信息摩擦与产品质量——来自中国制造业外资自由化政策的证据  

Information Frictions and Product Quality:Evidence From Foreign Investment Liberalization Policy of China’s Manufacturing Industry

作　　者：谢娟娟 郑佳豪 XIE Juanjuan;ZHENG Jiahao

机构地区：[1]南开大学经济学院国际经济贸易系、数字经济交叉科学中心 [2]南开大学经济学院国际经济贸易系

出　　处：《国际经贸探索》2024年第3期38-55,共18页International Economics and Trade Research

基　　金：国家社会科学基金项目(22BJY195)。

摘　　要：文章从投资者的信息摩擦视角解释了外资自由化进程中的产品质量提升困境。首先,文章构建了具有信息摩擦成本的投资模型,从理论上证明了投资者搜索行为中存在的信息摩擦对产品质量的负向作用。其次,文章采用微观企业的产品层面数据,实证分析信息摩擦成本增加对产品质量的影响效应。结果发现:第一,信息摩擦对中国制造业产品质量具有显著的负向影响;第二,信息摩擦对有外商投资背景的企业的出口产品质量影响更大;第三,外资自由化带来的信息摩擦成本的增加,使得企业产生了规避质量竞争的动机。因此,通过有效降低投资者的信息摩擦成本将有助于构建中国制造业外资自由化进程中的质量优势,为破局“低端锁定”提供了重要的理论和经验依据。This paper explains the dilemma of product quality improvement in the process of foreign investment liberalization from the perspective of information frictions of the investors.Firstly,the paper constructs an investment model with the cost of information frictions and theoretically proves the negative effect of information frictions in the investors' search behavior on product quality;secondly,the paper uses product-level data of micro enterprises to empirically analyze the impact of the increase in the cost of information frictions on product quality.The results show that:(1) information frictions have significant negative impact on the quality of China's manufacturing products;(2) information frictions exert greater effect on the quality of export products of the enterprises which are engaged in foreign investment;(3) the increase in the cost of information frictions brought about by foreign investment liberalization motivates the enterprises to avoid quality competition.Therefore,reducing the investors' cost of information frictions effectively will be conducive to building the quality advantage in the process of foreign investment liberalization in China's manufacturing industry and provide important theoretical and empirical basis for breaking through the “low-end lock-in”.

关 键 词：产品质量 信息摩擦 外资自由化 FDI 

分 类 号：F740[经济管理—国际贸易]