Occupational migration out of agriculture in Japan
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Spillover effect
In the present study, we try to provide some empirical evidence for the export spillover effect examining the case of an emerging economy, namely India using firm level data for the period 1994-2006. We disentangle different spillover channels, namely export spillover, R&D spillover and wage spillover. We also consider the heterogeneous technological behaviour of local firms considering how in-house R&D efforts and disembodied technological imports may affect the overall exporting performance. Our findings mainly confirm that the two most important channels for export spillover are mainly the demonstration effect and the R&D spillover effect The decision to export is influenced mainly by technological activities of local firms, confirming that R&D is a key variable that help firms to overcome fixed costs that are crucial to start exporting. Moreover, the findings of the analysis suggest that local firms’ R&D is highly relevant to internalize the positive spillover effect emanating from MNEs both with regard to decision to export and export propensity
Spillover effect
Export performance
Affect
Empirical evidence
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FDI spillover effects are now becoming a hot research topic in the academe.That FDI has positive spillover effects has become the theoretical basis for many policy makers to formulate policies to introduce investment.However,all kinds of results are found in the last 30 years’studies.Many empirical studies conducted in recent years prove that FDI spillover effects are not obvious,even negative.Among the various causes,the important one is that only intra-industry spillover effects have been taken into consideration,while inter-industry spillover effects were neglected.Based on the panel data analysis of 13777 enterprise samples from 31 branches in Shanghai’s manufacturing sector,this paper confirms that the inter-industry spillover effects is an important channel for FDI spillover effects,the inter-industry spillover effects can be affected by such factors as the source of foreign investment,export-orientation or domestic market orientation,ownership types,technologic gap,etc.
Spillover effect
Investment
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Based on productive force which is calculated by nonparametric method,this paper analysis the spillover of FDI to our industry department.We find that the spillover is evident in higher-technology department and the effect is worse in lower-technology department.Though more observation,we find that the place of the validity comparison of the industries in which spillover of FDI is valid is coincident with their place of the TFP comparison.So, we should adjust the structure of FDI and absorb more FDI to our high-technology department in order to improve our technology level.
Spillover effect
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Korean Abstract:
본 연구는 주택시장에서 만연한 가격전이효과(spillover effect)를 추정한다. 주택시장에서의 정책효과는 정책 대상 주택이 받는 직접효과뿐 아니라, 정책 대상이 아닌 주택들이 간접적으로 받는 효과를 통해서도 나타난다. 가격전이효과는 간접효과의 일종으로, 정책 대상 주택들로부터 발생한 외부효과를 의미한다. 본 연구에서는 이러한 가격전이효과를 추정하기 위해 재건축 정비사업의 안전진단에 대한 정책 변화를 이용한다. 이러한 정책 변화는 재건축사업을 진행하는 아파트의 가격에 직접효과를 미칠 수 있으며, 이와 무관한 주택들의 가격에도 파급효과가 나타날 수 있다. 이를 통해 가격전이효과가 주택정책을 시행하는 데 주요한 고려사항임을 확인하고자 한다.
구체적으로 본 연구는 재건축사업의 안전진단 개선의 효과를 체계적으로 분석하였다. 정책 변화의 직접효과와 가격전이효과를 구분하여 분석할 수 있는 확장된 이중차분모형(difference-in-difference model)을 제시하였다. 또한 서울지역 아파트들의 기초 정보와 가격 자료를 구성하고 지리적 정보와 결합하였다. 이와 같은 모형과 자료를 토대로 살펴본 결과, 2018년 안전진단 개선정책의 직접효과는 유의하지 않은 반면, 주변으로의 가격전이효과가 상당히 크게 작용하였음을 확인하였다.
