服务业对外开放、人民币实际汇率和出口企业加成率  

Service Opening,RMB Exchange Rate and Export Firms’Markups

作　　者：韩民春[1] 袁瀚坤 HAN Minchun;YUAN Hankun

机构地区：[1]华中科技大学经济学院

出　　处：《国际贸易问题》2022年第1期75-92,共18页Journal of International Trade

基　　金：国家社会科学基金重点项目“工业机器人替代与中国就业市场的失衡和再平衡问题研究”(17AJY007)。

摘　　要：本文通过将服务要素和汇率波动引入拓展的MO理论模型,并使用2001—2013年中国工业企业数据库和中国海关数据库匹配的样本研究了服务业对外开放对出口企业加成率的影响。研究结果表明:服务业对外开放显著提升了出口企业加成率,但人民币升值减弱了服务业开放的正面影响,该结论在经过工具变量法、替换变量等一系列稳健性检验后依然成立;服务业对外开放对技术密集型企业、非垄断企业、加工和非加工贸易企业加成率的提升作用明显,但随着人民币升值该促进作用逐渐减弱;服务业对外开放通过提升产品质量促进出口企业加成率,人民币升值通过价格效应抑制出口企业加成率;服务业对外开放和人民币升值均显著降低了加成率离散程度,优化了资源配置;服务业对外开放通过资源再配置效应提升了行业加成率。This paper introduces service elements and exchange rate fluctuations into the extended MO model,and uses Chinese firm-level data from National Bureau of Statistics of China and Chinese customs data over the period of 2001-2013 to study the effect of service opening on export firms’markups.We find that the service opening significantly improves the markups of export firms,but the appreciation of RMB weakens the positive impact of the service opening.This conclusion is still valid after a series of robustness tests including the method of instrumental variables and change of variables.Heterogeneity research results show that service opening has a more significant improving effect on technology-intensive exporters,non-monopoly exporters,processing and non-processing exporters,but such effect is decreasing by the RMB appreciation.Moreover,mechanism test shows that service opening promotes the markups of export firms by improving product quality and RMB appreciation inhibits export firms’markups by price effect.Further analysis reveals that both the service opening and the appreciation of RMB significantly reduce the dispersion of markups and optimize the allocation of resources,and the service opening improves the markups through the resource reallocation effect.

关 键 词：服务业对外开放 出口企业 加成率 人民币实际汇率 

分 类 号：F740[经济管理—国际贸易]