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Imported Machinery for Export Competitiveness

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Author Info

  • Ashoka Mody
  • Kamil Yilmaz

Abstract

This article analyzes the relationship between export competitiveness and investment in machinery, allowing for imperfect substitution between domestically produced and imported machinery. A translog export price function is estimated for developed, exportoriented developing, and import-substituting developing economies in a panel data setting. Between 1967 and 1990 imported machinery helped lower export prices for export-oriented developing economies. Moreover, throughout the period imported machinery was not a substitute for domestic machinery. Import-substituting developing economies were unable to harness imported machinery to reduce costs early in the period, but from about the early 1980s, with the opening of their trade regimes, they were able to benefit from the cost-reducing effect. The results imply that innovative effort based on imported technologies can be a precursor to the development of domestic innovation capabilities. Copyright 2002, Oxford University Press.

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Bibliographic Info

Article provided by World Bank Group in its journal The World Bank Economic Review.

Volume (Year): 16 (2002)
Issue (Month): 1 (June)
Pages: 23-48

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Handle: RePEc:oup:wbecrv:v:16:y:2002:i:1:p:23-48

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Cited by:
  1. Kalin Hristov & Martin Zaimov, 2003. "Shadowing the euro: Bulgaria’s monetary policy five years on," BIS Papers chapters, in: Bank for International Settlements (ed.), Regional currency areas and the use of foreign currencies, volume 17, pages 61-78 Bank for International Settlements.
  2. Sule Ozler & Erol Taymaz & Kamil Yilmaz, 2007. "History Matters for the Export Decision Plant Level Evidence from Turkish Manufacturing Industry," ERC Working Papers 0704, ERC - Economic Research Center, Middle East Technical University, revised Mar 2007.
  3. Landon, Stuart & Smith, Constance E., 2007. "The exchange rate and machinery and equipment imports: Identifying the impact of import source and export destination country currency valuation changes," The North American Journal of Economics and Finance, Elsevier, vol. 18(1), pages 3-21, February.
  4. Kodama, Masahiro, 2013. "Growth-cycle nexus," IDE Discussion Papers 387, Institute of Developing Economies, Japan External Trade Organization(JETRO).
  5. Landon, Stuart & Smith, Constance, 2007. "Investment and the exchange rate: Short run and long run aggregate and sector-level estimates," MPRA Paper 9958, University Library of Munich, Germany.
  6. Landon, Stuart & Smith, Constance E., 2006. "Exchange rates and investment good prices: A cross-industry comparison," Journal of International Money and Finance, Elsevier, vol. 25(2), pages 237-256, March.
  7. Herrerias, M.J. & Orts, Vicente, 2013. "Capital goods imports and long-run growth: Is the Chinese experience relevant to developing countries?," Journal of Policy Modeling, Elsevier, vol. 35(5), pages 781-797.
  8. DiPietro, William R. & Anoruo, Emmanuel, 2006. "Creativity, innovation, and export performance," Journal of Policy Modeling, Elsevier, vol. 28(2), pages 133-139, February.
  9. Navaretti, Giorgio Barba & Galeotti, Marzio & Mattozzi, Andrea, 2004. "Moving skills from hands to heads: does importing technology affect export performance in textiles?," Research Policy, Elsevier, vol. 33(6-7), pages 879-895, September.
  10. MASWANA, Jean-Claude & FAROOKI, Masuma, 2013. "African Economic Growth Prospects: A Resource Curse Perspective," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 13(2), pages 169-182.
  11. Mahadevan, Renuka & Suardi, Sandy, 2008. "A dynamic analysis of the impact of uncertainty on import- and/or export-led growth: The experience of Japan and the Asian Tigers," Japan and the World Economy, Elsevier, vol. 20(2), pages 155-174, March.
  12. Jui-Kuei Chen & I.-Shuo Chen, 2012. "Critical creativity criteria for students in higher education: taking the interrelationship effect among dimensions into account," Quality & Quantity: International Journal of Methodology, Springer, vol. 46(4), pages 1057-1075, June.

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