外资进入促进了企业全球价值链嵌入吗?——基于中国微观企业的经验证据

Does FDI Promote Firm-level GVC Embeddedness?——Empirical Evidence based on Chinese Firms

外资进入是否改变了中国企业的全球价值链嵌入模式?利用中国工业企业数据库和海关贸易数据库在刻画企业全球价值链嵌入模式的动态演进基础上,探讨了外资进入对中国企业全球价值链嵌入模式的影响。研究表明:2000—2013年中国企业上游嵌入度不断提升但程度较小,下游嵌入度相对较大却持续下降,企业全球价值链分工地位整体为负但攀升态势明显;外资进入推动了企业上游环节的嵌入度,对下游环节嵌入度产生明显锁定效应,整体上外资进入的企业全球价值链地位效应表现出显著负向作用;一般贸易企业、外资企业、劳动密集型及低技术水平企业同行业外资进入的全球价值链地位负向效应明显;进一步的动态效应和影响机制分析发现,外资进入对企业全球价值链地位表现出显著动态抑制作用,会通过融资约束效应对企业全球价值链地位产生显著的正向调节效应,从而有利于缓解外资进入的全球价值链“低端锁定”风险。

Has FDI entry changed Chinese firm-level GVC embeddedness model?On the basis of China Customs Trade Database and China Industrial Enterprise Database,this paper depicts the dynamic evolution of Chinese firms’GVC embeddedness,and analyzes the influence of FDI entry on Chinese firms’GVC embeddedness.The results show that Chinese firm-level GVC’s upstream embeddedness is lower but has significant improvement from 2000 to 2013,While downstream embeddedness is much larger but continues to fall.Chinese firm-level GVC’s status is negative but rising obviously.FDI entry promotes the degree of firms’upstream embeddedness,but has a significant lock-in effect on the degree of downstream embeddedness.Overall,FDI entry shows a significant negative effect on the Chinese firm-level GVC’s status.FDI entry in the general trading enterprises,foreign-invested enterprises,laborintensive and low-technology enterprises have obvious negative effects on the firm-level GVC’s status.Further analysis on the dynamic evolution and changing mechanism shows that FDI entry has significant dynamic negative effect on the firm-level GVC’s status.The higher financial constraints the firm has,the greater positive moderating effect on the firm-level GVC’s status FDI entry makes.And it’s more likely to help that alleviate to be locked into the low value-added activities of GVC.