Imports and Exports at the Level of the Firm: Evidence from Belgium

This paper explores a newly available panel dataset merging balance sheet and international trade transaction data for Belgium. Both imports and exports appear to be highly concentrated among few firms and seem to have become more so over time. Focusing on manufacturing, we find that facts previously reported in the literature as applying only to exports actually apply to imports too. We note that the number of trading firms diminishes as the number of export destinations or import origins increases. The same is true if we consider the number of products traded. Our results generally point to a process of self‐selection in both export and import markets. Also, the productivity advantage of exporters reported in the literature may be overstated because imports were not considered. We find that firms that both import and export are the most productive, followed, in descending order, by importers only, exporters only and non‐traders. Our results also show the existence of fixed costs of imports, which appear to be of similar magnitude as those of exports.     

Entry, Competitiveness and Exports: Evidence from the Indian Firm Data

This paper attempts to evaluate the effects of industrial de-licensing of 1991 and WTO-induced tariff-reforms of 1995 on domestic competitiveness and export performances of the Indian manufacturing during the post-1991. Unlike existing empirical studies not backed by theoretical underpinnings, the paper has been founded on an open-economy-oligopoly-model framework. The paper develops an econometric method of estimating the output from data on sales of the firms, thereby estimating the firms?? marginal cost, which is conducive for the entire empirical analysis with a unified set of firm data. Using firm level data for 14 sectors for the period 1990?C2008, it is observed that there has been an increase in the number of firms resulting in a fall in the concentration ratio and elasticity of demand at the point of equilibrium is generally less than unity and is declining over-time. The panel regression results of increasing exports by bigger firms also conforms the theoretical predictions.     

进口中间品、进口资本品与企业出口复杂度

本文利用迭代法测算了企业出口复杂度,并考察了资本品和中间品等不同类型进口产品对企业出口复杂度的差异性影响。结果表明:进口资本品可以提升中国企业出口复杂度,而进口中间品则抑制其出口复杂度;进口中间品对外资企业出口复杂度的抑制程度要强于本土企业,这印证了加工贸易低端锁定效应的存在;进口中间品提升了高技术制造业和一般贸易企业的出口复杂度,抑制非高技术制造业和加工贸易企业的出口复杂度;进口资本品只显著提升了本土企业、高技术制造业以及一般贸易企业的出口复杂度;在影响机制检验中,进口中间品对企业出口复杂度的抑制作用主要是由企业研发投入被抑制、研发部门人力资本被挤出而引致的。     

加拿大影响牛奶进口和奶制品出口措施案评析

加拿大影响牛奶进口和奶制品出口的措施案是自WTO成立以来第一个标准的农产品出口补贴案。该案的重要性在于提供了如何认定WTO法律体制中“政府”的解释性标准,对于我国政府遵守WTO规则和保障经济利益具有重要的启示意义。     

Foreign Direct Investment,Exports and Imports in Mexico

This paper analyses the liberalisation of foreign direct investment (FDI) in Mexico since the late 1980s, and its relationships with exports and imports. Such a process has eased the access of multinational corporations (MNCs) to the country, which has promoted exports. However, it has also resulted in a higher import content and the displacement of local firms, which has limited Mexico's economic development through the balance of payments constraint. The analysis is supported by the existence of linkages – bidirectional Granger causality – between exports, imports and FDI.     

A Note on Firm Age and the Margins of Exports: First Evidence from Germany

This article uses a new tailor-made data set to empirically investigate the link between firm age and the extensive and intensive margins of exports for the first time for Germany. Results turn out to be fully in line with theoretical considerations. Older firms are more often exporters, export more and more different goods to more different destination countries, and export to more distant destination markets.     

SME Policy, Financial Structure and Firm Growth: Evidence From Japan

This paper investigates the effects of public policy and financial structure on the growth of small and medium enterprises (SMEs). Using a panel data set on SMEs in the Japanese manufacturing industry, we examine whether or not the SME Creative Business Promotion Law (CBPL) and financial structure affect firm growth. It is found that SMEs approved by prefectural governors under this law tend to increase assets. Further, we provide evidence that the CBPL and cash flow have an impact on the growth of younger SMEs.     

