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11 Pokrovsky Boulevard,
Room Т-614
Phone: (495) 628-83-68
email: fes@hse.ru
Founded in 1992, the HSE Faculty of Economics is the university’s oldest faculty. In the years since it was founded, it has gained a reputation as Russia’s leader in terms of higher economic education.
A fundamental education in modern economic theory and mathematics is combined with the study of applied disciplines, such as taxation, budget policies and processes, financial management and other related fields.
Dranev Y., Miriakov M., Ochirova E. et al.
Journal of Corporate Finance Research. 2024. Vol. 18. No. 1. P. 5-19.
In press
In bk.: Oxford Research Encyclopedia of Economics and Finance. Oxford University Press.
Dagaev D., Paklina S., Parshakov P.
Social Science Research Network. Social Science Research Network. SSRN, 2024
FES International Research Seminar Series with Kalina Manova, University College London, UK
Our next speaker in the FES International Seminar Series this academic year is Kalina Manova who is an Associate Professor in Department of Economics (University College London).
She is specializing in international trade and investment.
Kalina serves on the Council of the European Economic Association and on the editorial boards of Review of Economic Studies and Journal of International Economics. She is Research Fellow at the Centre for Economic Policy Research, Associate at the LSE Centre for Economic Performance, Research Affiliate at the International Growth Centre, and Affiliate at CESifo Institute.
Speaker: Kalina Manova (University College London).
Title: Productivity, (Mis)allocation and Trade
Abstract: We examine the impact of international trade on aggregate welfare and productivity. We show theoretically and numerically that bilateral and unilateral export liberalizations increase aggregate welfare and productivity, while unilateral import liberalization can either raise or reduce them. However, all three trade reforms have ambiguous e§ects in the presence of resource misallocation across heterogeneous Örms. Using unique new data on 14 European countries and 20 manufacturing industries during 1998-2011, we empirically establish that exogenous shocks to both export demand and import competition generate large aggregate productivity gains. We develop a precise mapping between theory and empirics, and provide evidence for the adjustment mechanisms. First, both trade aspects increase average Örm productivity, but export expansion also reallocates activity towards more productive Örms, while import penetration acts in reverse. Second, both export and import exposure raise the productivity threshold for survival, but the latter is not a summary statistic for aggregate productivity. Finally, e¢ cient institutions, factor and product markets amplify the productivity gains from import competition, but dampen those from export expansion. We conclude that the e§ects of globalization operate through Örm selection and reallocation in the presence of resource misallocation.
Date: September 20, 2019 (Friday)
Time: 13:40-15:00
Venue: Pokrovka campus, room T510 (109028, Moscow, Pokrovsky Boulevard 11)
For external participants: to order the pass, please contact Disa Malbakhova dmalbakhova@hse.ru