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Wiener Institut für
Internationale
Wirtschaftsvergleiche
The Vienna Institute for
International Economic
Studies
www.wiiw.ac.at
FIW-Study
Characteristics of exporting and non-exporting
firms in Austria
Johannes Pöschl – Robert Stehrer – Roman Stöllinger
financed by Federal Ministry of Economy, Family and Youth
FIW Workshop, 06.04.2010
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Content
 Introduction
 Dataset
 Export Participation
 Export Premia
- Descriptive Analysis
- Econometric Results
 Summary
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Stylised facts
 EU27 exports: from 2.21 trillion (1999) to 4.01 trillion (2008)
 NMS12 exports: from 112 billion (1999) to 441 billion (2008)
 Only a fraction of all firms in an industry export (firm heterogeneity)
 Export participation varies substantially across industries
(Bernard, Jensen, Schott – 2005)
 Firms engaged in export activities are larger and more productive
(Eaton, Kortum and Kramarz – 2004)
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Theory: Exporters vs. Non-exporters
Exporters face fixed costs of exporting and additional trading costs
profit
productivity
fixed costs
4
NonExporters
Exporters
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Dataset
 Source: Statistik Austria
 Selected sample: manufacturing industries 2002-2006
 Firm level data from
- Leistungs- und Strukturerhebung
covers most firm characteristics
2006: 28712 firms
- Konjunkturstatistik
gives information about the export status
2006: 6326 firms (93.7% of sales)
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First impressions from the data
 56% of the firms in the sample export in 2006
 Modest rise in export participation from 54% in 2002
 In comparison: Austrias manufacturing exports rose
from 78 billion (2002) to 104 billion (2006)
 Intensive margin more important
- Intensive margin: rise in exports of firms already exporting
- Extensive margin: number of exporters increases
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Export Participation of Austrian firms (2006)
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
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Export Concentration
100
90
87%
80
74%
70
60
percentage of exports 50
42%
40
30
20
10
0
0
10
20
30
40
50
60
70
80
90
100
percentage of firms (ranked by export sales)
1%, 5% and 10% of manufacturing firms account for
42%, 74% and 87% of the exports respectively
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Size comparison – average sales per firm
sales of non-exporters (mn EUR)
sales of exporters (mn EUR)
180
160
140
120
100
80
60
40
20
0
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Size premia of exporters (non-exporters=1)
employment premium
wage sum premium
12.0
10.0
8.0
6.0
4.0
2.0
0.0
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Performance premia – labour productivity
4
3.5
3
2.5
2
1.5
1
0.5
0
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Labour productivity by export intensity
NACE
12
Industry
15 Food and beverages
17 Textiles
18 Wearing apparel
19 Leather
20 Wood
21 Pulp and paper
22 Publishing and printing
24 Chemicals
25 Rubber and plastic products
26 Non-metallic mineral products
27 Basic metals
28 Fabricated metal products
29 Machinery and equipment
30 Office machinery and computers
31 Electrical machinery
32 Radio, TV, communication
33 Precision & optical instruments
34 Motor vehicles
35 Other transport equipment
36 Manufactures n.e.c.
37 Recycling
15-37 Total manufacturing
firms by exports in % of turnover
5-30%
30-50%
232.9
309.7
Non-exporter
68.0
<5%
178.4
76.8
45.9
91.6
86.7
181.3
107.7
178.5
113.4
152.8
159.2
96.8
114.7
77.3
59.1
94.8
87.4
107.7
100.8
175.4
218.3
102.8
139.9
85.5
103.0
103.0
128.2
149.3
149.0
163.9
112.8
161.2
194.1
117.6
129.2
129.3
119.2
57.4
1734.0
111.8
76.0
122.0
129.8
155.7
79.4
157.8
63.2
247.2
91.8
72.2
82.4
129.6
136.6
94.0
92.9
73.5
182.0
181.5
152.9
232.2
154.8
162.3
278.7
140.9
147.5
153.6
151.3
113.6
271.3
164.6
102.1
322.6
165.7
>50%
275.1
136.8
114.4
152.2
223.7
766.2
193.1
1042.0
160.2
147.5
285.0
177.8
183.9
365.4
199.3
194.5
148.9
231.1
293.6
115.7
271.5
244.1
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Labour productivity and capital intensitity
investment intensity
labour productivity
4
3.5
3
2.5
2
1.5
1
0.5
0
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Econometric results – implied export premia
Variable
EXP
Sales
3.564***
Employees
2.164***
Wage sum
2.662***
Gross investment
3.751***
EXPINT <5%
2.052***
1.530***
1.730***
2.140***
EXPINT 5-30%
2.815***
1.842***
2.217***
2.924***
EXPINT 30-50%
4.125***
2.284***
2.889***
4.315***
EXPINT >50%
7.106***
3.456***
4.627***
7.637***
Labour productivity
Labour productivity
Wage
Investment intensity
(per employee)
(per hours worked)
(per employee)
(per employee)
Variable
EXP
1.659***
1.623***
1.230***
1.719***
EXPINT <5%
1.353***
1.334***
1.132***
1.399***
EXPINT 5-30%
1.527***
1.487***
1.203***
1.571***
EXPINT 30-50%
1.797***
1.765***
1.265***
1.868***
EXPINT >50%
2.104***
2.044***
1.340***
2.195***
Coefficient of non-exporters = 1, time and industry dummies included
approach following Bernard, Jensen (1999)
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Summary
 Austrian exporters make up for 87% of employment and
94% of sales (small open economy)
 Export participation has only increased slightly in the
period 2002-2006
 Exporting firms …
- are bigger in terms of investment, employment and sales
- are more capital intensive and exhibit higher labour productivity
 Employees participate from export premium (capital-skill
complementarity)
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Thank you
for your attention!
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