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Local demand and firms’ upgrading in global value chains: Evidence from China 本地需求与企业在全球价值链中的升级:来自中国的证据
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-11-09 DOI: 10.1080/09638199.2023.2279253
Ying Jiang, Dongshen Cheng
AbstractWe investigate the impacts of local-demand quantity and quality on firms’ position in global value chains, using the microdata of Chinese enterprises from 2000 to 2014. The analysis finds that both the quantity and quality of local demand can significantly promote the position of enterprises in global value chains. The quantity of local demand affects firms’ upgrading in global value chains through economies of scale, economies of scope, and the technology spill-over effect. Enterprises with the advantages of differentiation, localization, internalization, and higher capital intensity are more capable of improving their positions in global value chains through the quality of local demand. Comparing across different stages, types, and standardized regression coefficients, we find that quality rather than the quantity of local demand is more conducive to firms’ upgrading in global value chains. Furthermore, the quantity and quality of local demand have a mutually reinforcing and complementary relationship in promoting firms’ upgrading in global value chains.KEYWORDS: Local demandfirms’ upgradingglobal value chainsSubject classification codes:: C33F61L10L20 Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis work was supported by the National Social Science Fund of China [grant number 21AJL016] and Sichuan Soft Science Project [grant number 24RKX0434].
摘要本文利用2000 - 2014年中国企业微观数据,研究了本地需求数量和质量对企业全球价值链地位的影响。分析发现,本地需求的数量和质量都能显著提升企业在全球价值链中的地位。本地需求的数量通过规模经济、范围经济和技术溢出效应影响企业在全球价值链中的升级。具有差异化、本地化、内部化和更高资本密集度优势的企业更有能力通过本地需求的质量来提升其在全球价值链中的地位。通过对不同阶段、不同类型和不同标准化回归系数的比较,我们发现本地需求的质量比数量更有利于企业在全球价值链中的升级。此外,本地需求的数量和质量在促进企业在全球价值链中的升级方面具有相辅相成的关系。关键词:本地需求;企业升级全球价值链;主题分类代码::C33F61L10L20披露声明作者未报告潜在利益冲突。本研究得到国家社科基金项目[批准号:21AJL016]和四川省软科学计划项目[批准号:24RKX0434]的支持。
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引用次数: 0
Trade liberalisation and off-farm employment of the rural labour force: Evidence from China’s WTO accession 贸易自由化与农村劳动力非农就业:来自中国加入WTO的证据
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-11-06 DOI: 10.1080/09638199.2023.2278710
Fan Jiaojiao, Shi Qinghua
AbstractThis paper investigates the impact of trade liberalisation on the rural labour force in China, with a particular focus on labour mobility and off-farm employment. The analysis utilises micro data from the National Fixed Point Survey and Chinese manufacturing firms. The identification strategy relies on combining information on the initial province labour and product market structure with the exogenous tariff reduction schedule over WTO accession and distinguishes between output markets and intermediate input tariffs. The results are as follows: First, the reduction of output tariffs does not promote rural labour mobility, whereas the reduction of input tariffs has a positive impact on mobility. Additionally, output tariffs reduce off-farm employment income and time, while input tariffs increase them. This conclusion is applicable only to low-skilled labour. Second, the tariff reduction significantly affects total wages and the number of employees in firms, as supported by macro data. This suggests that tariff cuts have implications for firm employment and, consequently, rural employment. Third, tariff cuts have a more pronounced effect on young individuals, those with lower levels of education, and the female workforce. Therefore, the interests of these groups should be fully considered in the process of further import liberalisation and tariff reduction.KEYWORDS: Trade liberalisationlabour mobilityoff-farm employmentJEL CLASSIFICATIONs: F14F16J20Q10 AcknowledgementThe authors gratefully acknowledge the helpful reviews and comments from the editors and anonymous reviewers, which improved this manuscript considerably. Certainly, all remaining errors are our own.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 According to the 《Migrant Worker Monitoring Survey Report 2010》 released by the National Bureau of Statistics.Additional informationFundingThis work was supported by the following funding sources: Zhejiang Provincial Philosophy and Social Sciences Planning Project [grant number: 24NDQN17Z]; National Social Science Foundation of China [grant numbers: 22BJY011, 18ZDA045, 21&ZD077]; National Natural Science Foundation of China [grant numbers: 72173085, 71973094, 71833003]; Social Science Pre-Research Zhejiang University of Technology [grant number: SKY-ZX-20220249]; Humanities and Social Science Research Project of Zhejiang Education Department [grant number: Y202248789].
