要素市场扭曲与多产品出口企业的贸易边际研究

基于多产品异质性企业模型,本文从要素市场扭曲这一深刻的中国经济现实出发研究出口企业的贸易行为模式。研究发现：（1）要素市场扭曲通过工资效应激励了中国企业出口,并且这种激励的87%来自出口深度,只有13%来自出口广度;（2）与内资企业相比,外资企业利用扭曲从中国的廉价劳动力中获得了更多的出口激励;（3）在国有企业内部,扭曲对中小型国有企业的出口促进效果更强;（4）要素市场扭曲显著促进了间断性出口企业的出口,对于持续出口企业的影响并不显著。     

Higher education expansion and domestic value added in exports: Theory and evidence from China

This paper analyzes the impact of China’s higher education expansion on domestic value added in exports. To be specific, we firstly construct a nested CES production function model, with import inputs being complementary to skilled labors, and substitutable to unskilled labors. By exploiting China’s higher education expansion as a quasi-natural experiment, this paper accurately examines the causal effect of the human capital expansion on the domestic value-added in exports. The results show that human capital expansion has negative effects on the domestic value-added in exports, and this result is driven by import inputs increase and processing trade engagement. We also find that the effect is more prominent for processing trade, foreign-invested firms, high-tech firms and disciplines of science and engineering.     

Is Exporting a Source of Productivity Spillovers?

This paper investigates whether exporting generates positive productivity spillover effects on other plants in the same industry and on plants in vertically related industries. Using data for Chilean manufacturing plants from 1990 to 1999, we find strong evidence that domestic as well as foreign-owned exporting plants improve productivity of local suppliers. We also find some evidence of horizontal spillovers from exporting but these are mainly generated by plants with foreign ownership. These results suggest that positive productivity spillovers are not only generated by the presence of foreign-owned exporting plants but also by exporting activity of domestic firms. The results are robust to controls for agglomeration of economic activity, the importance of non-exporting foreign-owned plants, and plant unobserved heterogeneity. JEL no.  F10, F23, O3, O54     

The impact of exchange rate movements on multi-product firms' export performance: Evidence from China

This paper investigates the effects of RMB exchange rate movements on Chinese multi-product firms' export behavior using China's firm-level micro data and highly disaggregated customs data over 2000–2007. We find that real appreciation of RMB exerts negative effects on Chinese multi-product firms' export prices and export quantities, and the effects are significantly different across firms with different productivity as well as the product ladder within multi-product firms. In addition, we document that real appreciation of RMB narrows multi-product firms' export scope and induces firms to skew their export sales towards the best performing products. Finally, the paper explores the effects of RMB exchange rate movements on firms' export duration, and shows that real appreciation of RMB lengthens the export duration of core products but shortens the export duration of non-core products.     

Do Government Subsidies Stimulate Training Expenditure? Microeconometric Evidence from Plant-Level Data

This paper examines whether financial assistance provided by government induces firms to spend more of their own funds on training expenditures, using plant-level data for the Republic of Ireland. We pay particular attention to the potential problems in such an evaluation study, namely selectivity and endogeneity, by first identifying a valid counterfactual for grant receiving plants via a matching estimator and then employing a difference-in-differences technique on this matched sample. Our results show that there are differences in causal effects between domestic and foreign-owned plants. For the former, we find clear evidence that grant receipt stimulates private expenditure, whereas there are no statistically significant effects for foreign-owned plants based in Ireland.     

The role of FDI in domestic exporting: Evidence from China

This paper investigates the impact of FDI on domestic exporting firms. We show that domestic firms respond to an increase in the presence of FDI by increasing their exports even though the increase in foreign presence can drive up production costs and make the domestic market more profitable. Our test case for this hypothesis is China, where we confirm the significant positive impact of FDI on domestic firms’ exports. This finding sheds light on the massive exports and rapid inflow of foreign investment that have been observed in China in the past three decades.     

Product and destination mix in export markets

This article studies the joint destination and product strategies of exporters, using the universe of export transactions for firms located in Portugal in the period 1995–2005. The article breaks down the annual growth rate of total exports along different margins and details choices made by multi-product, multi-destination firms regarding their export portfolio. In addition, the article looks at similar features for the subsample of new exporters. We find that both the firm-level extensive and intensive margins are important in driving the year-to-year variation in aggregate exports. However, variation over time in the sales of continuing exporters is mainly driven by their sales in continuing destinations. In addition, a product’s export tenure within a firm varies largely across currently exported products in the context of an intense activity of product and destination switching. Moreover, the higher the importance of a product, the more its sales are concentrated in the firm’s top destination. Finally, the article finds that, while continuing exporters enter new markets mainly by selling old products, new exporters access new destinations mainly by exporting new products.     