中国对外贸易的“优进优出”战略:基于产品质量与增加值率视角的研究

本文利用中国工业企业数据和海关数据的匹配数据库,基于Tobit、IVTobit等多种计量方案实证研究了进口产品质量提升对出口产品质量和出口国内增加值率的影响。研究发现:(1)总体来看,一般贸易进口产品质量显著提升了对应产品的出口质量,且在高、低研发强度企业及外资企业和民营企业均得到一致结果;高研发强度企业加工贸易进口产品质量有利于提升其出口产品质量,低研发强度企业则呈现负向影响。(2)无论是基于OECD成员国、"一带一路"倡议抑或反倾销调查分组还是针对高收入国家,一般贸易下进口产品质量均显著提升了同类产品的出口质量,但低收入国家则不显著。对加工贸易而言,来自非OECD国家和"一带一路"沿线国家进口产品质量会降低出口产品质量。(3)从影响机制看,不管是一般贸易还是加工贸易,进口产品质量梯度均对进口产品质量影响出口产品质量的促进作用形成正向调节效应;一般贸易下进口产品质量通过创新中介效应显著提升了出口产品质量;但加工贸易下该效应则不确定。(4)进一步拓展研究发现,一般贸易下进口产品质量显著提高了出口国内增加值率,但加工贸易却降低了国内出口增加值率。     

Intermediary Products: FDI Strategies,Imports, Exports,and Trade Balances in Developed Economies

Has the relationship between the dominant investment motives of multinational enterprises (MNEs) and national trade balances, imports, and exports changed over time? A 1996 study hypothesized and found that the MNE market versus resource seeking investment motives in developed countries (DCs) resulted in different aggregate impacts on national trade balances, imports, and exports. In this study, we ask whether the increased use of intermediary products, a major change in the way MNEs conduct business, affect the previously found patterns. Because firm‐level data on intermediary products is not widely available across countries, we indirectly test their impact, hypothesizing that the rise in use of intermediary products has changed MNE investment motives in DCs, resulting in stronger relationships between foreign direct investment (FDI) and imports/exports in high‐FDI DCs but weaker links between FDI and national trade balances. Implications and future research directions are discussed. © 2015 Wiley Periodicals, Inc.     

Market and Product Diversification: The Evidence From Retailing

This study explored the number of international regions in which retailers operate, the assortment of product categories they offer their customers, and the effects of these market and product category diversification strategies on retail sales volumes. The analysis used sales data about 246 global large-scale retail stores from diverse industries and countries of origin. We found that both strategies have positive effects on retail sales volumes. The two strategies interact such that the positive effect of market expansion on retail sales volumes is larger for retailers who also follow a strategy of greater product category diversity.     

On the Role of Imports in Enhancing Manufacturing Exports

Making use of a large panel data set on Italian manufacturing firms, we provide evidence on the effect of imports on the firm's export performance. We distinguish imports of intermediates according to their origin, and we find that inputs sourced from low labour cost countries promote the firm's export activity. Imports from high‐income countries do not significantly contribute to the export orientation of firms, especially when both persistence in export and the possible endogeneity of the import measures are accounted for via system generalised method of moments (GMM) estimation of a linear probability model. Our evidence suggests that the impact of imports on the firms’ export activity works through the cost‐saving channel rather than the technology channel.     

中间品进口多元化与中国企业出口产品质量

本文主要从中间品进口多元化的角度入手,分析中国出口产品质量的决定因素和提升机制。理论上,进口中间品多元化可以通过边际成本、固定成本等渠道影响出口产品质量,并受限于企业自身的吸收能力。实证方面利用中国海关数据库与中国工业企业数据库匹配进行计量分析。结果表明:中国企业进口中间品多元化水平呈现下降趋势;从所有制分布看,国有企业进口中间品多元化水平最高,私营企业最低,外资企业居中;平均看,进口中间品多元化提升了中国企业出口产品质量;但这一提升作用仅限于外资企业、源自OECD国家的中间品和2004-2006年样本;对于本土企业、源自发展中国家的进口中间品和2000-2003年样本并不显著,可能的解释在于,一是企业与进口中间品匹配的吸收能力较差,二是企业进口中间品多元化的边际成本效应弱于固定成本效应。     

