人力资本、融资约束与企业出口产品质量

Human Capital,Financing Constraints and Export Quality

利用2000-2010年间中国工业企业和海关的匹配数据库,结合我国普遍存在的融资约束背景,识别和检验人力资本积累对我国企业出口产品质量升级作用的效果及渠道。结果表明:(1)不同于既有研究强调的单一生产率路径,人力资本的改善分别从加工生产率、产品生产率和规模扩张三类渠道显著提升了企业的出口产品质量。(2)人力资本对出口产品质量的推动作用受到了融资约束的负面影响,而规模扩张渠道遭到的制约是出现这一现象的主要原因。(3)与企业研发密切相关的加工生产率渠道并未受到融资约束的限制,这表明我国出口产品质量升级缓慢与出口企业未能实现人力资本利用的专业化、高级化转变密切相关。人力资本与企业出口产品质量的深层次关系为我国出口突破现实困境、探索未来发展方向提供了新的视角与经验证据。

Taking into account the background of financing constraints prevailing in China,this paper identifies and tests the effects,channels and levels of human capital accumulation on the quality of Chinese enterprises export products.Using the combined dataset formed from Chinese customs data and Chinese firm-level data from the National Bureau of Statistics of China(NBSC),it is found that:(1)Different from the single productivity channel emphasized by the existing research,the improvement of human capital has significantly improved the quality of the export products of enterprises from the three channels of processing productivity,product productivity and scale expansion.(2)The promoting effect of human capital on export quality is negatively affected by financing constraints,and the constraints on scale expansion channels constitute the main reason for this phenomenon.(3)The processing productivity channels closely related to enterprise R&D are not restricted by financing constraints,which indicates that the slow upgrading of the quality of China s export products is closely related to the failure of export enterprises to realize the specialized and advanced transformation of human capital utilization.The above findings of this paper reveal the deep-seated relationship between human capital and the quality of firms export products,and provide a new perspective and empirical evidence for exploring the future direction of export development in combination with China s actual difficulties.