent of productivity gains to be derived from participating in export markets. In particular, the increase in the value of the Canadian dollar during the post-2002 period almost completely offset the productivity growth advantages that new export-market participants would otherwise have enjoyed.
Release date: 2010-06-25 - Articles and reports: 11F0027M2010061Geography: CanadaDescription:
We examine the simultaneous effects of real-exchange-rate movements and of tariff reductions on plant death in Canadian manufacturing industries between 1979 and 1996. We find that both currency appreciation and tariff cuts increase the probability of plant death, but that tariff reductions have a much greater effect. Consistent with the implications of recent international-trade models involving heterogeneous firms, we further find that the effect of exchange-rate movements and tariff cuts on exit are heterogeneous across plants - particularly pronounced among least efficient plants. Our results reveal multi-dimensional heterogeneity that current models featuring one-dimensional heterogeneity (efficiency differences among plants) cannot fully explain. There are significant and substantial differences between exporters and non-exporters, and between domestic- and foreign- controlled plants. Exporters and foreign-owned plants have much lower failure rates; however, their survival is more sensitive to changes in tariffs and real exchange rates, whether differences in their efficiency levels are controlled or not.
Release date: 2010-04-14 - 4. Plant Size, Nationality, and Ownership Change ArchivedArticles and reports: 11F0027M2010060Geography: CanadaDescription:
This paper asks whether synergies or managerial discipline operates in different ways across small versus large plants to affect the likelihood of mergers. Our findings indicate that those characteristics which provide the type of synergies upon which ownership changes rely are important factors leading to plant-ownership changes across most size classes. The magnitudes, however, are different across plant-size classes, with synergies generally being more important in larger plants.
Foreign plants in all size classes are more likely to be taken over. The effective rates of control change differ much more in the small than in the larger size classes. Compared to domestic plants, multinational plants in the smaller size classes contain relatively more of the type of intangible capital that makes them attractive vehicles for the transmission of new knowledge via takeover.
Release date: 2010-02-25 - Articles and reports: 21-006-X2008003Geography: CanadaDescription:
Using Statistics Canada's Business Register, this paper investigates the pattern of business establishments in each of the different census metropolitan and census agglomeration influenced zones across rural Canada.
Release date: 2010-01-06
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