摘要本文研究了贸易自由化对中国农村劳动力的影响,特别关注劳动力流动和非农就业。该分析利用了来自全国定点调查和中国制造业企业的微观数据。识别策略依赖于将初始省份劳动力和产品市场结构的信息与加入WTO后的外生关税削减时间表相结合,并区分产出市场和中间投入关税。研究结果表明:第一,降低产出关税对农村劳动力流动没有促进作用,而降低投入关税对农村劳动力流动有正向影响。此外,产出关税减少了非农就业收入和时间,而投入关税则增加了非农就业收入和时间。这个结论只适用于低技能劳动力。其次,从宏观数据来看,关税下调对企业总工资和员工人数有显著影响。这表明关税削减会影响企业就业,进而影响农村就业。第三,关税削减对年轻人、受教育程度较低的人以及女性劳动力的影响更为明显。因此,在进一步开放进口和降低关税的过程中,应充分考虑这些群体的利益。关键词:贸易自由化;劳动力流动;非农就业;jel分类:F14F16J20Q10致谢作者感谢编辑和匿名审稿人的有益评论和意见,他们大大改进了本文。当然,所有剩下的错误都是我们自己的。披露声明作者未报告潜在的利益冲突。注1根据国家统计局《2010年农民工监测调查报告》。项目资助:浙江省哲学社会科学规划项目[批准号:24NDQN17Z];国家社会科学基金项目[批准号:22BJY011, 18ZDA045, 21和zd077];国家自然科学基金项目[资助号:72173085,71973094,71833003];浙江工业大学社会科学预研项目[批准号:SKY-ZX-20220249];浙江省教育厅人文社会科学研究项目[批准号:Y202248789]。
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引用次数: 0
Exports of intermediate goods and innovation: Evidence from China’s firms 中间产品出口与创新:来自中国企业的证据
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-11-06 DOI: 10.1080/09638199.2023.2279247
Tianding Zhang, Sumei Gan
AbstractBased on the experience of developed countries, the production and export of intermediate goods have been observed to foster innovation within firms. This study investigates whether China's export of intermediate products has significantly enhanced the independent innovation capability of China’s firms. Using microdata and patent applications as a measure of innovation, we adopt the staggered PSM-DID method to explore the influence of China’s intermediate exports on firm innovation. We find that China's export of intermediate goods positively influences firm innovation, particularly utility patents. Domestic firms benefit more from this effect than foreign firms, and medium-high technology industries experience the most significant innovation impact. The export of intermediate goods stimulates innovation through the following channels: scale economies and employment structure optimization. These findings shed light on China's evolving innovation landscape.KEYWORDS: Exports of intermediate goodsfirm innovationstaggered PSM-DIDJEL Classifications: F02F15O31 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Trade data are derived from the UN COMTRADE database.2 These are calculated by the authors from the UN database.3 This paper is mainly based on the results of the dataset from 2000 to 2007, and to ensure the robustness of this result, we also re-estimate using the period 2011–2013.4 However, one crucial issue with staggered DID is the presence of heterogeneous treatment effects, meaning that the same treatment's impact can vary among individuals. Traditional two-way fixed-effect models may introduce potential bias in such cases. To address this concern, in the robustness check conducted in this paper, we employ a method proposed by De Chaisemartin and D’Haultfœuille (Citation2020) to re-estimate the model and mitigate this problem.5 To ensure the reliability of the estimation results, the kernel matching, and Mahalanobis matching methods are also tried in the robustness analysis.6 The empirical results based on the dataset for the period 2011–2013 are shown in Appendix Table A6, which are consistent with those based on the period 2000–2007. It should be noted that we did not use TFP as a control variable when performing the robustness check, because this dataset lacks the relevant indicators for calculating TFP.Additional informationFundingThis work was supported by National Natural Science Foundation of China: [Grant Number 71673205]; the Fundamental Research Funds for the Central Universities: [Grant Number 2023YJ10501].
摘要根据发达国家的经验,人们观察到中间产品的生产和出口可以促进企业内部的创新。本研究考察了中国中间产品出口是否显著提高了中国企业的自主创新能力。本文以微观数据和专利申请作为衡量创新的指标,采用交错PSM-DID方法探讨了中国中间产品出口对企业创新的影响。研究发现,中国的中间产品出口正向影响企业创新,尤其是实用新型专利。国内企业比外资企业受益更大,中高新技术产业受到的创新影响最为显著。中间产品出口通过规模经济和优化就业结构两种途径刺激创新。这些发现揭示了中国不断变化的创新格局。关键词:中间产品出口企业创新交叉psm - dijel分类:F02F15O31披露声明作者未报告潜在利益冲突。注1贸易数据来源于联合国COMTRADE数据库这些是由作者从联合国数据库中计算出来的本文主要基于2000年至2007年数据集的结果,为了确保这一结果的稳健性,我们还使用2011 - 2013年期间进行了重新估计。然而,交错DID的一个关键问题是存在异质性处理效果,这意味着相同处理的影响可能在个体之间有所不同。在这种情况下,传统的双向固定效应模型可能会引入潜在的偏差。为了解决这一问题,在本文进行的稳健性检查中,我们采用了De Chaisemartin和D 'Haultfœuille (Citation2020)提出的方法来重新估计模型并缓解这一问题为了保证估计结果的可靠性,在鲁棒性分析中还尝试了核匹配和Mahalanobis匹配方法2011-2013年数据集的实证结果见附录表A6,与2000-2007年数据集的实证结果一致。值得注意的是,在进行稳健性检查时,我们没有使用TFP作为控制变量,因为该数据集缺乏计算TFP的相关指标。本研究由国家自然科学基金资助:[批准号:71673205];中央高校基本科研业务费专项资金[批准号2023YJ10501]。
