人民币升值对出口质量的提升效应:来自中国的微观证据  

How Does Export Quality Respond to Home Currency Appreciation:Micro-level Evidence from China

作　　者：余淼杰[1] 张睿[1] 

机构地区：[1]北京大学国家发展研究院

出　　处：《管理世界》2017年第5期28-40,共13页Journal of Management World

基　　金：国家杰出青年基金项目<国际贸易与中国经济转型发展>(71625007);国家社会科学基金重点项目<企业创新与全要素生产率提升和质量升级研究>(16AZD003);国家自然科学基金面上项目<汇率变动;产品质量;成本加成定价和加工贸易企业附加值提升>(71573006);2015年度教育部人文社科重点研究基地重大项目<产品质量;企业绩效与国际贸易研究>(15JJD780001);北京大学博士研究生才斋奖学金的资助

摘　　要：人民币升值如何影响出口企业决策?本文从出口质量的角度研究汇率变动与企业决策的关系。我们利用2000~2006年制造业企业和海关进出口贸易数据库,修正了以往的出口质量测算方法,更准确地测算出口质量。在此基础上,我们的实证证据表明,人民币升值带来的竞争压力促进了出口质量提升:10%的人民币升值使企业出口质量平均上升0.19%。我们进一步发现在质量差异化程度大的行业中,人民币升值对出口质量的提升效应为0.4%,而在质量差异化程度小的行业中该效应不明显。此外,人民币升值减少了出口企业数目,且升值对出口质量的提升效应在非核心产品及低生产率企业中更明显。本文发现了汇率变动影响企业决策的新渠道,同时也表明竞争强度是质量升级的重要决定因素。How does the CNY appreciation impact Chinese exporters? In this paper,we study the impact of exchange rate variation on firm's export quality decision.Using micro-level data of Chinese manufacturers and customs from 2000 to 2006,we estimate export quality more accurately by correcting approaches applied in previous literature.Based on the estimated export quality,we find that the appreciation of CNY intensifies the competition faced by Chinese exporters and therefore promotes their export quality upgrading behaviors: On average,10% of CNY's appreciation leads to an increase in export product quality by 0.19%.For industries with high degree of quality differentiation,the effect of 10%CNY's appreciation on export product quality increase is 0.4%,while for industries with low degree of quality differentiation this effect is insignificant.In addition,appreciation of CNY reduces exporters.We also find that quality upgrading effect is more pronounced for non-core products and less-productive exporters.We document a new mechanism through which exchange rate variation affects export decisions,and show that competition is an important driving force for product quality upgrading.

关 键 词：出口质量 人民币升值 竞争 企业生产率 

分 类 号：F752.62[经济管理—国际贸易] F832.6[经济管理—产业经济]