Impact of International Information Technology Transfer on National Productivity. Online Supplement

Transcription

1 Impac of Inernaional Informaion Technology Transfer on Naional Prouciviy Online Supplemen Jungsoo Park Deparmen of Economics Sogang Universiy Seoul, Korea Tel: , Fax: Seung Kyoon Shin College of Business Aminisraion Universiy of Rhoe Islan 7 ippi Roa, Kingson, RI shin@uri.eu; Phone: (401) Fax: (401) G. awrence Saners Deparmen of Managemen Science & Sysems School of Managemen Sae Universiy of New York a Buffalo Buffalo, NY mgsan@buffalo.eu; Phone: (716) ; Fax: (716)

2 Par 1: Measuremen errors. Due o he qualiy changes which are no compleely reflece in he marke price of inpus an oupu, measuremen errors may exis in calculaing TFP. Suppose ha here are qualiy improvemens in inpus an oupu where Y*, K*, * are efine as he oupu, capial an labor in qualiy-ajuse efficiency unis, respecively. The correc specificaion of he proucion funcion woul hen be as follows: * N Y = A λ K * β * 1 β As Y, K, are observe variables, we have he following relaionships beween observe an unobserve qualiy-ajuse variables. Y * = c ( ) Y, Y K * = c ( ) K, K * = c ( ), where c Y (), c K (), an c () are unmeasure qualiy ajusmen over ime for each variable. To simplify he iscussion, we assume ha he qualiy increases over ime are geomerically consan. j c j c ( ) = e, for j * * * β *(1 β ) = Y, K,. We efine he qualiy-ajuse TFP (TFP*) as TFP Y /( K ). Then TFP* an measure TFP in his suy woul have he following relaions. logtfp = c c c + logtfp * Y K = * Since logtfp = log A + log( λ ), he correc moel specificaion woul be N logtfp = ( c c c ) + log A + N Y K log( λ) The correc specificaion shows ha log of TFP shoul have a ime ren. This implies ha our moel specificaion using (3.3) shoul resul in a non-saionary error erm because he erm ( c c c is omie. In oher wors, i shoul fail o show a coinegraing relaionship. However, Y K ) 2

3 since mos of our esimae moels show coinegraing relaionships, we can conjecure ha c0 c K c is very minimal an hus he mismeasuremen is minor. Par 2: Peroni s (1999) panel coinegraion es. The iscussion in his appenix raws heavily on he panel coinegraion es presene in Peroni (1999). Reaers shoul consul he original aricle for furher eails. The firs sep involves esimaing he appropriae levels, say equaion (5.1), for each counry i o obain an esimae resiual series e i. The secon process involves ifferencing he levels equaion once in orer o obain he resiuals, v i. This proceure obains an esimae of he long-run variances of v i, 2 vi (), using a kernel esimaor (choosing sample covariance weighs appropriaely). The hir sep involves running he following Augmene Dickey Fuller regressions for each counry i: p i Δ e = ρe + γ Δ e + u. (A1) i i i, 1 ik i, k i k = 1 The nex sep is o compue he variance of he resiual series an enoe i by s *2 ui (). Given ha s * 1 N *2 N su() i N i = 1, compue he following es saisic as N T 1/2 N T * * N, T N v( i) i, 1 v( i) i, 1 Δ i, 1 i= 1 = 1 i= 1 = 1, (A2) Z s e e e where N is he number of counries an T is he lengh of each counry series. Base on * Z NT,, we obain he panel coinegraion es saisics, Ψ NT,, by applying he mean ajusmen, μ, an variance ajusmen, ω, repore in Peroni (1999, Table 2). The panel coinegraion es saisic * Z NT, μ N Ψ NT, = (A3) ω has a sanar normal isribuion. 3

4 Par 3: Esimaions wih alernaive epreciaion raes for IT socks (10 an 15 percen) 1) Esimaion resuls wih 10 percen epreciaion raes for IT socks. Table 1A. Panel Toal Facor Prouciviy Esimaion (Depenen Variable: log(tfp)) Moel (i) Moel (ii) Moel (iii) Moel (iv) log(s ): Domesic IT capial sock 0.160*** 0.081*** 0.101*** 0.080*** (0.021) (0.018) (0.021) (0.019) log(s sum ): Simple sum of impore IT (0.031) log(s i ): Impor-weighe sum of foreign counry s IT 0.065*** concenraion (0.011) log(s i-ith ): Impor-weighe sum of IT from IT-inensive counries 0.082*** (0.013) log(s i IT ): Impor-weighe sum of IT from less ITinensive counries (0.004) log(s i TechH ): Impor-weighe sum of IT from hi-ech expor counries 0.052*** (0.013) log(s i Tech ): Impor-weighe sum of IT from less hi-ech expor counries (0.007) Observaions Number of Counries Ajuse R Coinegraion es Panel ADF saisics Decision CI e CI CI CI a log(x) is log of X. Sanar errors are in he parenheses. b All esimaions inclue unrepore counry-specific consans. c *, **, an *** enoe significance a he 10, 5, an 1 percen levels, respecively. Panel ADF saisic is from Peroni (1999), which has asympoic normal isribuion. e CI represens panel coinegraion. 4