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引用次数: 0
Country-of-origin effects on technology transfer in foreign direct investment 原产国对外国直接投资技术转让的影响
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-11-05 DOI: 10.1080/09638199.2023.2262615
Sok-Gee Chan, Wai-Mun Har, Kanagi Kanapathy, Saban Celik, Bora Aktan
AbstractThis study investigates the role of foreign direct investment (FDI) and its country-of-origin in technology transfer. Using data of 95 countries from 2008 to 2019, results indicate that net inflows of the FDI are positively related to technological transfer especially in developing countries. This is consistent with the findings that show fewer resources endowed countries benefited from advanced technologies and management know-how. Furthermore, results suggest different country-of-origin affects the technology transfer of the host economy differently. These results are consistent with studies that suggest the FDI origins are crucial to expose firms with variety of technologies and management practices. Results from quantile analysis prove that there is an existence of a threshold for the developed and developing countries to gain from the country-of-origin of the FDI. Therefore, we need to relook at the investment policies of the host countries to maximize the benefits from different sources of FDI.KEYWORDS: Foreign direct investmentcountry-of-origintechnology transfergeneralized method of momentsquantile analysisJEL Classifications: F21O14E23 Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis research is supported by Fundamental Research Grant Scheme [grant number FRGS/1/2020/SS0/UM/02/8].
摘要本研究探讨外商直接投资(FDI)及其来源国在技术转移中的作用。利用2008 - 2019年95个国家的数据,研究结果表明,FDI净流入与技术转移呈正相关,尤其是在发展中国家。这与调查结果一致,即从先进技术和管理知识中受益的资源丰富的国家较少。此外,研究结果表明,不同的原产国对东道国经济技术转移的影响不同。这些结果与一些研究一致,这些研究表明,外国直接投资的来源对企业接触各种技术和管理实践至关重要。分位数分析的结果证明,发达国家和发展中国家从外国直接投资原产国获得的收益存在一个门槛。因此,我们需要重新审视东道国的投资政策,以最大限度地利用不同来源的外国直接投资。关键词:外国直接投资原产国技术转让广义瞬时方差分析法jel分类:F21O14E23披露声明作者未报告潜在利益冲突。本研究由基础研究资助计划资助[资助号FRGS/1/2020/SS0/UM/02/8]。
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引用次数: 0
Tariff rates in gravity 重力税率
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-11-05 DOI: 10.1080/09638199.2023.2277779
Kazunobu Hayakawa, Taiyo Yoshimi
AbstractThis paper considers the case where multiple tariff schemes (e.g. general and preferential schemes) are available between trading countries. We incorporate these tariffs into gravity equations and estimate them by the Pseudo-Poisson maximum likelihood technique. The results show that omitting either tariff type leads to significant estimates biases. If fixed effects to control other tariffs are not included in the model, both preferential and general tariffs are to be introduced in the gravity equation. Indeed, some estimation results for precision metals show that reducing both types of tariffs contributes to significantly increasing trade values. However, reducing general tariffs does not always have a trade-enhancing effect. In leather products, for example, its impact was insignificant. Nevertheless, the reduction of preferential tariffs was again found to increase trade values significantly.KEYWORDS: Gravitytariffsregional trade agreementsJEL Classifications: F15F53 AcknowledgementWe would like to thank Kyoji Fukao, Norikatsu Hiraide, Naoto Jinji, Fukunari Kimura, Yoshimasa Komoriya, Hitoshi Sato, Kenta Yamanouchi, and the seminar participants at Keio University, Kangwon National University, the Economic Research Institute for ASEAN and East Asia (ERIA), the Nagoya International Economics Study Group (NIESG), the Japan Society of International Economics, the Japanese Economic Association, the Western Economic Association International (WEAI), and the Institute of Developing Economies (IDE-JETRO).Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 The earlier studies focused on trade by a single country. The examples include Trefler (Citation2004), Romalis (Citation2007), and Debaere and Mostashari (Citation2010). Also, the recent US-China trade disputes increased the number of studies on the trade effects of tariffs in the US or China (Amiti, Redding, and Weinstein Citation2019; Amiti, Redding, and Weinstein Citation2020; Fajgelbaum et al. Citation2020; Ma, Ning, and Xu Citation2021).2 Specifically, imports in Australia from the United States or Canada are approximately 50%. The share of European Union imports from Mexico is about 80%. A similar share can be found in the case of U.S. imports from Australia.3 In the empirical part, we define products at the tariff-section level, i.e., the industry level.4 Following Helpman, Melitz, and Rubinstein (Citation2008) and Helpman, Melitz, and Yeaple (Citation2004), we assume exporters pay fixed costs for products to every destination while dealing with multiple destinations simultaneously. Hence, they cannot save the total fixed costs based on economies of scale. A similar situation is assumed for the fixed cost for RTA usage. These cases are not examined to ensure the model's tractability and help develop an explicit gravity equation.5 We also employ the assumption used in Chaney (Citation2008) that the total mass of potential entrants in each country
我们可以将所有国家的工资正常化为1,因为我们采用了数字部门,并专注于所有国家都生产一些数字产品的均衡。因此,为了简单起见,我们将wit设置为1拜尔和伯格斯特兰德(Citation2009)表明,泰勒近似产生的系数估计值几乎与从无偏非线性过程中获得的估计值相同。参见Anderson, Vesselovsky和Yotov (Citation2016)以及Behar和Nelson (Citation2014)在引力方程推导中应用泰勒近似方程(5)(5)ln (Tijht) = ln (T¯h+ΔτM(ln (τ jhtm) - ln (τ¯hM)+ΔτR(ln (τ ijhtr - ln (τ¯hR))+Δρ(ln (ρijh - ln (ρ¯h))+Δf(ln (fijh - ln (f¯h))+ΔfR(ln (fijhR) - ln (f¯hR)),(5)的系数定义和符号在附录A4.15中给出。在通常的重力研究中,如Feenstra (Citation2002),通过多边阻力的第三国效应通过我们包括进口国家-年固定效应来控制从理论上讲,关税变量的系数在不同的国家和产品之间应该是不同的。然而,我们不区分这些和估计平均量级。17 http://www.cepii.fr/CEPII/en/welcome.asp.18正如Teti (Citation2020)所指出的,WITS数据库中有一些可以改进的地方,包括数据缺失和误报。我们将丢失的关税与最近的先前观察相等,但不解决误报问题我们的研究期间不包括大流行时期,当时许多国家实施了各种贸易限制措施其他行业的估算结果见附录b的表B2。附加信息经费支持:【资助号:中央大学专项研究资助】;日本科学促进会[资助号JP17H02530和JP20H01518]。
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引用次数: 0
Asymmetric trade uncertainty-environmental quality nexus: evidence from quantile estimation 不对称贸易不确定性-环境质量关系:来自分位数估计的证据
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-11-01 DOI: 10.1080/09638199.2023.2271571
Zeyi Yu, Raima Nazar, Sajid Ali
AbstractTrade uncertainty leads to fluctuations in global trade dynamics and their potential impacts on environmental conditions, prompting concerns about how trade policies and practices may influence environmental sustainability and pollution levels. The present investigation desires to probe the correlation between trade uncertainty and environmental quality in the top 10 economies known for high levels of trade uncertainty (the USA, China, the UK, Japan, South Korea, Italy, Germany, France, Spain, and Australia). Previous studies have consistently explored this relationship using panel data analysis, which uncovered distinct and separate correlations in specific countries. The existing work applies a distinctive tool, ‘Quantile-on-Quantile’, to analyze the interdependence of time series data within all nations. The outcomes of this research disclose that trade uncertainty predominantly has a positive impact on environmental quality in most nations, particularly within particular segments of the distribution of data. Furthermore, this research highlights the diverse levels of asymmetries in the correlation between these variables across distinct countries. In addition, the outcomes demonstrate that the extent of asymmetry between the variables varies from one economy to another, underscoring the importance for policymakers to exercise careful emphasis when executing trade-related uncertainty and environmental sustainability policies.KEYWORDS: Trade uncertaintyCO2 emissionsquantile estimationJEL CLASSIFICATIONS: F18F1F Disclosure statementNo potential conflict of interest was reported by the author(s).
摘要贸易的不确定性导致全球贸易动态的波动及其对环境条件的潜在影响,促使人们关注贸易政策和做法如何影响环境可持续性和污染水平。本研究旨在探讨以高贸易不确定性著称的十大经济体(美国、中国、英国、日本、韩国、意大利、德国、法国、西班牙和澳大利亚)的贸易不确定性与环境质量之间的相关性。以前的研究一直使用面板数据分析来探索这种关系,发现了特定国家之间独特而独立的相关性。现有的工作采用了一种独特的工具,“分位数对分位数”,来分析所有国家时间序列数据的相互依赖性。本研究的结果表明,在大多数国家,贸易不确定性对环境质量具有主要的积极影响,特别是在数据分布的特定部分。此外,这项研究强调了不同国家这些变量之间相关性的不同程度的不对称。此外,结果表明,变量之间的不对称程度因经济体而异,这强调了政策制定者在执行与贸易相关的不确定性和环境可持续性政策时谨慎强调的重要性。关键词:贸易不确定性;二氧化碳排放分值估算;jel分类:F18F1F披露声明作者未报告潜在利益冲突。
