Ακαδημαϊκά Ερευνητικά Σεμινάρια στις Οικονομικές Επιστήμες- Industrial Policy Implementation: Empirical Evidence from China’s Shipbuilding Industry

Ακαδημαϊκά Ερευνητικά Σεμινάρια στις Οικονομικές Επιστήμες, 2020-2021

Τμήμα Οικονομικών Επιστημών

Εθνικό και Καποδιστριακό Πανεπιστήμιο Αθηνών

Dear All,

We would like to inform you for the following research seminar:

Wednesday, May 19, 2021, 19:00-20:30

Myrto Kalouptsidi, Assistant Professor at the Department of Economics at Harvard University and the Stanley A. Marks and William H. Marks, Assistant Professor at the Radcliffe Institute for Advanced Studies.

URL: https://sites.google.com/site/myrtokaloup/

Title:Industrial Policy Implementation: Empirical Evidence from China’s Shipbuilding Industry

Webex link: https://uoa.webex.com/uoa/j.php?MTID=me13e375d9b5be76599a9bbd901cf5640

Password (in case needed): WQmxpUPx655

Abstract

Industrial policies are widely used across the world. In practice, designing and implementing these policies is a complicated task. In this paper, we assess the long-term performance of different industrial policy instruments, which include production subsidies, investment subsidies, entry subsidies, and consolidation policies. To do so, we examine a recent industrial policy in China aiming to propel the country’s shipbuilding industry to become the largest globally. Using firm-level data and a dynamic model of firm entry, exit, investment, and production, we find that (i) the policy boosted China’s domestic investment, entry, and international market share dramatically, but delivered low returns and led to fragmentation, idleness, as well as depressed world ship prices; (ii) the effectiveness of different policy instruments is mixed: production and investment subsidies can be justified by market share considerations, while entry subsidies are wasteful; (iii) counter-cyclical policies and firm-targeting can substantially reduce distortions. Our results highlight the critical role of firm heterogeneity, business cycles and firms’ cost structure in policy design

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Organizers:

Assoc. Professor Dimitris Kenourgios

Assist. Professor George Dotsis

Assist. Professor Frago Kourandi

Department of Economics, NKUA.

http://www.econ.uoa.gr/ereynhtika-seminaria-research-seminars.html

Thank you