“金融结构-技术水平”匹配与全球价值链嵌入

“Financial Structure-Technology Level”Matching and Global Value Chain Embedding

全球价值链嵌入是参与国际经济循环的重要切入点,文章基于2007—2019年的跨国面板数据,实证检验了金融结构与全球价值链嵌入的关系。研究发现:金融结构转型可以促进全球价值链参与程度和嵌入程度的提高,但对嵌入位置的积极影响在高金融发展程度国家才得以发挥,最优金融结构的效率提升机制作用于全球价值链参与程度,而风险分散机制作用于全球价值链嵌入程度。

Global value chain embedding serves as a crucial entry point for engaging in the international economic cycles.This paper utilizes the cross-country panel data from 2007 to 2019 to empirically examine the relationship between financial structure and global value chain embedding.The study finds that financial structural transformation can facilitate an increase in both the degree of participation and the level of embedding within global value chains,but the positive effect on embedding position can be only brought into play in the countries with a high level of financial development,and that the efficiency enhancement mechanism of the optimal financial structure affects the degree of participation in global value chains,while the risk diversification mechanism influences the degree of global value chain embeddedness.