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引用次数: 0
The causality relationship between income inequality, debt, and economic growth in Sub-Saharan African countries 1 撒哈拉以南非洲国家收入不平等、债务和经济增长之间的因果关系
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-11-01 DOI: 10.1080/09638199.2023.2274854
Wilkista Lore Obiero, Seher Gülşah Topuz
AbstractThis study aims to investigate the direction of causality between income inequality and growth, income inequality and debt, and debt and growth for 11 selected countries in SSA countries (Botswana, Ghana, Kenya, Lesotho, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zambia). The panel bootstrap causality approach is applied to these countries from 1980 to 2018. Inequality is represented using Gini coefficient, Palma ratio, and Theil index. The findings show that there is at least a one-way causal relationship between public debt and inequality in Botswana, Ghana, Kenya, Malawi, Nigeria, Rwanda, South Africa, Tanzania, and Uganda, between inequality and growth in Botswana, Lesotho, Nigeria, and South Africa and between growth and debt in Botswana, Rwanda, South Africa, and Uganda. Empirical results imply that the relations between the relevant variables in the Sub-Saharan African countries may vary according to the specific characteristics of these countries. To the best of our knowledge, this is the first paper to analyse the impact of these three macroeconomic variables together.KEYWORDS: Income inequalitypublic debteconomic growthpanel bootstrap causality approachJel Classifications: C1D3H63010 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Odusola et al. (Citation2017) states that more than half of the 19 most unequal countries in the world are in Sub-Saharan Africa (hereafter SSA).2 SSA countries refers to countries in Sub Sahara Africa.3 Investing debt in nonproductive activities like war can lead to debt distress whereby there is accumulation of unpaid debts, and the country is unable to fulfill all its obligations including interest rate repayment.4 According to Seery, Okanda, and Lawson (Citation2019) Africa is the second most unequal continent in the world with the five richest men in Africa owning more wealth than the bottom 50% combined.5 The list of SSA countries considered in this study include Botswana, Ghana, Kenya, Lesotho, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zambia. The selection of the countries is because they are representative of the different income groups in SSA covering countries in the low-income, lower-middle and upper-middle-income country classifications. This ensures that a wide range of economic conditions are represented and allow for easier cross-country comparisons. By studying countries from each income group, we can gain insights into the unique challenges and opportunities each group faces, and how these factors interact with public debt and economic growth.6 Asongu (Citation2013) examines domestic, foreign, private and public investments separately and whether they effect income-inequality through financial intermediary dynamics.7 Due to data availability and verifiability of the macroeconomic variables considered, the period has been limited to 1980-2018 (1990-2018 for Gini). The main databases available containing ine
摘要本研究选取SSA国家中的11个国家(博茨瓦纳、加纳、肯尼亚、莱索托、马拉维、尼日利亚、卢旺达、南非、坦桑尼亚、乌干达和赞比亚),探讨收入不平等与增长、收入不平等与债务、债务与增长之间的因果关系方向。面板自举因果关系法应用于1980年至2018年的这些国家。不平等用基尼系数、帕尔马比率和泰尔指数表示。研究结果表明,博茨瓦纳、加纳、肯尼亚、马拉维、尼日利亚、卢旺达、南非、坦桑尼亚和乌干达的公共债务与不平等之间至少存在单向因果关系,博茨瓦纳、莱索托、尼日利亚和南非的不平等与增长之间存在单向因果关系,博茨瓦纳、卢旺达、南非和乌干达的增长与债务之间存在单向因果关系。实证结果表明,撒哈拉以南非洲国家的相关变量之间的关系可能会根据这些国家的具体特征而有所不同。据我们所知,这是第一篇分析这三个宏观经济变量共同影响的论文。关键词:收入不平等;公共债务;经济增长;面板引导因果关系法;分类:C1D3H63010披露声明作者未报告潜在的利益冲突。注1 Odusola等人(Citation2017)指出,世界上19个最不平等的国家中有一半以上位于撒哈拉以南非洲(以下简称SSA)SSA国家是指撒哈拉以南非洲的国家。3将债务投资于非生产性活动,如战争,可能导致债务困境,由此产生未付债务的积累,国家无法履行包括利息偿还在内的所有义务根据Seery, Okanda和Lawson (Citation2019)的研究,非洲是世界上第二不平等的大陆,非洲最富有的五个人拥有的财富超过了底层50%人口的财富总和本研究中考虑的SSA国家包括博茨瓦纳、加纳、肯尼亚、莱索托、马拉维、尼日利亚、卢旺达、南非、坦桑尼亚、乌干达和赞比亚。之所以选择这些国家,是因为它们代表了SSA中低收入、中低收入和中高收入国家分类的不同收入群体。这确保了广泛的经济状况的代表性,并允许更容易的跨国比较。通过研究不同收入群体的国家,我们可以深入了解不同收入群体面临的独特挑战和机遇,以及这些因素如何与公共债务和经济增长相互作用Asongu (Citation2013)分别研究了国内、国外、私人和公共投资,以及它们是否通过金融中介动态影响收入不平等由于数据的可用性和所考虑的宏观经济变量的可验证性,这一时期被限制在1980-2018年(基尼系数为1990-2018年)。现有的包含不平等信息的主要数据库,包括SWIID和WIID,存在差距,特别是对于研究中考虑的SSA国家。为了便于比较,使用了同一时间段内同一数据库的数据帕尔马比率的计算方法是将收入最高的10%的人口在国民总收入中所占的份额除以收入最低的40%的人口收入。
