中间品贸易自由化、市场结构与企业成本加成

Input Trade Liberalization, Market Structure and Firm Markup

本文研究了不同市场结构下中间品贸易自由化对企业成本加成的异质性影响。通过构建一个包含中间品和最终品贸易的异质性企业理论模型,本文分析了一般均衡中中间品关税下降对个体企业成本加成的影响渠道,以及市场结构的异质性影响。中间品关税下降一方面降低了个体企业的生产成本,使得其成本加成提高;另一方面降低了行业整体的平均成本,增强了个体企业面临的竞争,使得其成本加成下降。在集中度越高的市场中,中间品关税的降低使得进口企业的成本加成增加越多。本文使用匹配的中国工业企业数据和海关数据,分析了2000-2007年我国中间品关税降低在不同市场结构的行业中对企业成本加成的异质性影响,并采用工具变量回归控制可能的内生性问题,实证发现与模型预测一致。这一发现对于讨论贸易自由化对国内资源配置效率和福利改进的影响具有一定的借鉴意义。

This paper studies the impact of input trade liberalization on firm markup,and emphasizes the heterogeneity across industries with different market structure.By building a model with both final good and intermediate input trade,we show the mechanisms for input tariff reduction to affect firms’markups and the heterogeneous impact of market structure.We find that,on the one hand,the input tariff reduction lowers firms’production cost and raise their markups;on the other hand,input tariff reduction raises average efficiency of an industry and increases competition from domestic firms,forcing individual firms to lower markups.In a more/less competitive industry,the importers’markups increase less/more.We use Chinese manufacturing survey data and custom data to examine the impact of input tariff reduction on firm markup,and employs IV regression to control for endogeneity biase.The empirical findings are consistent with theoretical predictions.This paper has important implications on the gains from trade in allocation efficiency and social welfare.