Industrial Policy Cuts Two Ways: Evidence from Cotton-Spinning Firms in Japan, 1956–1964

Kiyota, Kozo

doi:10.1086/605129

Cited by 6 publications

(4 citation statements)

References 22 publications

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“…Aghion et al (2015) found that government resource allocations to competitive enterprises increases enterprise TFP-total factor productivity [47]. This countered Kiyota and Okazaki (2010) [48], who argued that government subsidies allow a large number of enterprises without economies of scale to consume significant resources, preventing the transfer of government resources to enterprises with economies of scale and thus preventing an overall increase in TFP.…”

Section: Total Factor Productivity Of Enterprisesmentioning

confidence: 99%

Does the Water Resource Tax Reform Bring Positive Effects to Green Innovation and Productivity in High Water-Consuming Enterprises?

Xu,

Gao,

Hua

et al. 2024

Water

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Water resources are a fundamental natural and strategic economic resource and are closely related to high-quality economic and societal development. This paper uses the pilot implementation of the water resource tax reform to explore the impact of that reform on the green innovation and total factor productivity of enterprises. The study sample includes data for high water-consuming A-share listed enterprises in Shenzhen and Shanghai, China, from 2007 to 2021; the double-difference method was used for the analysis. Study findings indicate that replacing water resource fees with taxes significantly improves the green innovation level and total factor productivity of enterprises. Green innovation has a significant partial mediating effect between the water resource tax reform and total factor productivity. The water resource tax reform promotes green innovation in enterprises, enhancing total factor productivity. When considering different types of enterprise property rights, the economic effect of the water resource tax reform is more pronounced in non-state-owned enterprises, compared to state-owned enterprises. This paper provides empirical evidence for expanding the pilot scope of the water resource tax reform.

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Section: Total Factor Productivity Of Enterprisesmentioning

confidence: 99%

Does the Water Resource Tax Reform Bring Positive Effects to Green Innovation and Productivity in High Water-Consuming Enterprises?

Xu,

Gao,

Hua

et al. 2024

Water

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“…Kiyota and Okazaki (2005) and Criscuolo et al (2019) also found no positive relationships between industrial policy and total-factor productivity (TFP). Kiyota and Okazaki (2010) found that the annual average TFP growth rate of large firms for 1959 to 1964 was −0.72% using firm-level data in the cotton-spinning industry.…”

Section: Literature Of Industrial Policy and Firm Activitymentioning

confidence: 99%

Effects of Industrial Policy on Firms’ Innovation Outputs: Evidence From China

2022

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In the past two decades, China has implemented various industrial policies involving all aspects of national economic development. At the same time, the number of patent applications in China has rapidly grown to become the largest in the world. Is industrial policy the one force of China’s patent explosion? We investigate the influence of industrial policy on firm innovation outputs using data from the text of Five-Year Plan and Chinese listed firms during 2008 to 2020. Based on the negative binomial regression model, we find that industrial policy has a positive effect on the number of patent applications. Further tests show the varying relationship between industrial policy and firm innovation with industry heterogeneity. We also find that industrial policy increases the number of patent applications by easing financing constraints and strengthening competition. Conclusion of this study provides corresponding theory and decision basis for the implementation of industrial policy in emerging markets.

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“…What accounts for the widespread productivity differences between firms? A large amount of literature has discussed this issue and the research conclusions can be summarized as follows: (1) From the perspective of enterprises outside, various shocks of the external environment, such as trade frictions, exchange rate fluctuations, environmental regulations, and industrial policies, increase the uncertainty of production activities [31][32][33][34]. When the property rights of essential productive factors are transferred from factors' owners to firms, the intensified uncertainty increases transaction costs and hinders the optimization of factor usage, thus reducing firm productivity.…”

Section: Theoretical Analysis and Research Hypothesismentioning

confidence: 99%

Social Mobility and Firms’ Total Factor Productivity: Evidence from China

Wang

Luo

2022

Sustainability

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The key to achieving sustainable growth is to increase total factor productivity. What role does the openness of social structure play in promoting total factor productivity? Based on data from the China Labor-force Dynamic Survey (CLDS), we used the methodology of intergenerational order correlation to measure city-level absolute mobility and to examine the impact of social mobility on the total factor productivity of Chinese manufacturing firms. The results show that the following: (1) Higher social mobility has a significant positive impact on firms’ TFP. Our results still hold after using the instrumental variables strategy to mitigate the endogeneity problem and performing a series of robustness tests. (2) Heterogeneity tests show that the positive effect on total factor productivity is more pronounced in non-state-owned enterprises, small- and medium-sized enterprises (SMEs), and technology-intensive enterprises. Meanwhile, a higher level of marketization reduces the sensitivity of enterprises’ TFP to social mobility. (3) Three identified channels are human capital allocation, fairness perception, and technological innovation. Our findings inspire the government to promote the system and mechanism reform of social flow and improve sustainable development ability.

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Industrial Policy Cuts Two Ways: Evidence from Cotton-Spinning Firms in Japan, 1956–1964

Cited by 6 publications

References 22 publications

Does the Water Resource Tax Reform Bring Positive Effects to Green Innovation and Productivity in High Water-Consuming Enterprises?

Does the Water Resource Tax Reform Bring Positive Effects to Green Innovation and Productivity in High Water-Consuming Enterprises?

Effects of Industrial Policy on Firms’ Innovation Outputs: Evidence From China

Social Mobility and Firms’ Total Factor Productivity: Evidence from China

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