融资约束、制度环境和出口产品质量

Financial Constraints, Institutional Environment and Quality of Export Products

企业的融资水平是否会影响其出口质量提升?是否影响其在国际市场上竞争的能力?该文基于中国省际制度存在较大差异的背景下,利用2000-2006年中国海关数据库和工业企业数据库,试图从微观层面回答这个问题.研究结果表明:(1)融资约束整体抑制中国工业企业出口产品质量的提升,且这种抑制效应只在高生产率企业起作用;省际制度环境的改善缓解了融资约束对出口产品质量的抑制效应;(2)区分所有制的情况下,内资企业比外资企业融资约束对出口产品质量的抑制作用更强,且制度环境只在内资企业中发挥正向调节作用.这些事实很大程度上说明,中国应积极推进省级制度环境深层次改革,从而改善企业,特别是民营企业存在的融资难问题,进而提高企业出口质量,扩大企业在国际市场的竞争力.

Will the level of financing of enterprises affect their ability to compete in the international market through export quality enhancement?This paper tries to answer this question at the micro level by using the database of Chinese customs and industrial enterprises from 2000 to 2006 based on the background of the great differences in the system between Chinese provinces.The research results show that:(1)The overall financing constraints inhibit the improvement of the quality of export products of industrial enterprises in China,and this inhibition effect only works in high-productivity enterprises;The improvement of the inter-provincial institutional envi-ronment has eased the restraining effect of financing constraints on the quality of export products;(2)In the case of differentiated ownership,domestic enterprises have stronger inhibition on the quality of export products than foreign enterprises,and the institutional environment only plays a positive regulatory role in domestic enterprises.To a large extent,these facts suggest that China should actively promote the in-depth reform of the system environment at the provincial level,so as to improve the financing difficulties of enterprises,especially private enterprises and high-productivity enterprises,thereby improving the quality of enterprises'exports and expanding their competitiveness in the international market.