Do High-technology Exports Cause More Technology Spillover in China？

The volume of China’s high-technology exports has grown sharply since the implementation of its export promotion strategy "Revitalizing Trade through Science and Technology" in 1999.This paper investigates whether technology spillover effects are greater for hightechnology exports than for primary manufactured goods exports.We present a generalized multi-sector spillover model to identify both between spillover effects from exports towards non-exporters and within-spillover effects among export sectors.Using panel data for 31 provinces in China over the period from 1998 to 2005,we find that although high-technology export sectors have higher productivity compared with other sectors,this productivity advantage does not lead to technology spillover to both domestic sectors and other export sectors,and export technology spillover mainly derives from traditional export sectors rather than high-technology export sectors.As such findings can be largely attributed to the fact that China’s high-technology exports depend significantly on processing trade by foreign- invested firms,policy implications are discussed in relation to how to best promote the role of China’s high-technology exports during economic expansion.     

Pass-on trade: why do firms simultaneously engage in two-way trade in the same varieties?

This paper documents that a large fraction of trade flows at the firm level consists of simultaneous imports and exports in identical products, narrowly defined at the 8-digit product classification, which we call pass-on trade (POT). We use data on imports and exports at the firm and product level for Slovenian manufacturing firms in the period 1994–2008, to show that, on average, 70 % of all exporting firms engage in POT. This corresponds to more than 50 % of all exported products. Thus, imported products that are exported again by the same firm is a statistical regularity of trade of Slovenian manufacturing firms. We document that the use of POT is increasing in firm size, product diversification, multinational status as well as firm productivity and profitability. We offer and explore empirically a number of explanations for POT. Among possible explanations, we find evidence on the importance of firms’ multinational networks and demand complementarities between firms’ own and POT products. The latter confirms the theoretical explanations for carry-along trade (CAT) as developed by the recent work of Bernard et al. (2012).     

Economic performance and international trade engagement: the case of Portuguese manufacturing firms

By combining economic and financial data for Portuguese manufacturing firms with data on their exports and imports, we uncover some aspects of the relationship between international trade engagement and firms’ performances. In line with recent theoretical and empirical developments in the international trade literature: (i) we testify that Portuguese international trade is highly concentrated, especially on the import side, and both in inter- and intra-sector terms; (ii) we corroborate previous studies and theses according to which two-way traders outperform only importers, only exporters and above all domestic firms; (iii) we find that the greater the diversification of markets and goods (especially with regard to imports), the better the performance achieved by internationalised firms; (iv) we notice that the higher the intensity of firms’ international trade (especially imports), the better their performance; (v) we also present evidence that destination markets for exports and origin markets for imports are also important in explaining firm’s performance.     

Product-destination Portfolio and Dynamics by Firm Ownership and Trade Mode： Evidence from Chinese Industrial Exporters

Using matched firm‐level trade and production data over the period 2000–2006, we study the product‐destination portfolio and dynamics of Chinese industrial exporters and make a thorough comparison among four types of firms and between two kinds of trade modes. We find that ownership structure and trading modes do matter to the destination and product mix choices of Chinese industrial exporters. In particular, foreign firms' exports and processing trade tend to be more destination‐specific and products are more specialized. Therefore, foreign firms are more likely to maintain a particular link within a specific global supply chain.     

The impact of destination tariffs on China’s exports: Country,firm, and product perspectives

Based on multi-product heterogeneous firm trade theory, we combine China's customs data with the World Integrated Trade Solution’s (WITS) tariff data from 2002 to 2013 and analyze the impact of destination tariffs on China's exports at the country, firm, and product levels. The results reveal that tariffs had a negative effect on country-level exports and their extensive margins. After controlling for the inter-firm composition effect, tariffs had negative effects on firm-level exports and their intensive margins, but positive effects on their extensive margins. After also controlling for the within-firm export composition effect, tariffs had a negative impact on the exports of core products; however, the negative impact diminished as the core grade and technological content of the products increased. Using these elasticities to analyze Sino-U.S. trade frictions, we determine that the additional U.S. tariffs reduced China's exports of high-tech products more than its medium- and low-tech products.     

Multi-product firms,product scope,and the policy of export tax rebate

This paper extends the model of Nocke and Yeaple (2014) to analyze the impact of the export tax rebate (ETR) changes on multi-product firms' product scope. In response to ETR changes, firms optimally reallocate their organizational capital, and adjust the intensive and extensive margins of production. We test the model's predictions using firm-level export and ETR data from China. We find that less profitable products, facing larger ETR reductions, and products in which China has a comparative disadvantage, are more likely to be dropped.     

The Location of Manufacturing Exporters in Africa: Empirical Evidence

Abstract: The costs of accessing and using a port/export hub should be high on the list of priorities for export promotion agencies in Africa. This conclusion emanates from this paper focusing on the geographical location of manufacturing export industries in South Africa. Here manufacturing export firms tend to be spatially concentrated with about 84 per cent of total manufacturing exports produced in only 6 per cent of magisterial districts. Distance from an export hub is negatively related to the density of manufactured exports. The largest volumes of manufactured exports are generated within 100 km of an export hub. For electronics, about 98 per cent of manufacturing takes place within 100 km of an export hub. Comparison over time showed that the number of locations from which manufacturing exports occur increased by 15 per cent over 1996–2004 and that manufacturing exports increased in the band between 200 and 400 km from the nearest hub.     

