http://www.bis.org/cbhub/list/author/author_265/index.rss Research hub papers by author Giordano Mion en http://www.nbb.be/doc/ts/publications/wp/wp220En.pdf National Bank of Belgium Working Papers by Luis Araujo, Giordano Mion, Emanuel Ornelas Institutions and export dynamics 2012-03-28T12:35:59Z Institutions and export dynamics 2012-03-28T12:35:59Z Full text http://www.nbb.be/doc/ts/publications/wp/wp220En.pdf Luis Araujo Emanuel Ornelas Giordano Mion Luis Araujo, Giordano Mion, Emanuel Ornelas 2012 National Bank of Belgium Working Papers F10 F12 L14 http://www.nbb.be/doc/ts/Enterprise/Press/2012/cp120202En_WP220.pdf National Bank of Belgium Working Papers by Luis Araujo, Giordano Mion, Emanuel Ornelas Institutions and export dynamics 2012-02-02T12:35:00Z We study the role of contract enforcement in shaping the dynamics of international trade at the firm level. We develop a theoretical model to describe how agents build reputations to overcome the problems created by weak enforcement of international contracts. We find that, all else equal, exporters start their activities with higher volumes and remain as exporters for a longer period in countries with better contracting institutions. However, conditional on survival, the growth rate of a firm's exports to a country decreases with the quality of the country's institutions. We test these predictions using a rich panel of Belgium exporting firms from 1995 to 2008 to every country in the world. We adopt two alternative empirical strategies. In one specification we use firm-year fixed effects to control for time-varying firm-specific characteristics. Alternatively, we model selection more explicitly with a two-step Heckman procedure using "extended gravity" variables as our exclusion restrictions. Results from both specifications support our predictions. Overall, our findings suggest that weak contracting institutions cannot be thought simply as an extra sunk or fixed cost to exporting firms; they also significantly affect firms' trade volumes and have manifold implications for firms' dynamic patterns in foreign markets. Institutions and export dynamics 2012-02-02T12:35:00Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_220.htm Full text http://www.nbb.be/doc/ts/Enterprise/Press/2012/cp120202En_WP220.pdf Luis Araujo Emanuel Ornelas Giordano Mion Luis Araujo, Giordano Mion, Emanuel Ornelas 2012-02-02 National Bank of Belgium Working Papers http://www.nbb.be/doc/ts/publications/wp/wp200En.pdf National Bank of Belgium Working Papers by Andrea Ariu, Giordano Mion Trade in services : IT and task content 2010-10-14T12:35:59Z In this paper we investigate the determinants of the dramatic increase in services tradability focusing on the extensive margin of the phenomenon. We use balance sheet and firm-level service trade information over the period 1995-2005 provided by the National Bank of Belgium and we merge it with information on the evolution of information technology use and tasks performed by workers from the qualification and career survey provided by the BIBB-IAB. We show that technological change, measured either by the more intensive use of information technologies or by changes in the task content of jobs, has substantially contributed to the increase in the number of service-trading firms. Interestingly, we find evidence of a churning effect. While technological change has induced net entry into service trading, it has also increased the likelihood of both gross entry and exit of firms. Furthermore, our evidence suggests that due to the peculiar nature of services provision, the change in the tasks content of jobs is a better measure of technological change than the use of information technologies. Our results are robust to controlling for service trade liberalization and offshoring. Trade in services : IT and task content 2010-10-14T12:35:59Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_200.htm Full text http://www.nbb.be/doc/ts/publications/wp/wp200En.pdf Andrea Ariu Giordano Mion Andrea Ariu, Giordano Mion 2010-10-14 National Bank of Belgium Working Papers http://www.nbb.be/doc/ts/Enterprise/Press/2010/cp100923En.pdf National Bank of Belgium Working Papers by Giordano Mion, Hylke Vandenbussche, Linke Zhu Trade with China and skill upgrading: Evidence from Belgian firm level data 2010-09-23T12:35:00Z We use Belgian firm-level data over the period 1996-2007 to analyze the impact of imports from China and other low-wage countries on firm growth, exit, and skill upgrading in manufacturing. For this purpose we use both industry-level and firm-level imports by country of origin and distinguish between firm-level outsourcing of final versus intermediate goods. Results indicate that, both industry-level import competition and firm-level outsourcing to China reduce firm employment growth and induce skill upgrading. In contrast, industry-level imports have no effect