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ID:
186225
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| Summary/Abstract |
Using Chinese microdata from 2000 to 2013, we document how demand shocks in export markets lead multi-product exporters to adjust markups across products. We find that, in response to positive demand shocks, quality-based competitive multi-product firms increase product markups significantly, particularly for core products, whereas cost-based competitive multi-product firms respond by reducing product markups. The reason for this is that positive foreign demand affects markups through two opposite channels: pro-innovative effects and pro-competitive effects. Pro-innovative effects are predominant among quality-based competitive multi-product firms, and these firms respond to positive foreign demand shocks by increasing product quality, prices, and markups. Pro-competitive effects are predominant among cost-based competitive multi-product firms, and these firms respond to positive foreign demand shocks by lowering product cost, prices, and markups. We demonstrate the presence of these mechanisms empirically. The results imply that firms with different competition strategies should adopt different measures in response to foreign demand shocks.
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| 2 |
ID:
161869
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| Summary/Abstract |
Using Chinese customs data covering all exporters over 2000–06, this paper empirically investigates how Chinese multi-product exporters adjust their product scope and product mix to react to U.S. antidumping. The estimation results indicate that surviving exporters experiencing antidumping would reduce their overall export product scope and concentrate on fewer more successful products, although the overall export value does not change. Specifically, they drop many pre-existing peripheral export products and simultaneously introduce new products that are closer to their main industry into the U.S. market. The analysis also finds that the sophistication of surviving exporters' export product mix increases in response to antidumping, and they export more products that have higher upstreamness.
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