摘要
本文将2000—2013年中国县(区)级地方政府融资平台和中国制造业企业数据进行匹配,运用双重差分法考察地方政府融资平台对企业出口国内附加值率的影响。研究表明:在样本期内,地方政府融资平台的成立有助于提升企业出口国内附加值率;在考虑企业所处区域不同特征以及企业所有制性质差异、偿债能力高低等情况下,地方政府融资平台对企业出口国内附加值率的影响具有显著异质性;此外,信贷挤出引致的成本上升效应,产业集聚引致的生产率提升效应和资源再配置效应是影响企业出口国内附加值率的重要传导渠道,且生产率提升的正向效应超过了成本上升的负向效应。因此,推动地方政府融资平台向市场化转型,发挥地方政府融资平台在金融、产业资源再配置过程中的重要作用是提升企业出口国内附加值率的有效途径。
This paper matched the data of local government financing platforms with Chinese manufacturing firms at the county( district) level during 2000 and 2013,and examined the impact of local government financing platforms on the domestic value-added rate( DVAR) in firms’ exports using a difference-in-difference method. The study shows that the establishment of the local government financing platform helps to improve the DVAR in firms’ exports during the sample period. Significant heterogeneity exists in the effect of local government financing platforms on the DVAR in exports,considering the different characteristic of regions where enterprises are located,as well as the nature of ownership and the debt paying ability of enterprises. In addition,the cost-raising effect due to credit crowding out,the productivity improvement effect caused by industrial agglomeration,and the resource reallocation effect are important channels affecting the firms’ DVAR in exports,and the positive effect of productivity-rising outweighs the negative effect of cost-rising. Therefore,promoting the market-oriented transformation of local government financing platforms and enhancing the important role of local government financing platforms in the process of financial and industrial resource reallocation are effective ways to improve the DVAR in firms’ exports.
作者
张兵兵
闫志俊
周君婷
ZHANG Bingbing;YAN Zhijun;ZHOU Junting
出处
《国际贸易问题》
CSSCI
北大核心
2021年第12期82-100,共19页
Journal of International Trade
基金
国家自然科学基金重点项目“我国粮食供需格局演变与开放条件下的粮食安全政策研究”(71934005)
国家社科基金一般项目“双循环赋能中国经济高质量发展的实践路径研究”(21BJL102)
江苏省社科研究基地一般项目“后疫情时代全球价值链波动与创新链重构研究”(20JD007)。
关键词
地方政府融资平台
出口国内附加值率
成本上升效应
生产率提升效应
资源再配置效应
Local Government Financing Platforms
Domestic Value-added Rate in Exports
Cost-rising Effect
Productivity Improvement Effect
Resource Reallocation Effect