Export spillovers and export performance in China

This paper examines the local export spillover effect on the individual decisions to start exporting (the extensive margin) and export volume (the intensive margin), using a unique dataset of Chinese export firms, at the product-level and by destination country. Based on a gravity-type equation estimated at firm-level, we find that export spillovers positively influence not only the decision of a nearby firm to start exporting, but also the volume of the exporting. Several methods are used to verify the robustness of these results. In addition, we find that the effect of export spillovers is stronger when it is product-destination-specific than that when it is either product or destination-specific alone, and also stronger than that is in general. Geographically, local export spillovers exhibit spatial decay in China: the effect is stronger for firms located in the same city than it is for firms outside the city. Small and multi-product firms are more likely to be influenced by the local export spillovers, and their impact is stronger for firms exporting complex goods and exporting to easy-entry countries. Moreover, the export spillovers from private firms are the strongest, followed by foreign-invested firms with the effect generated by state-owned firms ranking last.     

R＆D Activities of Manufacturing Multinationals in China： Structure,Motivations and Regional Differences

This paper investigates the R＆D motivations of various multinationals operating in China, drawing on a large-scale, firm-level dataset of official Chinese statistics on science and technology activities. The present study shows that R＆D efforts in China have intensified for bothJbreign-owned and domestic firms, but less so for foreign-owned firms, perhaps because foreign-owned firms tend to operate on a foundation of technological capabilities developed within their home countries. Statistical analysis confirms that the major motivations for foreign R＆D in China are production-driven, not market-driven or technology-driven. Nevertheless, one sees significant variations in foreign R＆D strategies from region to region. Guangdong is characterized by production-driven R＆D. In Beijing, R＆D strategies tend to take a technology-driven approach, drawing on the clusters of scienl（fic institutions. In Shanghai, the R＆D efforts of multinationals tend to focus on support for market-driven R＆D,     

Wholesalers,indirect exports,geography, and economies of scope: Evidence from firm transaction data in Japan

This study examines wholesalers’ roles in manufacturers’ exports in Japan. First, it is shown that, like in the case of manufacturing sector, a productivity sorting on the overseas activities is also present in the case of wholesalers. Namely, only the most productive wholesaler firms can engage in foreign direct investment, and the next productive wholesaler firms can participate in export activities, and the least productive wholesaler firms do domestic transactions only. Second, we investigate how the wholesalers facilitate manufacturers’ export activities in the form of indirect exports. We have found that the wholesalers through which manufacturing firms indirectly export their goods are predominantly located in Tokyo or Osaka. The probability of indirect exports is negatively correlated with distance between manufacturers and wholesalers, but there are certain threshold distances at 300–500 kilometers, over which the chance of indirect exports turns null. Another notable finding is that wholesalers’ productivities have positive correlation with the chances of indirect exports whereas manufacturers’ productivities do not matter. The number of manufacturers from which a wholesaler purchases goods, is found to have a positive correlation with the probability of indirect exports, a type of economies of scope effect.     

Exports, FDI, and Productivity: Dynamic Evidence from Japanese Firms

This paper examines the relationship between exports, foreign direct investment, and firm productivity. Using longitudinal panel data on Japanese firms, it is found that the most productive firms engage in exports and foreign direct investment, medium productive firms engage in either exports or foreign direct investment, and the least productive firms focus only on the domestic market. Moreover, exports and foreign direct investment appear to improve firm productivity once the productivity convergence effect is controlled for. Firms that retain a presence in foreign markets, either by exports or foreign direct investment, show the highest productivity growth, which contributes to improvements in national productivity. JEL no. F10, F20, D21     

全球价值链分工下的双边贸易收益核算：以中美贸易为例

通过构建双边贸易收益核算模型,从总体规模、行业结构、实现方式等层面对中美双边贸易收益进行核算。本文发现中美双边出口中均包含着大量的对方国内增加值,与增加值贸易差额比较,传统统计口径的中美贸易差额出现明显高估。其中中国对美货物出口的贸易顺差被显著高估,而服务出口的贸易顺差被明显低估。在中美双边贸易中,中国对美出口包含的本国国内增加值比重不到七成,而美国对华出口包含的本国国内增加值比重超过八成。中国出口到美国的产品绝大部分表现为最终产品并且被美国当地消费,而美国出口到中国很大部分表现为中间品,并且通过对增值折返及对第三国出口的形式实现。     

Human Capital Development and Its Influence on FDI Withdrawal: An Empirical Analysis

This paper examines the causal effect of human capital expansion on the exit of foreign-owned firms using the difference-in-differences method together with a quasi-natural experiment involving the expansion of higher education in China in 1999. The expansion of human capital reduces the probability of the exit of foreign-owned firms significantly. This conclusion remains robust under a series of tests, including changing the sample range, adjusting the identification method, and considering the trade liberalization. Analysis of the mechanism indicates that human capital expansion reduces the exit probability of foreign-owned firms by stimulating innovation, improving production efficiency, and optimizing the quality of input and output goods. Industries with higher asset specificity are also more likely to restrain the exit of foreign-owned firms through human capital expansion. Overall, the findings of this study provide a good insight into the exit behavior of FDI in China from the perspective of human capital.