灯光暗淡,出口下降:考察电力短缺对中国制造业企业的贸易影响

IF 5.2 1区 经济学 Q1 ECONOMICS 中国经济评论 Pub Date : 2024-09-02 DOI:10.1016/j.chieco.2024.102270
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引用次数: 0

摘要

虽然现有研究广泛调查了需求冲击对出口表现的影响,但对理解供应方投入冲击的贸易影响的关注却很有限。利用城市一级的电力短缺指数和 2006 年至 2014 年中国制造业的企业级数据,我们提供了电力短缺对出口绩效产生显著负面影响的新证据。在采用其他测量方法和解决内生性问题时,这一发现仍然是稳健的。此外,我们还发现,电力短缺抑制了企业的库存和创新活动,而这些活动与出口绩效息息相关。异质性检验显示,电力短缺对国有企业、内陆地区企业和高耗能行业的影响并不显著。此外,我们的研究结果表明,电力短缺只影响出口的密集边际,而不是广泛边际。这项研究为政策制定者和管理者提供了有价值的见解,有助于他们制定战略来减轻电力短缺的不利影响。
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Lights dim, exports down: Examining the trade effects of power shortages on Chinese manufacturing firms

While existing research extensively investigates the repercussions of demand shocks on export performance, limited attention has been given to understanding the trade implications of supply-side input shocks. Utilizing a city-level power shortage index and firm-level data from 2006 to 2014 for the Chinese manufacturing sector, we provide novel evidence of a significant negative impact of power shortages on export performance. This finding remains robust across alternative measurements and in addressing endogeneity concerns. Furthermore, we find that power shortages curtail firms' inventory and innovation activities, which are linked to export performance. Heterogeneity tests reveal insignificant impacts on state-owned firms, those in inland areas and high-energy-consuming industries as well. Additionally, our findings indicate that power shortages exclusively affect the intensive margins of exports rather than the extensive margins. This research offers valuable insights for policymakers and managers in devising strategies to mitigate the adverse effects of power shortages.

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来源期刊
中国经济评论
中国经济评论 ECONOMICS-
CiteScore
10.60
自引率
4.40%
发文量
380
期刊介绍: The China Economic Review publishes original works of scholarship which add to the knowledge of the economy of China and to economies as a discipline. We seek, in particular, papers dealing with policy, performance and institutional change. Empirical papers normally use a formal model, a data set, and standard statistical techniques. Submissions are subjected to double-blind peer review.
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