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引用次数: 0
Centralized decision strategy in ownership investments and export policy 所有权投资与出口政策的集中决策策略
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-27 DOI: 10.1080/09638199.2023.2271083
Ku-Chu Tsao, Yan-Shu Lin, Yen-Ju Lin
AbstractThis research explores the optimal export policy of a domestic industry characterized by numerous multinational enterprises (MNEs) co-existing with cross-border ownership investments in foreign firms and exports to a foreign country. We demonstrate that the optimal export policy depends on whether MNEs make centralized or decentralized decisions in ownership investments. With decentralized decision-making, the optimal export policy can be either a subsidy or a tax, while with centralized decision-making, it is a tax. Furthermore, we examine how the optimal trade policy responds to the optimal strategy of centralized decision-making by MNEs. Our results show that under certain circumstances, the optimal trade policy is an export subsidy, and MNEs prefer to voluntarily relinquish centralized decision-making, even when they have the option to control the production levels of foreign partner firms.KEYWORDS: Centralized decisiondecentralized decisioncross-border ownershipstrategic trade policyJEL classifications: F12F13F23 Disclosure statementNo potential conflict of interest was reported by the author(s).FundingWe are grateful to seminar participants at NTU TradeWorkshop for their valuable comments, leading to substantial improvements of this paper. The usual disclaimer applies.Notes1 Please see the website for the more details: https://asia.nikkei.com/NAR/Articles/China-s-Geely-Group-Acquires-9.7-Stake-In-Daimler-Via-Open-Market-Purchases.2 Farrell and Shapiro (Citation1990) analyze horizontal mergers in a Cournot oligopoly, Gilo, Moshe, and Spiegel (Citation2006) spotlight the importance of asymmetric costs, Ishikawa, Sugita, and Zhao (Citation2009) take technology transfer into account, and Cho, Kim, and Lee (Citation2022) consider a free licensing strategy with passive ownership and investigate the interaction with an ex-post privatization policy.3 Please refer to Kawabata (Citation2010), Ghosh and Saha (Citation2015), Fanti and Buccella (Citation2016), Choi, Lee, and Lim (Citation2017), Tsao et al. (Citation2019), etc.4 There are several papers that employ a similar definition of financial interest, referring to the right to receive the stream of profits generated by the firm from its operations and investments, such as Das (Citation1997), Wang and Wang (Citation2011), and Cho, Kim, and Lee (Citation2022).5 Spencer and Jones (Citation1991; Citation1992) look at trade policies in a vertically-related market from the viewpoint of importing and exporting countries, respectively, noting that the policy implication may not be the same.6 If the two goods are homogeneous, then a domestic MNE will stop either exports or CBO investment.7 We have xh∗=−(1−r)(m+n)−(1−rk)−s(m+n+1)−n[(2−r2k)+(m+n)(1−r2)]−(m+1)>0 and yh∗=yf∗=rn(1+s)−(n+1)−n[(2−r2k)+(m+n)(1−r2)]−(m+1),where yh∗>0 if r≤r¯≡n+1n(1+s) for any s.8 The first two terms of the foreign ownership effect in (6) also imply the cannibalization between the good produced by an MNE and the good produce
