Economics, Econometrics and Finance
4 years ago

Trade openness reduces cost variation, benefiting industries and consumers alike.

Journal of Regional Science
OPENNESS TO TRADE AND INDUSTRY COST DISPERSION: EVIDENCE FROM A PANEL OF ITALIAN FIRMS*
Massimo Del Gatto, Gianmarco I.P. Ottaviano, Marcello Pagnini

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Trade openness in Italy affects how costs are spread out among different companies. When industries are more open to trade, costs are more similar across companies. This means that in open industries, companies tend to have similar costs compared to industries that are less open. Additionally, in these open industries, the average cost for companies is lower.