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International Competition and Small-Firm Exit in US Manufacturing

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  • Robert M Feinberg

    (Department of Economics, American University, Washington, DC 20016-8029, USA.)

Abstract

This study analyzes both the determinants of small firm exit rates in US manufacturing over the 1989–2004 period, especially the reaction of domestic firms to the nature of foreign competition as measured by industry-specific real exchange rate movements (interacted with import penetration by industry). These international pressures seem to lead to increased rates of smallest-firm exit in manufacturing, though the magnitudes of these effects are smaller than sometimes discussed. However, high-tech industries avoid much of this impact; patents and a reputation for innovation may shield a small firm somewhat from lower-priced foreign competitors.

Suggested Citation

  • Robert M Feinberg, 2013. "International Competition and Small-Firm Exit in US Manufacturing," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 39(3), pages 402-414.
    • Handle: RePEc:pal:easeco:v:39:y:2013:i:3:p:402-414
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    Cited by:

    1. Robert M. Feinberg & Thomas A. Husted & Florian Szücs, 2015. "Does State Antitrust Enforcement Drive Establishment Exit?," Journal of Competition Law and Economics, Oxford University Press, vol. 11(1), pages 85-106.
    2. Robert Feinberg, 2010. "Do international shocks affect small wholesalers and retailers?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 146(2), pages 323-338, June.

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