摘要
本文基于金融供给地理结构视角,利用企业和银行分支机构地理位置信息测度企业周边一定半径内的银行分支机构数目,探讨银行分支机构扩张对企业出口国内附加值率的影响及其机制。研究发现,银行分支机构扩张显著提升了企业出口国内附加值率。影响机制结果显示,经由“银行竞争”和“银企距离”的传导路径,银行分支机构扩张通过发挥创新促进效应影响企业出口国内附加值率。制度环境强化了银行分支机构扩张对企业出口国内附加值率的促进效果,而市场分割不利于银行分支机构扩张对企业出口国内附加值率的提升。异质性结果表明,银行分支机构扩张对非纯加工贸易企业、民营企业、高银行业投入比例行业企业和处于全球价值链中低端行业企业的出口国内附加值率提升具有更强的促进效果。在动态分解地区出口国内附加值率的基础上,本文还证实了资源再配置效应是银行分支机构扩张影响地区出口国内附加值率的重要渠道。本文的研究为提高企业出口附加值获取能力、打造贸易强国以及深化金融供给侧改革提供一定的政策启示。
Based on the perspective of the geographic structure of financial supply,this article measures the number of bank branches within a certain radius around the firm using the geographic location information of firms and bank branches and explores the effects and mechanism of bank branch expansion on firms’ export DVAR.This study found that the expansion of bank branches significantly increased the firm’s export DVAR.The mechanism tests show that through the transmission paths of “bank competition” and “bank-firm distance”,expansion of bank branches has positively increased the firm’s export DVAR by exerting an innovation promotion effect.The moderating effect tests based on the institutional environment and market segmentation show that the institutional environment has strengthened the effect of bank branch expansion on firms’ export DVAR,while market segmentation is not conducive to the improvement of the firm’s export DVAR caused by the expansion of bank branch.Heterogeneity analysis shows the expansion of bank branches has a stronger effect on the promotion of firm’s export DVAR of firms not fully engaged in processing trade,private firms,and firms in the industry of high financial intermediate investment ration and the industry of low-end in the global value chain.Based on the dynamic decomposition of the domestic value-added rate of regional exports,it is confirmed that the effect of resource reallocation is an important channel for the expansion of bank branches to affect the domestic value-added rate of regional exports.This article provides certain policy implications for improving the ability of enterprises to obtain added value from exports,building a strong trade country,and deepening the financial supply-side reform.
作者
盛斌
王浩
SHENG Bin;WANG Hao(School of Economics,Nankai University,Tianjin 300071,China)
出处
《中国工业经济》
CSSCI
北大核心
2022年第2期99-117,共19页
China Industrial Economics
基金
教育部人文社会科学重点研究基地重大项目“全球经济治理、国际贸易投资新规则与中国开放型经济新体制研究”(批准号20JJD790003)
文化名家暨“四个一批”人才自主选题项目“全球价值链背景下国际经济规则的重构及中国的角色”的资助。
关键词
银行分支机构扩张
出口国内附加值率
金融供给地理结构
资源再配置
expansion of bank branches
domestic value-added rate of firms’exports
geographical structure of financial supply
resource reallocation
