报告题目：FDI and Product Quality in Host Economies
报告嘉宾：孙思忠（Dr. SUN SIZHONG）
时间：2019年12月4日（周三）下午16:00-17:30
主持人：符大海（副教授）
评论人：刘悦（博士）
工作语言：英语
地点：中央财经大学学院南路校区主教702会议室
主办单位：中央财经大学国际经济与贸易学院
联系人：王峰
联系方式：61776358
主讲嘉宾简介：孙思忠（Dr. SUN SIZHONG），澳洲国立大学（ANU）经济学博士，现任澳大利亚詹姆斯库克大学副教授和澳大利亚中国经济研究学会（CESA）会长。主要研究领域包括实证国际贸易、实证产业组织、发展经济学、外商直接投资、中国经济。目前已经在国际知名期刊上发表高质量学术论文近三十篇，其中包括世界经济（The World Economy）、应用经济学(Applied Economics)、经济建模(Economic Modeling)、公司金融(Journal of Corporate Finance)和产业组织评论(Review of Industrial Organization)等。孙思忠博士同时也担任多个国际学术杂志的匿名审稿人。
论文摘要：
This paper examines, both theoretically and empirically, how the presence of FDI affects product quality of domestic firms through worker mobility. Melitz (2003) type heterogeneous firms are faced with a monopolistically competitive product market and labour markets of production workers and quality control personnel. We show that the probability that a FDI-trained worker will move from a foreign-invested to a domestic firm in the host economy is strictly positive. Mobility of more productive workers from foreign-invested to domestic firms lowers the cost of production and contributes to improvement in the quality of goods produced by domestic firms. Profit maximization by firms yields a structural relationship between unobserved product quality and observed revenue, which allows us to identify the impact of FDI on product quality. We use the theoretical model to frame empirical estimation, where we propose a novel approach to correct for sample selection bias. Under some mild assumptions, a set of population moments are derived and estimated using firm level data from China’s beverage manufacturing industry. We find that, on average, (i) working for foreign-invested firms boosts the skill level of workers by 11.12 per cent and (ii) the probability that an FDI-trained worker will move to a domestic firm is approximately 0.3. Estimation of the structural parameters shows that a one per cent increase in FDI leads to approximately 1.4 per cent improvement in product quality of domestic firms in China’s beverage manufacturing industry.