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Entrepreneurship and aggregate merchandise trade growth in New Zealand

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Author Info
Richard Fabling
Lynda Sanderson (Reserve Bank of New Zealand)

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Abstract

We present a descriptive analysis of firm-level merchandise trade, focussing on the role of entrepreneurial exporting behaviour. We document two aspects of the dynamics of trade – the contribution of novel export activity to aggregate trade growth and, conversely, the substantial exit rates of new trade relationships. The unique contribution of this paper lies in the detailed and comprehensive data we have available on market and product choices. Specifically, we make use of shipment-level goods trade data, linked to information for the universe of economically active New Zealand manufacturers,to examine trade at the firm-level and at the product-country-firm nexus. Our growth decomposition and survival analysis suggest several themes: (a) novel market entry is a significant contributor to aggregate export growth; (b) the study of international entrepreneurial behaviour should encompass not just de novo entrants, but the broad range of trade innovations initiated by incumbent exporters; (c) much expansion in trade appears to be incremental in nature; (d) despite this, such innovations appear to be inherently risky; and (e) experience and scale appear to be key factors in overcoming these risks (or at least proxies for such factors).

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File URL: http://www.rbnz.govt.nz/research/discusspapers/dp09_09.pdf
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Publisher Info
Paper provided by Reserve Bank of New Zealand in its series Reserve Bank of New Zealand Discussion Paper Series with number DP2009/09.

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Length: 23 p
Date of creation: Sep 2009
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Handle: RePEc:nzb:nzbdps:2009/09

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Find related papers by JEL classification:
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
F10 - International Economics - - Trade - - - General
L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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  1. Roberts, Mark J & Tybout, James R, 1997. "The Decision to Export in Colombia: An Empirical Model of Entry with Sunk Costs," American Economic Review, American Economic Association, vol. 87(4), pages 545-64, September. [Downloadable!] (restricted)
  2. Robert C. Feenstra & James R. Markusen & Andrew K. Rose, 2001. "Using the gravity equation to differentiate among alternative theories of trade," Canadian Journal of Economics, Canadian Economics Association, vol. 34(2), pages 430-447, May. [Downloadable!] (restricted)
  3. Vivienne Shaw & Jenny Darroch, 2004. "Barriers to Internationalisation: A Study of Entrepreneurial New Ventures in New Zealand," Journal of International Entrepreneurship, Springer, vol. 2(4), pages 327-343, December. [Downloadable!] (restricted)
  4. Andrew B. Bernard & J. Bradford Jensen, 2004. "Why Some Firms Export," The Review of Economics and Statistics, MIT Press, vol. 86(2), pages 561-569, 04. [Downloadable!] (restricted)
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This page was last updated on 2009-11-1.

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