본 연구의 결과는 주택시장에 대한 정책을 시행함에 있어 시사점을 제공한다. 주택시장은 외부효과가 만연한 시장이므로 이러한 외부효과에 대한 고려가 필수적이다. 전체 주택시장에 광범위하게 적용되는 정책뿐 아니라, 일부 주택에 대한 정책도 전이효과를 통해 전체 주택시장에 영향을 미칠 수 있기 때문이다. 본 연구의 결과처럼, 2018년 서울지역의 주택시장에서 재건축사업에 대한 정책은 전체 주택시장에 커다란 영향을 끼친 것으로 보인다. 특히 정책의 목표가 정책의 대상에 대한 직접효과가 아닌 주변 지역에 미치는 파급효과라면, 정책이 기대한 것과 다른 방향의 외부효과가 발생할 가능성에 대해 면밀한 분석이 필요함을 확인하였다.
English Abstract:
This paper studies price spillover effects in housing market, utilizing a policy change on apartment reconstruction. Under the circumstance of various years built of houses in Seoul, the policy on reconstruction applies to a part of houses in Seoul. However, the policy change may affect the whole housing market via spillover effects of the policy.
To investigate spillover effects, I suggest an extended version of difference- in-difference model that captures both the direct and spillover effects of the policy. Using thorough data on apartments in Seoul, combined with geographical information, I found a significant spillover effect that diminishes with the distance from apartments in the process of reconstruction. Meanwhile, the direct effect is found insignificant. The spillover effect seems to make it hard to capture the direct effect of the policy since the prices of houses near the reconstruction apartments follow the prices of the reconstruction apartments. In sum, the spillover effect of the policy was a crucial factor in the housing market of Seoul in 2018.
This study finds a type of externalities which is prevalent in housing market. This spillover effect must be taken into account when policies are applied not only to the whole market, but to a part of the houses.
Spillover effect
Externality
Difference in differences
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This paper examines how technological spillover affects foreign entry, R&D level, and the host country's welfare. It finds that the strategic effect decreases as R&D spillover increases. The foreign firm tends to raise the likelihood of choosing direct entry when the technology spillover is larger. For the foreign firms as well as the host country, there is no difference between choosing direct entry or acquisition when the market is extremely competitive. On regulation of foreign ownership, technology spillover creates the possibility of choosing direct entry for the foreign firm, which is different from the results obtained in Mattoo et al. (2004).
Spillover effect
Knowledge spillover
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Based on the framework of the RD input and output analysis, this paper empirically examines the spillover effects of foreign-founded RD on the technical innovation capacities of Shanghai enterprises.The result shows that foreign-funded RD has a significant direct spillover effect, which is positive with the gross product of Shanghai, the RD input, and the market of new product. But the indirect spillover effect is comparatively weak. In particular, there is a negative impact of foreign-funded RD on the input of technical development personnel.
Spillover effect
Knowledge spillover
R&D intensity
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Spillover effect
Capital (architecture)
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I extend the model-based literature on spillover effects of labour market reforms on foreign (un-)employment by allowing for third-country effects. When the workhorse two-country model is enlarged to include a third country, a reform causes an additional indirect effect through a terms-of-trade shift between the foreign countries. To quantify the increase or reduction in the overall spillover by means of this channel, simulations based on empirically realistic scenarios are carried out. Thereby, the indirect effect turns out to be too small to overturn the direct effect or to increase it considerably. Differences in the reform spillover effects between foreign countries are mainly due to differences in characteristics which influence the size of the direct impact.
Spillover effect
Economic reform
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Spillover effect
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This paper is a practical guide for researchers and practitioners who want to understand spillover effects in program evaluation. The paper defines spillover effects and discusses why it is important to measure them. It explains how to design a field experiment to measure the average effects of the treatment on eligible and ineligible subjects for the program in the presence of spillover effects. In addition, the paper discusses the use of nonexperimental methods for estimating spillover effects when the experimental design is not a viable option. Evaluations that account for spillover effects should be designed such that they explain the cause of these effects and whom they affect. Such an evaluation design is necessary to avoid inappropriate policy recommendations and neglecting important mechanisms through which the program operates.
Spillover effect
Affect
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