on Belgian firm survival, while firm-level outsourcing of finished goods to China even increased firm's probability of survival. In terms of skill upgrading, the effect of Chinese imports is large. Industry import competition from China accounts for 42% (20%) of the within firm increase in the share of skilled workers (non-production workers) in Belgian manufacturing over the period of our analysis, but these effects, as well as the employment reducing effect, remain mainly in low-tech industries. Firm-level outsourcing to China further accounts for a small but significant increase in the share of non-production workers. This change in employment structure is in line with predictions of offshoring models and Schott's (2008) 'moving up the quality ladder' story. All these results are robust to IV estimation. Trade with China and skill upgrading: Evidence from Belgian firm level data 2010-09-23T12:35:00Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_194.htm Full text http://www.nbb.be/doc/ts/Enterprise/Press/2010/cp100923En.pdf Linke Zhu Giordano Mion Hylke Vandenbussche Giordano Mion, Hylke Vandenbussche, Linke Zhu 2010-09-23 National Bank of Belgium Working Papers http://www.nbb.be/doc/ts/Enterprise/Press/2010/cp100923En_wp195.pdf National Bank of Belgium Working Papers by Kristian Behrens, Gregory Corcos, Giordano Mion Trade crisis? What trade crisis? 2010-09-23T12:35:00Z We provide an analysis of the 2008-2009 trade collapse using microdata from a small open economy, Belgium. First, we find that changes in firm-country-product exports and imports occurred mostly at the intensive margin: the number of firms, the average number of destination and origin markets per firm, and the average number of products per market changed only very little. Second, econometric analysis reveals some composition effects in the intensive margin fall along firm, product and country characteristics. The most important factor explaining changes in exports is the destination country's growth rate of GDP. Had growth rates in 2008-2009 been the same as in 2007-2008, Belgian exports would have fallen by about 57% less than what we observe. Trade in consumer durables and capital goods fell more severely than trade in other product categories, which explains another 22% of the observed fall. Financial variables and involvement in global value chains have some explanatory power on the exports and imports fall respectively, but appear to have affected domestic operations in equal proportion. More generally, exports-to-turnover and imports-to-intermediates ratios at the firm level did neither systematically decrease nor reveal strong firm- or sector-specific patterns. Overall, our results point to a demand-side explanation: the fall in trade was mostly driven by the fall in economic activity. It is not a trade crisis --- just a trade collapse. Trade crisis? What trade crisis? 2010-09-23T12:35:00Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_195.htm Full text http://www.nbb.be/doc/ts/Enterprise/Press/2010/cp100923En_wp195.pdf Kristian Behrens Giordano Mion Gregory Corcos Kristian Behrens, Gregory Corcos, Giordano Mion 2010-09-23 National Bank of Belgium Working Papers http://www.nbb.be/doc/ts/publications/wp/wp161En.pdf National Bank of Belgium Working Papers by Kristian Behrens, Giordano Mion, Yasusada Murata, Jens Südekum Trade, wages and productivity 2009-03-23T12:35:59Z We develop a new general equilibrium model of trade with heterogeneous firms, variable demand elasticities and endogenously determined wages. Trade integration favours wage convergence, boosts competition, and forces the least efficient firms to leave the market, thereby affecting aggregate productivity. Since wage and productivity responses are endogenous, our model is well suited to studying the impact of trade integration on aggregate productivity and factor prices. Using Canada-US interregional trade data, we first estimate a system of theory-based gravity equations under the general equilibrium constraints generated by the model. Doing so allows us to measure 'border effects' and to decompose them into a 'pure' border effect, relative and absolute wage effects, and a selection effect. Using the estimated parameter values, we then quantify the impact of removing the Canada-US border on wages, productivity, mark-ups, the share of exporters, the mass of varieties produced and consumed, and thus welfare. Finally, we provide a similar quantification with respect to regional population changes. Trade, wages and productivity 2009-03-23T12:35:59Z Abstract http://www.nbb.be/pub/06_00_00_00_00/06_03_00_00_00/06_03_05_00_00/WP_161.htm Full text http://www.nbb.be/doc/ts/publications/wp/wp161En.pdf Kristian Behrens Jens Südekum Giordano Mion Yasusada Murata Kristian Behrens, Giordano Mion, Yasusada Murata, Jens Südekum 2009-03-23 National Bank of Belgium Working Papers F12 F15 F17