出口退税的出口激励效应--兼论企业融资情况与创新行为的变化  

The Effects of Export Tax Returns on Firms'Export and Innovation:Evidence from China

作　　者：王卓 岳林峰 刘冲[1] ZHUO WANG;LINFENG YUE;CHONG LIU(School of Economics,Peking University)

机构地区：[1]北京大学经济学院

出　　处：《产业经济评论》2024年第1期155-173,共19页Review of Industrial Economics

基　　金：国家社会科学基金重大项目“促进高质量发展的中国税制结构优化与改革研究”(21&ZD097);北京大学文科科研创新项目“全球治理下的人工智能与现代产业体系构建研究”;东湖高新区国家智能社会治理实验综合基地项目“数字经济时代财税政策与企业创新研究”的阶段性成果

摘　　要：出口退税是稳定国际循环、推动“双循环”格局发展的重要政策抓手。本文基于2008-2011年全国税收调查数据,运用双重差分法实证研究了2009年部分产品出口退税率提高对企业出口销售的影响。结果表明,此次出口退税率的提高使企业出口销售额提高10.3%,获得的出口退税资金增加4.2%。异质性分析结果表明,随着融资约束程度的提高,企业更有激励增加出口销售,以获得更多的退税资金。并且,随着所获出口退税资金增加,企业获得的外源融资和研发投入均相应提高。因此,可以适当提高对部分重点行业的退税率,从而在外部冲击频发与新发展格局不断深化的背景下切实推动经济高质量发展。Export tax rebates(ETR)are an important policy tool to stabilize the international cycle and promote the promotion of dual cycles.From the perspective of firms’financing constraints,it is of enlightenment to further exert the effect of ETR and deepen the new development pattern by study the financing effect and innovation effect of ETR policy on firms.Based on National Tax Investigation dataset from 2008-2011,our DID estimation evidences that the 2009 ETR policy leads to 10.3%increase in sales and 4.2%in cash rebates.For firms with higher financing constraints,they are more likely to increase their export sales in order to receive tax rebates.In addition,the ETR policy leads to the 0.4 percentage point increases in firms’external financing(measured as the fraction between new liabilities and operating revenue)and Research and Development(R&D)expenditure.Therefore,the ETR policy for some key industries can be adjusted appropriately,so as to effectively promote high-quality economic development in the context of frequent foreign shocks and the deepening of the new development pattern.

关 键 词：出口退税 出口销售 企业融资约束 企业外源融资 研发投入 

分 类 号：F752.62[经济管理—国际贸易] F812.42[经济管理—产业经济] F275F273.1