5 Table 2A. Panel TFP Esimaion Base on IT-Inensive Foreign IT sock (S i ITH ) (Depenen Variable: log(tfp)) Moel (i) Moel (ii) Moel (iii) Moel (iv) Moel (v) Moel (vi) Moel (vii) e log(s ) 0.090*** 0.076*** 0.089*** 0.064*** 0.060*** 0.061*** 0.067*** (0.016) (0.016) (0.015) (0.015) (0.015) (0.015) (0.020) log(s i ITH ) 0.075*** 0.066*** 0.059*** 0.055*** 0.050*** 0.049*** 0.048** (0.012) (0.012) (0.011) (0.011) (0.011) (0.011) (0.019) imp 0.234*** 0.211*** 0.192*** 0.193*** 0.200** (0.073) (0.069) (0.069) (0.069) (0.092) ifi 0.542*** (0.098) pa 0.631*** 0.402** 0.427*** 0.398*** (0.116) (0.160) (0.160) (0.151) pc 0.141** 0.126* 0.132* (0.068) (0.068) (0.072) el 0.041** 0.037* (0.019) (0.020) Observaions Number of counries Ajuse R Coinegraion es Panel ADF saisics Decision CI CI CI CI CI CI N/A a log(x) is log of X. Sanar errors are in he parenheses. b All esimaions inclue unrepore counry-specific consans. c Sanar errors are in he parenheses. *, **, an *** enoe significance a he 10, 5, an 1 percen levels, respecively. Panel ADF saisic is from Peroni (1999) which has asympoic normal isribuion. CI represens panel coinegraion while N enoes no coinegraion. e Moel (vii) is he resul from insrumenal variables meho (IV) regression. 5

6 2) Esimaion resuls wih 15 percen epreciaion raes for IT socks Table 3B. Panel Toal Facor Prouciviy Esimaion: Depenen Variable: log(tfp) Moel (i) Moel (ii) Moel (iii) Moel (iv) log(s ): Domesic IT capial sock 0.154*** 0.077*** 0.095*** 0.076*** (0.020) (0.018) (0.021) (0.018) log(s sum ): Simple sum of impore IT (0.030) log(s i ): Impor-weighe sum of foreign counry s IT 0.065*** concenraion (0.011) log(s i-ith ): Impor-weighe sum of IT from IT-inensive counries 0.083*** (0.013) log(s i IT ): Impor-weighe sum of IT from less ITinensive counries (0.004) log(s i TechH ): Impor-weighe sum of IT from hi-ech expor counries 0.053*** (0.013) log(s i Tech ): Impor-weighe sum of IT from less hi-ech expor counries (0.007) Observaions Number of Counries Ajuse R Coinegraion es Panel ADF saisics Decision CI e CI CI CI a log(x) is log of X. Sanar errors are in he parenheses. b All esimaions inclue unrepore counry-specific consans. c *, **, an *** enoe significance a he 10, 5, an 1 percen levels, respecively. Panel ADF saisic is from Peroni (1999), which has asympoic normal isribuion. e CI represens panel coinegraion. 6

