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Innovation and Export Volumes and Prices: A Disaggregated Study

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Author Info
Greenhalgh, Christine Anne
Taylor, Paul

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Abstract

The paper explores the role of innovation in the determination of both net exports and export prices. The analysis is conducted for 36 industry groups covering both manufacturers and services in the UK. The data are annual time series and these are analysed using the techniques of cointegration to establish the existence of significant time-series relationships between innovation and trade performance. Alternative econometric estimates of these relationships were obtained for 24 manufacturing industries using patents as the indicator of scientific advance and rising product quality in place of innovations. Patents provide a measure of relative technological performance of the United Kingdom, but for a smaller range of economic activities. The empirical findings support the view that successful R&D (which can raise product quality or reduce production costs) and good industrial relations (which improve a reliability of supply) have quantitatively significant impacts on the balance of trade in a variety of industries and services. Our findings also raise concern over issues of measurement quality for the monitoring of both input to and outputs from the R&D production process, which is critical for designing policy to improve performance.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 487.

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Date of creation: Dec 1990
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Handle: RePEc:cpr:ceprdp:487

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Related research
Keywords: Industrial Innovation; Trade Performance;

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  1. Wendy Carlin & Andrew Glyn & John Van Reenen, 1999. "Export Market Performance of OECD countries: an empirical examination of the role of cost competitiveness," IFS Working Papers W99/22, Institute for Fiscal Studies. [Downloadable!]
    Other versions:
  2. Miguel León-Ledesma, 2000. "R&D Spillovers and Export Performance: Evidence from the OECD Countries," Studies in Economics 0014, Department of Economics, University of Kent. [Downloadable!]
  3. Sourafel Girma & Holger Görg & Aoife Hanley, 2008. "R&D and Exporting: A Comparison of British and Irish Firms," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 144(4), pages 750-773, December. [Downloadable!] (restricted)
    Other versions:
  4. Helene Erkel-Rousse & Daniel Mirza, 2000. "Import Price-Elastcities: Reconsidering the Evidence," Econometric Society World Congress 2000 Contributed Papers 0909, Econometric Society. [Downloadable!]
    Other versions:
  5. Ralf Ruhwedel & Michael Funke, 2000. "Export Variety and Export Performance: Empirical Evidence from East Asia," Quantitative Macroeconomics Working Papers 20006, Hamburg University, Department of Economics. [Downloadable!]
    Other versions:
  6. Vladimir Benacek & Jiri Podpiera & Ladislav Prokop, 2005. "Determining Factors of Czech Foreign Trade: A Cross-Section Time Series Perspective," Working Papers 2005/03, Czech National Bank, Research Department. [Downloadable!]
  7. Stefan Lachenmaier & Ludger Woessmann, 2004. "Does Innovation Cause Exports? Evidence from Exogenous Innovation Impulses and Obstacles," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  8. Miguel León-Ledesma, 2005. "Exports, Product Differentiation and Knowledge Spillovers," Open Economies Review, Springer, vol. 16(4), pages 363-379, October. [Downloadable!] (restricted)
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  9. Stefan Lachenmaier; Ludger Woessmann, 2004. "Does Innovation Cause Exports? Evidence from Exogenous Innovation Impulses and Obstacles Using German Micro Data," Econometric Society 2004 Australasian Meetings 200, Econometric Society. [Downloadable!]
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  10. Roper, S. & Love, J.E., 2001. "Innovation and Export Performance: Evidence from UK and German Manufacturing Plants," Working Papers NIERC. 62, Economic Research Institute of Northern Ireland. [Downloadable!]
  11. Xiaohui Liu & Chang Shu, 2001. "Determinants of Export Performance: Evidence from Chinese Industries," Macroeconomics Working Papers 213, East Asian Bureau of Economic Research. [Downloadable!]
  12. Jakob B. Madsen, 2004. "Technological Revolutions, Innovations, and Trade Performance," EPRU Working Paper Series 04-12, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics. [Downloadable!]
  13. Nguyen, Ngoc Anh & Pham, Quang Ngoc & Nguyen, Dinh Chuc & Nguyen, Duc Nhat, 2007. "Innovation and Export of Vietnam’s SME Sector," MPRA Paper 3256, University Library of Munich, Germany. [Downloadable!]
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  14. Prabuddha Sanyal, 2004. "The role of innovation and opportunity in bilateral OECD trade performance," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 140(4), pages 634-664, December. [Downloadable!] (restricted)
  15. Xiaohui Liu & Chang Shu, 2003. "Determinants of Export Performance: Evidence from Chinese Industries," Economic Change and Restructuring, Springer, vol. 36(1), pages 45-67, March. [Downloadable!] (restricted)
  16. Gu, Weishi & Awokuse, Titus O. & Yuan, Yan, 2008. "The Contribution of Foreign Direct Investment to China's Export Performance: Evidence from Disaggregated Sectors," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6453, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  17. Alka Chadha, 2005. "Product cycles, innovation and exports: A study of Indian pharmaceuticals," Departmental Working Papers wp0511, National University of Singapore, Department of Economics. [Downloadable!]
  18. Michael Funke & Ralf Ruhwedel, 2002. "Export variety and export performance: Empirical evidence for the OECD countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 138(1), pages 97-114, March. [Downloadable!] (restricted)
  19. Antoine Magnier & Joël Toujas-Bernate, 1994. "Technology and trade: Empirical evidences for the major five industrialized countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 130(3), pages 494-520, September. [Downloadable!] (restricted)
  20. Keld Laursen & Valentina Meliciani, 2000. "The importance of technology-based intersectoral linkages for market share dynamics," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 136(4), pages 702-723, December. [Downloadable!] (restricted)
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