摘要
基于新新贸易理论,运用1998-2007年中国工业企业的面板数据,采用Heckman两阶段选择模型考察了流动性约束对中国企业出口行为的影响。研究结论表明,流动性约束是影响我国企业是否出口及出口企业出口数量的重要因素。相比于集约边际,流动性约束对企业出口扩展边际的作用更为显著。同时,进一步的研究表明,上述结论主要存在于私营企业和混合所有制企业内,国有企业和集体企业的出口基本不受流动性约束的影响。
Based on the new-new trade theory and panel data from China＇s industrial enterprises during 1998-2007, this paper adopts the Heckman two-stage selection model to test the effect of liquidity constraints on the export behaviors of China＇s enterprises. The results show that liquidity constraint is an important factor that affects the export decisions of China＇s enterprises and the export volume of the export enterprises. Compared to the intensive margin of trade, the effect of liquidity constraints on the extensive margin of export enterprises is more significant. Meanwhile, further study indicates that the above-mentioned conclusion exists mainly within the private enterprises and the mixed-ownership firms; the export of both the state-owned or collectively-owned enterprises is not subject to the liquidity constraint.
出处
《当代财经》
CSSCI
北大核心
2014年第12期97-108,共12页
Contemporary Finance and Economics
关键词
流动性约束
企业出口
扩展边际
集约边际
liquidity constraint
business export
extensive margin
intensive margin