7 Table 4B. Panel TFP Esimaion Base on IT-Inensive Foreign IT sock (S i ITH ): Depenen Variable: log(tfp) Moel (i) Moel (ii) Moel (iii) Moel (iv) Moel (v) Moel (vi) Moel (vii) e log(s ) 0.087*** 0.070*** 0.087*** 0.061*** 0.058*** 0.059*** 0.066*** (0.016) (0.016) (0.015) (0.015) (0.015) (0.015) (0.020) log(s i ITH ) 0.077*** 0.067*** 0.061*** 0.056*** 0.050*** 0.049*** 0.048** (0.011) (0.012) (0.011) (0.011) (0.011) (0.011) (0.019) imp 0.237*** 0.213*** 0.194*** 0.195*** 0.201** (0.073) (0.069) (0.069) (0.069) (0.093) ifi 0.542*** (0.098) pa 0.629*** 0.397** 0.422*** 0.391*** (0.117) (0.160) (0.160) (0.152) pc 0.144** 0.128* 0.135* (0.068) (0.068) (0.072) el 0.040** 0.037* (0.019) (0.020) Observaions Number of counries Ajuse R Coinegraion es Panel ADF saisics Decision CI CI CI CI CI CI N/A a log(x) is log of X. Sanar errors are in he parenheses. b All esimaions inclue unrepore counry-specific consans. c Sanar errors are in he parenheses. *, **, an *** enoe significance a he 10, 5, an 1 percen levels, respecively. Panel ADF saisic is from Peroni (1999) which has asympoic normal isribuion. CI represens panel coinegraion while N enoes no coinegraion. e Moel (vii) is he resul from insrumenal variables meho (IV) regression. 7

8 Par 4: Esimaion resuls wih more comprehensive efiniion of foreign IT sock: S i (Imporweighe sum of foreign counry s IT concenraion) Table 5C. Panel TFP Esimaion Base on Comprehensive Foreign IT sock (S i ) (Depenen Variable: log(tfp)) Moel (i) Moel (ii) Moel (iii) Moel (iv) Moel (v) Moel (vi) Moel (vii) e log(s ) 0.074*** 0.062*** 0.081*** 0.060*** 0.059*** 0.059*** 0.072*** (0.018) (0.018) (0.018) (0.017) (0.017) (0.017) (0.025) log(s i ) 0.066*** 0.055*** 0.049*** 0.042*** 0.035*** 0.035*** (0.011) (0.011) (0.011) (0.011) (0.011) (0.011) (0.017) imp 0.247*** 0.230*** 0.209*** 0.210*** 0.224** (0.074) (0.070) (0.070) (0.070) (0.093) ifi 0.556*** (0.101) pa 0.617*** 0.362** 0.390** 0.365** (0.121) (0.163) (0.162) (0.161) pc 0.162** 0.144** 0.159** (0.070) (0.070) (0.073) el 0.043** 0.039* (0.019) (0.021) Observaions Number of counries Ajuse R Coinegraion es Panel ADF saisics Decision CI CI CI CI CI CI N/A a log(x) is log of X. Sanar errors are in he parenheses. b All esimaions inclue unrepore counry-specific consans. c Sanar errors are in he parenheses. *, **, an *** enoe significance a he 10, 5, an 1 percen levels, respecively. Panel ADF saisic is from Peroni (1999) which has asympoic normal isribuion. CI represens panel coinegraion while N enoes no coinegraion. e Moel (vii) is he resul from insrumenal variables meho (IV) regression. 8

9 Par 5: Esimaion resuls wih foreign IT sock efiniion which is solely compose of hi-ech expor counry IT socks: S i TechH (Impor-weighe sum of IT from hi-ech expor counries) Table 6D. Panel TFP Esimaion Base on Hi-ech-Expor Counry Originaing Foreign IT sock (S i ITechH ): Depenen Variable: log(tfp) Moel (i) Moel (ii) Moel (iii) Moel (iv) Moel (v) Moel (vi) Moel (vii) e log(s ) 0.084*** 0.071*** 0.085*** 0.066*** 0.065*** 0.064*** 0.078*** (0.017) (0.017) (0.016) (0.016) (0.016) (0.016) (0.024) log(s i TechH ) 0.064*** 0.054*** 0.050*** 0.041*** 0.034*** 0.034*** (0.011) (0.011) (0.011) (0.011) (0.011) (0.011) (0.019) imp 0.239*** 0.223*** 0.203*** 0.203*** 0.220** (0.074) (0.071) (0.071) (0.070) (0.096) ifi 0.572*** (0.099) pa 0.629*** 0.373** 0.401** 0.368** (0.120) (0.163) (0.162) (0.160) pc 0.161** 0.143** 0.162** (0.070) (0.070) (0.075) el 0.044** 0.039* (0.019) (0.021) Observaions Number of counries Ajuse R Coinegraion es Panel ADF saisics Decision CI CI CI CI CI CI N/A a log(x) is log of X. Sanar errors are in he parenheses. b All esimaions inclue unrepore counry-specific consans. c Sanar errors are in he parenheses. *, **, an *** enoe significance a he 10, 5, an 1 percen levels, respecively. Panel ADF saisic is from Peroni (1999) which has asympoic normal isribuion. CI represens panel coinegraion while N enoes no coinegraion. e Moel (vii) is he resul from insrumenal variables meho (IV) regression. 9