公司规模、分析师选择偏差和公司市场绩效——基于收购方公司视角的研究

在对中国2769个股权收购样本进行分析后发现,分析师跟踪和收购公告日效应(短期绩效)之间呈显著负向关系,但当控制公司规模时显著性消失;进一步研究发现,这种负向关系是由分析师偏好跟踪大规模公司造成的,从而证明了中国分析师存在选择偏差.分析师跟踪和收购方公司的长期市场绩效间存在显著的正向关系,从而为分析师的长期价值发现功能提供了证据.对于中国证券分析师的选择偏差问题,本文建议用残差分析师跟踪替代分析师跟踪的原始值来解决.随着证券市场制度创新和小型公司上市成为新常态,监管部门需要规范分析师跟踪公司的规模分布,并考虑进一步放宽机构投资者的投资标的选择范围.     

外商直接投资对中国商品进出口影响的实证分析

本文采用贸易引力模型,结合混合回归分析与横截面分析两种方法,对1992年至2004年外商对华直接投资对中国商品进出口、出口、进口的影响进行了实证分析。混合回归结果表明,外商对华直接投资对中国商品进出口、出口、进口的增长均存在长期且显著的促进作用,而且这种促进作用存在时滞。横截面分析结果表明,每年外商对华直接投资对于中国商品进出口、出口、进口的促进作用随着时间的推移是波动的,但从总趋势来看,这种促进作用在不断增强。     

进口中间品质量对企业生产率的影响:不同层面的实证

文章借鉴Amit K&Khandelwal(2013)的方法,使用2000-2006年中国工业企业数据库和中国海关数据库的匹配数据,测度进口中间品质量,并从不同层面实证检验了进口中间品质量对企业生产率的影响差异。结果表明:我国企业进口中间品质量对生产率有显著的正向影响;这种影响在不同层面存在差异,具体表现为进口中间品质量对加工贸易企业、外资企业、从发展中国家进口的企业和中高技术行业的企业生产率的促进效应明显高于其他对应类型的企业;学习效应在进口中间品质量的生产率影响中起主要作用;此外,文章还发现企业规模与生产率存在正向关系,说明中国企业总体还未达到规模不经济阶段。     

The Effect of Corruption on Exports and Imports in Latin America and the Caribbean

International trade, in particular exports and imports, are regarded as important factors that can increase the economic development of the Latin American and Caribbean (LAC) countries. However, little is known whether the ability of these countries to strengthen their global positions in trade can be affected by the pervasiveness of local corruption. The objective of this study is to analyze the impact of corruption on exports and imports in LAC countries. Our empirical results from the gravity model indicate that local corruption strongly reduces exports in the region. Thus, we conclude that LAC would be able to achieve more export growth if corruption in the region was effectively reduced.     

美国发起贸易战对江苏省进出口的影响

中美贸易摩擦发生一年多来,对两国经济乃至世界经济产生了深刻影响。本文先梳理了中美贸易摩擦的重大事件,透析了中美贸易摩擦的原因,再通过数据对江苏省受到中美贸易摩擦的影响和趋势进行深入的分析,最后为江苏省应对贸易摩擦提供一些参考建议。     

Corporate Entrepreneurship, Informal Ties, and Firm Performance: Evidence from China

How can a firm achieve superior performance through corporate entrepreneurship in a transition economy? To address this question, we draw upon the resource-based view and the institutional theory to explore distinct roles of business ties and political ties in fulfilling resource needs confronted by different corporate entrepreneurial activities (i.e., internal innovation, venturing and strategic renewal). Using data of 228 firms from the Pearl River Delta area in China, our empirical findings reveal that corporate entrepreneurial activities do not always positively lead to performance in transition economies. Furthermore, the possession of high levels of business ties is more beneficial to the success of internal innovation and strategic renewal, while the possession of high levels of political ties contributes more to the success of venturing.     

清代嘉庆之前东北农产品的输入与输出

在很长的历史时期,东北一直是农产品的输入地区,这种情况在康熙三十年前没有什么改变。康熙三十年后,随着移民的涌入,土地的开发,农产品的产量不断提高,东北终于从一个农产品的输入区转变为输出区,从而与全国的市场密切联系起来。