摘要本研究探讨了以众多跨国企业(MNEs)共存为特征的国内产业的最优出口政策,这些跨国企业在外国公司进行跨境所有权投资并向外国出口。我们证明了最优的出口政策取决于跨国公司在所有权投资方面是采取集中决策还是分散决策。在分权决策下,最优出口政策可以是补贴或税收,而在集中决策下,最优出口政策是税收。此外,我们考察了最优贸易政策如何响应跨国公司集中决策的最优策略。研究结果表明,在特定情况下,最优贸易政策是出口补贴,即使跨国公司可以选择控制外国合作伙伴公司的生产水平,它们也更愿意自愿放弃集中决策。关键词:集中式决策、分散式决策、跨境所有权、战略性贸易政策jel分类:F12F13F23披露声明作者未报告潜在利益冲突。我们非常感谢南洋理工大学贸易研讨会的与会者提供的宝贵意见,使本文得到了实质性的改进。通常的免责声明适用。注1详情请浏览网站:https://asia.nikkei.com/NAR/Articles/China-s-Geely-Group-Acquires-9.7-Stake-In-Daimler-Via-Open-Market-Purchases.2 Farrell和Shapiro (Citation1990)分析了古诺寡头垄断中的横向合并,Gilo, Moshe和Spiegel (Citation2006)强调了不对称成本的重要性,Ishikawa, Sugita和Zhao (Citation2009)考虑了技术转移,Cho, Kim,和Lee (Citation2022)考虑了被动所有权的免费许可策略,并调查了与前后私有化政策的相互作用请参阅川端康成(Citation2010), Ghosh和萨哈(Citation2015),范蒂和Buccella (Citation2016),崔Lee和Lim (Citation2017),陶et al。(Citation2019) etc.4有几个论文采用类似的经济利益的定义,指的是对获得的利润产生的运作和投资的公司,如Das (Citation1997)、王、王(Citation2011),和赵,金姆,李(Citation2022)。5斯宾塞和琼斯(Citation1991;引文(1992)分别从进口国和出口国的角度考察垂直相关市场的贸易政策,并指出政策含义可能不一样如果两种商品是同质的,那么国内跨国公司将停止出口或CBO投资我们有xh∗=−(1−r) (m + n)−1−rk) (m + n + 1)−−s n[(2−r2k) + (m + n)(1−r2)]−(m + 1) > 0和yh∗rn = yf∗= (1 + s)−−(n + 1) n[(2−r2k) + (m + n)(1−r2)]−(m + 1),在yh∗如果≤r > 0¯≡n + 1 n s.8 (1 + s)(6)中外资所有权效应的前两个术语也意味着跨国公司生产的产品与其合作伙伴公司生产的产品之间的相互蚕食。然而,这种内部自相残杀是由持股推动的。因此,我们将这两个术语定义为外资所有权效应的组成部分定义ds/dk=G(r,k,m,n)对于任意(k, n, m),当r = 0或r = 1时,我们有G = 0。由于(dG/dr)|r = 0 > 0, (dG/dr)|r = 1 < 0,对于任意n和m,这表明当r∈[0,1]时,G总是正的。因此,我们有ds * /dk > 0.10。我们非常感谢审稿人提出这一点有关详情,请参阅网上附录。
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引用次数: 0
Can the coordinated development of two-way FDI promote carbon emission reduction? Evidence from industrial sectors in China 双向FDI的协调发展能否促进碳减排?来自中国工业部门的证据
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-27 DOI: 10.1080/09638199.2023.2275162
Yi Qiu, Hui Hu, Jianjun Wu
AbstractIn this study, the panel data of 34 industrial sectors are selected from 2004 to 2019 in China and empirically tested the carbon emission reduction effect and its transmission path during the coordinated development of two-way FDI. The results show that the coordinated development of two-way FDI in China's industrial sector had a significant but heterogeneous carbon emission reduction effect. The coordinated development of two-way FDI in high-yield scale groups, low-energy-consumption industries and high-tech industries had a stronger inhibitory effect on carbon emissions. When the coordinated development level of two-way FDI in China's industrial sector was high, its carbon emission reduction effect was more significant. After the Belt and Road Initiative was put forward in 2013, the carbon emission reduction effect of the coordinated development of two-way FDI in China's industrial industry was stronger. The mechanism test results showed that the coordinated development of two-way FDI in China's industrial sector mainly affected domestic carbon emissions through three transmission paths: scale, structure, and technology effects. Of these, the scale effect was positive, and the structure and technology effects were negative.KEYWORDS: Coordinated development of two-way FDIcarbon emission reductionsimultaneous equation modelsChina's industrial sectorsJEL Classifications: A10A1A Disclosure statementNo potential conflict of interest was reported by the author(s).Credit author statementAll the authors contributed to the study conception and design. Material preparation and data collection and analysis were performed by Y.Q., H.H. and J.W. The first draft of the manuscript was written by H.H. All authors have read and agreed to the published version of the manuscript.Data availabilityData will be made available on request.Additional informationFundingThis work was supported by the Hunan Provincial Philosophy and Social Science Planning Fund under Grant number 21ZDAJ007 and Collaborative Innovation Center for Emissions Trading system Co-constructed by the Province and Ministry under Grant number 22CICETS-ZD010 and 22CICETS-YB027.
摘要本研究选取2004 - 2019年中国34个产业部门的面板数据,实证检验双向FDI协调发展过程中的碳减排效应及其传导路径。研究结果表明,中国工业部门双向FDI协调发展具有显著但异质性的碳减排效应。双向FDI在高产规模集团、低能耗产业和高技术产业的协同发展对碳排放的抑制作用更强。中国工业部门双向FDI协调发展水平越高,其碳减排效果越显著。2013年“一带一路”倡议提出后,中国工业行业双向FDI协调发展的碳减排效果更强。机制检验结果表明,中国工业部门双向FDI协调发展主要通过规模效应、结构效应和技术效应三种传导路径影响国内碳排放。其中,规模效应为正,结构和技术效应为负。关键词:双向碳减排协调发展联立方程模型中国工业部门分类:A10A1A披露声明作者未报告潜在利益冲突。所有作者都对研究的构思和设计做出了贡献。材料准备和数据收集和分析由Y.Q, H.H.和J.W.完成。手稿的初稿由H.H.撰写。所有作者都已阅读并同意手稿的出版版本。数据可得性应要求提供数据。项目资助:湖南省哲学社会科学规划基金(项目号:21ZDAJ007)和省部共建碳排放交易体系协同创新中心(项目号:22CICETS-ZD010和22CICETS-YB027)。
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引用次数: 0
Foreign direct investment, human capital and export diversification in Africa: A panel smooth transition regression (PSTR) model analysis 外国直接投资、人力资本与非洲出口多样化:面板平滑过渡回归(PSTR)模型分析
