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Monday, October 5th
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A previous study for the Office of Advocacy by Robert Feinberg found international pressures on small manufacturers with fewer than 20 employees, but the effects on larger manufacturers were limited. This study examines the effects of international pressures on small firms in industries further down the value chain, the wholesale and retail trade industries. As is the case for manufacturers, the exit rates of small wholesalers increased as a result of international
pressure in the form of real exchange rate appreciation. In contrast to the findings for manufacturing,
the increase in exit rates for wholesale trade firms was true for all firm size classes studied, not just the smallest. Small wholesalers, rather than being able to take advantage of the lower prices for imports, are closely tied to domestic manufacturers. On the other hand, small retailers other than automobile
dealers were found not to be affected by international
competition. _______________________________________________ Professor Feinberg received his BA from the University of Pennsylvania, and Ph.D. from the University of Virginia. He taught for ten years on the faculty of Pennsylvania State University, has served as an economist with the Antitrust Division of the Department of Justice and the International Trade Commission, and has been at American University since 1989, serving as Economics Department Chair from 1996 to 2000. He has been a visiting research fellow at the International Institute of Management in Berlin, a Fulbright Scholar at the University of Limerick (Ireland), a Program Director for Economics at the National Science Foundation, and a Visiting Professor at the University of New South Wales in Sydney. He is a past President of the Industrial Organization Society and is a co-editor of the Southern Economic Journal. |
USM Professor Jeffrey Gramlich was appointed the first L.L. Bean/Lee Surace Chair in Accounting in the USM School of Business in 2003. His appointment was made possible by a $1 million gift from L.L. Bean, Inc., its board chair, Leon Gorman, his wife Lisa, Jim and Maureen Gorman, and Tom Gorman, who established the chair in memory of L.L. Bean CFO Lee Surace '73, '81, who died in March of 2001. Surace was chair of the USM School of Business' Advisory Council and was a frequent guest lecturer. The USM School of Business is accredited by the prestigious AACSB International. For students seeking the finest education and companies seeking the highest caliber talent, partnership, and educational opportunities, AACSB International accreditation is one of the most important affirmations of sustained quality in the word. For more information about School of Business programs, call 780-4020. |
M President
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