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From Firm-level Imports to Aggregate Productivity: Evidence from Korean Manufacturing Firms Data

JaeBin Ahn () and Moon Jung Choi ()
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JaeBin Ahn: Research Department, International Monetary Fund
Moon Jung Choi: Economic Research Institute, Bank of Korea

No 2016-6, Working Papers from Economic Research Institute, Bank of Korea

Abstract: Using the Korean manufacturing firm-level data, this paper confirms that three stylized facts on importing hold in Korea: the ratio of imported inputs in total inputs tends to be pro-cyclical; the use of imported inputs increases productivity; and larger firms are more likely to use imported inputs. As a result, we find that firm-level import decisions explain a non-trivial fraction of aggregate productivity fluctuations in Korea over the period between 2006 and 2012. Main findings of this paper suggest a possible link between the recent global productivity slowdown and the global trade slowdown.

Keywords: Firm-level imports; Productivity pro-cyclicality; Aggregate TFP of manufacturing sector (search for similar items in EconPapers)
JEL-codes: E3 F1 F4 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-eff, nep-int and nep-mac
Date: 2016-04-28
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