3区 经济学 Q1 Economics, Econometrics and Finance Pub Date : 2023-10-12 DOI: 10.1080/09638199.2023.2265496
Yao Nukunu Golo
AbstractThis paper investigates the role of local human capital in facilitating the export diversification improvement effect of foreign direct investment (FDI) in African countries. To this end, we use a panel smooth transition regression (PSTR) model which is able to deal with the heterogeneity issue associated with the cross-country data. Based on a sample of 30 African countries over the period 1996–2019, the results show that there is a minimum threshold of human capital beyond which the export diversification enhancing effect of FDI is unlocked in African countries. In other words, only countries located above a certain threshold of human capital benefit from the positive effect of FDI on export diversification. These results suggest that policymakers in African countries should focus on improving the conditions for acquiring local human capital (education and health) in order to extract economic gains from FDI.KEYWORDS: Foreign direct investmentexport diversificationhuman capitalpanel smooth transition regressionAfricaJEL Classifications: F21C23O55 Disclosure statementNo potential conflict of interest was reported by the author(s).Data availability statementThe data that support the findings of this study are available in the various databases: UNCTAD, World Development Indicators (WDI), World Bank's World Governance indicators (WGI), Penn World Table, and Conference Board Total Economy Database.Notes1 Compiled in WIR, 2018 from UNCTAD, FDI/MNE database.2 Coffee, cocoa, oil from Côte d'Ivoire; gold, cocoa and oil from Ghana; uranium from Niger; gold and cotton from Mali and Burkina Faso; bauxite from Guinea; oil from Nigeria, Angola, Congo, Gabon, Chad; diamonds from Botswana, Sierra Leone etc. … .3 OLI Ownership (the company's specific asset holdings), Location (the advantages or conditions offered by host countries) and Integration (the comparison between internationalization and exporting in terms of costs and benefits for the relocating company).4 The main determinants identified are: size, resource wealth, trade, market access, trade costs, FDI, human capital, public investment and spending, exchange rate misalignment, terms of trade, financial market development, infrastructure, and institutional quality5 Hj=(∑i=1N⁡(Xi,j/Xj)2−1/N/1−1/N) where Hj is the export product concentration index for country j, Xi,j is the value of exports of product i by country j, Xj is the value of global exports by country j, and N is the total number of products exported.6 The six institutional quality indicators used include the rule of law (LAW), regulatory quality (REQ), governance effectiveness (GOV), corruption control (CORR), political stability (POS) and voice and accountability (VOA)7 According to Blundell and Bond (Citation1998), the GMM in-difference estimator can be non-convergent and biased, as the application of the estimator's moment conditions poses a number of problems, namely: the weakness of the instruments chosen, and the elimination of
摘要本文研究了当地人力资本在促进非洲国家外国直接投资(FDI)出口多样化改善效应中的作用。为此,我们使用面板平滑过渡回归(PSTR)模型,该模型能够处理与跨国数据相关的异质性问题。基于1996-2019年30个非洲国家的样本分析结果表明,非洲国家存在一个人力资本的最低门槛,超过该门槛,FDI的出口多元化促进效应就会释放出来。换句话说,只有人力资本超过某一阈值的国家才能从外国直接投资对出口多样化的积极影响中受益。这些结果表明,非洲国家的决策者应注重改善获取当地人力资本(教育和卫生)的条件,以便从外国直接投资中获取经济收益。关键词:外国直接投资;出口多元化;人力资本;平稳过渡回归;数据可用性声明支持本研究结果的数据可在各种数据库中获得:贸发会议、世界发展指标(WDI)、世界银行世界治理指标(WGI)、宾夕法尼亚大学世界表和世界大型企业联合会经济总量数据库。注1根据联合国贸发会议、FDI/MNE数据库编制,2018年WIR数据咖啡、可可、产自Côte科特迪瓦的油;来自加纳的黄金、可可和石油;来自尼日尔的铀;马里和布基纳法索的黄金和棉花;几内亚铝土矿;尼日利亚、安哥拉、刚果、加蓬、乍得的石油;3 .所有权(公司持有的具体资产)、区位(东道国提供的优势或条件)和整合(对搬迁公司而言,国际化和出口之间的成本和收益比较)确定的主要决定因素有:所使用的六个制度质量指标包括法治(law)、监管质量(REQ)、治理效率(GOV)、腐败控制(CORR)、政治稳定(POS)和发言权和问责制(VOA)。根据布伦德尔和邦德(Citation1998)的观点,GMM的差异估计量可能是不收敛的和有偏差的,因为估计量的矩条件的应用会带来一些问题,即:所选工具的弱点,以及通过首次区分消除国家间的差异。为了解决这些问题,Blundell和Bond (Citation1998)开发了带有附加力矩条件的GMM系统估计器。由Arellano和Bover (Citation1995)以及Blundell和Bond (Citation1998)开发的GMM估计器解决了内生性问题,并允许动态规范。
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引用次数: 0
期刊
Journal of International Trade & Economic Development
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