“性价比”与出口增长：中国出口奇迹的新解读

Price-Performance Ratio and Export Growth:A New Interpretation of China's Export Miracle

本文在构建理论分析框架的基础上,利用1996-2009年中国与90个贸易伙伴的双边贸易数据进行经验研究,从"性价比"的视角解读了中国出口奇迹。研究结果显示,"性价比"提高显著促进了中国制造业的出口增长,且在不同类型行业和不同类型进口地中呈现出一定的差异性。通过结构分解发现,中国出口产品"性价比"的提高恰好满足了不断扩大的国外市场需求,成就了中国制造业的出口奇迹;"性价比"在结构上的动态调整,揭示了在价格优势逐渐弱化而产品质量与发达国家尚存在差距的情况下,中国制造业出口仍能持续增长的原因。

This paper attempts to make a new interpretation of China＇s export miracle from the perspective of price-performance ratio. Based on a theoretical framework, we use the bilateral trade data from 1996 to 2009 between China and its 90 trading partners for empirical research. The results show that the improvement of the price-performance ratio has significantly promoted the export growth of China＇s manufac- turing goods, and show different effects in different industries and different importing countries. Further- more, by structural decomposition analysis, we found that the price-performance ratio improved China＇s export just because those export goods can meet the expanding demand in foreign markets and thus result in the miracle of China＇s manufacturing exports. The structural adjustment of price-performance ratio in export goods suggests the reason of why manufacturing exports grow continuously in a period of time when the price advantage gradually decreased while there is still a gap of product quality between China and its competitors.