批发业外资开放、供应链整合与消费福利——基于微观视角的理论与经验分析  

Wholesale Industry Opening up to Foreign Investment,Supply Chain Integration and consumption Welfare:Theoretical and Empirical Analysis from a Micro Perspective

作　　者：孙浦阳 杨易擎 蒋殿春[3] SUN Puyang;YANG Yiqing;JIANG Dianchun(School of Economics,Renmin University of China;Institute of International Economy,University of International Business and Economics;School of Economics,Nankai University)

机构地区：[1]中国人民大学经济学院,北京100872 [2]对外经济贸易大学国际经济研究院,北京100029 [3]南开大学经济学院,天津300071

出　　处：《金融研究》2024年第10期113-131,共19页Journal of Financial Research

基　　金：国家社会科学基金重大项目(21ZDA092)的资助

摘　　要：本文聚焦商品批发这一重要的供应链环节,检验批发业外资开放通过优化供应链结构,最终对消费市场产生的重要影响。首先,本文理论分析表明,批发业外资开放,会增加选择直接进口零售商的市场份额,削弱零售商通过批发商间接进口商品的成本加成,并且降低在位零售商边际成本,进而降低国内市场零售价格。其次,本文构建了中国批发行业的外资开放指标,并且通过商品名称与消费市场信息匹配,获取了中国2000—2019年城市—行业—商品维度的价格数据。再次,经验分析表明,批发业外资开放每提高1个单位,零售商品的市场价格将下降2.71~11.78%;机制分析发现,零售行业直接进口的市场份额越小,成本加成和边际成本越大,批发业外资开放对商品零售价格的边际作用越大。最后,本文基于经验分析结果,量化了消费市场开放福利,结果表明批发业外资开放对消费福利具有显著的提升作用。本文的研究为实施“更高水平开放”和“创新服务渠道”政策提供了新的理论基础和经验证据。To establish a new system for a higher-level open economy,China must also focus on optimizing the structure of the entire production supply and consumption demand chain,in addition to implementing more extensive and in-depth opening-up measures.Market opening will inevitably generate competitive effects,and how to effectively utilize open policies to promote the structural optimization of the supply and demand chain has become a crucial step in enhancing the effectiveness of opening up.To establish a new system for a higher-level open economy,greater emphasis should be placed on opening up the service sectors within the chain,particularly the access of foreign investment in service sectors such as transportation,wholesale,and retail.Among them,the opening up of the wholesale industry,as a necessary component of China's opening-up process,plays a pivotal role in connecting the production supply and consumption demand chain.The paper focuses on commodity wholesale,an important segment of the supply and demand chain,theoretically elucidating how the opening up of the wholesale industry to foreign investment ultimately exerts a significant impact on the consumer market by fostering competition within the chain.Based on actual data,the paper provides detailed empirical evidence for the theoretical analysis at the micro-level of cities and products.Although there is already a wealth of empirical research on service opening up,most studies have focused on its impact on the exports,productivity,and performance of downstream enterprises.Research on how service opening up affects supply and demand chain integration and the consumer market remains inadequate,and theoretical discussions on service opening up are also relatively scarce.This is mainly because,at the theoretical level,although service opening up promotes competition,its mechanism of action still needs to be revealed through a novel theoretical validation process.Therefore,based on trade behavior within the supply and demand chain,namely the impact of foreign in

关 键 词：批发业外资开放 供应链结构 消费市场 

分 类 号：F274[经济管理—企业管理] F832.6[经济管理—国民经济] F724.1