出口退税效率与企业出口绩效

VAT Rebate Efficiency and Firm Export Performance

基于中国企业税收调查数据和海关企业出口数据,本文考察了出口退税效率对出口的影响,发现出口退税效率提升显著促进了企业出口。出口退税延迟率每降低10个百分点,企业出口平均增长15.3%。本文进一步识别出退税延迟中存在的错配:融资约束严重的企业受到退税延迟的影响更大,然而,平均而言这些企业的退税延迟率反而越高。因此,在存在财政约束的情况之下,地方政府也可以通过优化退税分配的方式来促进出口。

Using a unique panel of Chinese firms with export and rebates information,we explore the impact of VAT rebate efficiency on firm export.Results show that the rebate efficiency improvement substantially promotes firm export sales.Decreasing delay ratio by 10 percentage points can cause about 15.3% increase in export value.Furthermore,we find the mismatch pattern in allocating rebates:exporters with tighter financial constraints respond more elastically to rebates delay,yet they are also more likely to have a higher delay ratio.In such case,local governments could promote export by optimizing the rebate allocation under local fiscal constraint.