世界经济 ›› 2019, Vol. 42 ›› Issue (7): 46-70.

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生产性补贴与企业进口行为:来自中国制造业企业的证据

许家云1, 毛其淋2   

  1. 1. 南开大学APEC研究中心 中国特色社会主义经济建设协同创新中心;
    2. 南开大学经济学院国际经济研究所 跨国公司研究中心 中国特色社会主义经济建设协同创新中心 天津市卫津路94号南开大学 300071
  • 出版日期:2019-07-10 发布日期:2019-07-25
  • 通讯作者: 毛其淋(通讯作者),电子信箱:maoqilin@nankai.edu.cn E-mail:maoqilin@nankai.edu.cn
  • 作者简介:许家云,电子信箱:xujiayun@nankai.edu.cn
  • 基金资助:
    国家自然科学基金项目(71773055)、国家社科基金重大项目(18ZDA078)及中央高校基本科研业务费专项资金(63192144)的资助。

Productive Subsidies and Corporate Import: Evidence from Chinese Manufacturing Enterprises

Xu Jiayun1, Mao Qilin2   

  • Online:2019-07-10 Published:2019-07-25

摘要: 本文采用基于倾向得分匹配的倍差法系统评估了生产性补贴在微观企业进口中的作用。结果表明,生产性补贴不仅提高了企业进入进口市场的可能性,而且还显著促进了企业进口产品种类、进口额以及进口产品质量的提升。异质性检验发现,与外资和国有企业相比,生产性补贴对民营企业进口的积极影响最小;从进口类型来看,与纯资本品进口和混合型进口企业相比,生产性补贴对纯中间品进口企业的积极影响最大。作用机制检验表明,"融资约束缓解"是生产性补贴促进企业进口的一个重要渠道。此外,进一步考察生产性补贴通过进口对企业绩效的影响发现,该影响主要体现在进口的规模效应,进口的质量效应并不显著。

关键词: 生产性补贴, 企业进口, 倾向得分匹配, 企业绩效

Abstract: Based on Chinese firm-level micro data from 2000 to 2007, this paper combines the propensity score matching with the difference in differences (DID) technique to systematically evaluate the micro effect of productive subsidies on corporate import activities. The empirical study shows that subsidies have a positive effect on the import decision-making of Chinese manufacturing enterprises, and the value, scope and quality of such imports. The heterogeneity test shows that the effect of productive subsidies on imports of foreign-financed enterprises is bigger than that of private enterprises and state-owned enterprises, and that the positive impact on private enterprises is minimal. From the point of view of the import type, the effect of productive subsidies on imports of pure-intermediate importing enterprises is bigger than in pure-capital-importing and mixed-importing enterprises. The mediating effect analysis shows that "financing constraints easing" is an important channel for productive subsidies to promote enterprise imports. Finally, after testing the effect of imports on the process of productive subsidies by promoting the performance of enterprises, including their productivity, export value and export quality, it is found that the "scale effect" of imports is remarkable, while the "quality effect" on imports is relatively weak.

Key words: productive subsidies, imports, propensity score matching, enterprise performance

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