Imported Machinery for Export Competitiveness
研究了进口机械与国内机械的不完全替代性如何影响出口竞争力，发现发达国家和发展中国家从中受益程度不同，进口替代型国家未能利用进口机械降低成本。
Allowing for imperfect substitutability between domestically produced and imported machinery, we analyze the relationship between machinery investment and export competitiveness. An export price function is estimated for developed, export-oriented developing and import-substituting developing countries employing cointegration techniques for panel data. Between 1967 and 1990 imported machinery helped lower export prices for developed countries, although the distinction between domestic and imported machinery has recently blurred. Export-oriented developing countries benefited significantly from imported machinery from about the mid-1970s; moreover, domestic machinery did not substitute for imported machinery. Import-substituting developing countries were unable to harness imported machinery to reduce costs. JEL classicication codes: F12, D24. Keywords: Equipment Investment, Export-oriented Growth, Import-substitution, Cost Reduction. ___________________________________________________...