Technological Characteristics of Industries and the Competitiveness of the U.S. and its Multinational Firms
The share of U.S. multinational firms in world exports of manufactures has remained almost constant at about 17 per cent for the last 20 years while that of the U.S. as a country has declined substantially. The composition of world manufactured exports shifted toward high-technology or R&D-intensive products during these years and away from low-technology products. The comparative advantage of the U.S., and even more that of U.S. multinationals, were in high-tech products throughout the period, as was that of Japan. However, the U.S. and its multinationals shifted even further toward such products during the period than did the world as a whole, and the Asian NIC's exports moved still faster in this direction. With respect to short-run fluctuations, we find that the export shares of U.S. multinationals have been less sensitive to exchange rate fluctuations than those of the U.S. And shares in high-tech exports have been less sensitive than those in low-tech exports. High R&D intensity was a factor raising the competitiveness of U.S. industries and particularly that of U.S. multinationals in those industries. High advertising intensity raised the competitiveness of U.S multinationals but not usually that of their industries. Higher growth in R&D-intensity also led to increase in multinationals' shares of world exports between 1977 and 1982.
|Date of creation:||Apr 1989|
|Date of revision:|
|Publication status:||published as "Sources of Competitiveness of the U.S. and its Multinational Firms." The Review of Economics and Statistics, Vol. LXXIV, No. 2 (May 1992).|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Irving B. Kravis & Robert E. Lipsey, 1980.
"The Location of Overseas Production and Production for Export by U.S. Multinational Firms,"
NBER Working Papers
0482, National Bureau of Economic Research, Inc.
- Kravis, Irving B. & Lipsey, Robert E., 1982. "The location of overseas production and production for export by U.S. multinational firms," Journal of International Economics, Elsevier, vol. 12(3-4), pages 201-223, May.
- Robert E. Lipsey, 1987.
"Changing Patterns of International Investment In and By the United States,"
NBER Working Papers
2240, National Bureau of Economic Research, Inc.
- Robert E. Lipsey & Mario Schimberni & Robert V. Lindsay, 1988. "Changing Patterns of International Investment in and by the United States," NBER Chapters, in: The United States in the World Economy, pages 475-558 National Bureau of Economic Research, Inc.
- Robert E. Lipsey & Irving B. Kravis, 1985. "The Competitive Position of U.S. Manufacturing Firms," NBER Working Papers 1557, National Bureau of Economic Research, Inc.
- Magnus Blomstrom & Irving B. Kravis & Robert E. Lipsey, 1988. "Multinational Firms and Manufactured Exports from Developing Countries," NBER Working Papers 2493, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:2933. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.