贸易信贷、产品多样性与企业中间品进口  

Trade Credit, Product Diversity and Intermediates Import

作　　者：武力超[1] 林澜 叶涛 黄颖 WU Lichao;LIN Lan;YE Tao;HUANG Ying(Xiamen University,Xiamen 361005;University of International Business and Economics,Beijing 100029)

机构地区：[1]厦门大学经济学院,福建厦门361005 [2]对外经济贸易大学国际经济贸易学院,北京100029

出　　处：《首都经济贸易大学学报》2020年第3期31-45,共15页Journal of Capital University of Economics and Business

基　　金：国家社会科学基金青年项目“金融生态环境与技术创新空间集聚效应的机制研究与对策建议”(15CJL052);厦门大学中央高校基本科研业务费专项资金项目“厦门大学人文社科创新团队”(20720171001);教育部人文社会科学重点研究基地重大项目“新形势下两岸经济融合发展的动力机制研究”(16JJD790036)。

摘　　要：基于世界银行中国企业调研数据,采用赫克曼两阶段选择模型从行业异质性和地区异质性视角实证考察贸易信贷对企业中间品进口行为的影响。结果表明,贸易信贷显著促进企业对中间品进口的选择和中间品进口数量的增加,且在产品多样化、小企业份额大、成长机会高及对外部融资依赖程度越高的行业中,作用效果更大。分样本结果说明,相比于未能获得银行信贷的企业,那些因本身资信良好从而获得银行信贷的企业具有更强的竞争力,如生产率等方面的领先,而贸易信贷对其促进作用也因此更明显。地区金融生态环境对进口行为影响的分析结论表明,金融服务发展水平越高,贸易信贷更能有效促进企业中间品进口。Based on the World Bank survey data of Chinese enterprises,this paper uses the Heckman two-stage selection model to empirically investigate the impact of trade credit on the import behavior of enterprises’intermediates from the perspective of industry heterogeneity and regional heterogeneity.The results show that trade credit significantly promotes enterprises’choice of intermediates import and increases the quantity of intermediates import,and plays a more important role in the industries of product diversification,large share of small enterprises,high growth opportunity and higher dependence on external financing.The results of the subsample show that,compared with those enterprises that fail to obtain bank credit,those enterprises that obtain bank credit due to their good credit standing have stronger competitiveness,such as leading in productivity and other aspects.So trade credit has a more obvious promoting effect on such enterprises.Then,the analysis of the impact of regional financial ecological environment on import behavior shows that with a higher level of financial development,trade credit can more effectively promote the import of intermediate products.

关 键 词：贸易信贷 产品多样性 中间品进口 赫克曼(Heckman)两阶段选择模型 金融生态环境 

分 类 号：F752[经济管理—国际贸易]