外资银行进入是否影响了中国企业进口?  

Does Foreign Banks'Entry Influence the Import Behaviors of Chinese Firms?

作　　者：毛其淋[1] 赵柯雨 Mao Qilin;Zhao Keyu

机构地区：[1]南开大学经济学院,天津300071 [2]北京大学国家发展研究院,北京100871

出　　处：《复印报刊资料（国际贸易研究）》2022年第7期78-88,共11页INTERNATIONAL TRADE

基　　金：国家自然科学基金项目“贸易开放与我国制造业产能利用率:因果效应、机制及对策研究”(项目编号:72073074);国家自然科学基金项目“中国外资进入自由化、创新驱动与制造业企业转型升级研究”(项目编号:71773055);南开大学文科发展基金项目“外资政策动态调整与中国制造业产能过剩问题研究”(项目编号:ZB21BZ0203)。

摘　　要：本文以中国加入WTO后分阶段取消对外资银行的地域限制作为准自然实验,采用多批次冲击倍差法系统地考察了外资银行进入对中国制造业企业进口行为的影响效应与作用机制。研究结果表明,外资银行进入显著扩大了当地企业的进口规模。影响机制检验发现,“融资约束缓解”是外资银行进入促进企业进口的重要途径,并且在外部融资依赖度越高的行业,外资银行进入对企业进口的促进效应越大。进一步的异质性分析结果表明,外资银行进入对民营企业进口的促进效应大于外资企业和国有企业,对一般贸易企业进口的促进效应大于混合贸易企业和纯加工企业,对中间品进口的促进效应大于资本品和消费品,对东部地区企业进口的促进效应大于中西部地区企业。This paper empirically analyzes the influence and mechanism of foreign banks'entry on Chinese manufacturing firms'import behavior with the multiple shock difference-in-differences(DID)method,taking phased removal of geographical restrictions on foreign banks after China's accession to the WTO as a quasi-natural experiment.The major conclusions are as follows.Foreign banks'entry significantly expands the import scale of local firms.The influence mechanism test shows that financial constraints mitigation is the main channel through which foreign banks'entry promotes firms'imports,and the promotion effect is more significant for industries with higher external financing dependence.The results of heterogeneity analysis show that foreign banks'entry has a greater impact on private firms,pure-general trade firms,intermediate products and firms in the eastern region,than foreign-funded firms and state-owned firms,mixed-trade firms and pure-processing firms,capital goods and consumer goods,and firms in the central and western regions,respectively.

关 键 词：外资银行进入 企业进口 融资约束 

分 类 号：F752.61[经济管理—国际贸易]