海外市场信息交流与产品市场配置效率

Overseas Information Exchange and the Market Allocation Efficiency of Products

自加入WTO以来,中国出口企业数量稳步增长,成为推动外循环发展的重要力量;在双循环背景下,出口企业在海外市场的信息交流如何影响产品市场配置是一个重要话题。本文基于2000-2015年中国海关进出口贸易数据库,将研究视角聚焦于出口贸易,借助产品空间理论深入分析了海外市场信息交流对产品市场配置的作用机制,将外循环和内循环纳入统一分析框架。研究发现:企业海外市场信息交流能够促进国内产品市场配置效率的提升;对于国内贸易壁垒较高或获得政策支持的行业、产业集聚较低的地区,海外市场信息交流对产品市场配置效率的影响更强。机制检验结果表明,出口企业在海外市场的信息交流有助于吸引更多企业进入该行业和扩张行业内企业的平均出口市场,且当区域内企业内部网络距离更短或外部网络距离更长时,海外市场信息交流的配置效应会得到强化。本文的研究有助于回答中国在推动经济高质量发展的道路上如何统筹内循环和外循环的问题。

At this stage,Chinese economy has entered a new normal of development,facing such problems as industry restructuring,overcapacity and an aging population,among others.The extensive economic growth model is not sustainable.Therefore,how to improve the efficiency of resource allocation and alleviate resource mismatch under the existing resource constraints has become a question we must answer in the pursuit of sustainable economic development.As for how to improve market allocation efficiency,existing literature mostly focuses on the domestic factors,but rarely discusses the role of external economic flows in improving the allocation efficiency of the domestic market against the background of the double development dynamic.Since China's accession to the World Trade Organization,exporters have steadily grown in numbers in the country,which not only optimizes their internal factor and product mix,but also affects the efficiency of resource allocation.Based on the import and export trade database of China Customs from 2000 to 2015,this paper analyzes how overseas market information exchange can affect product market allocation based on the product space theory,and integrates the international economic flow and the domestic economic flow into a unified analysis framework.The research findings of this paper can help us take into account the double development dynamic as we work to promote high-quality economic development in China.The paper's contributions are as follows.First,this paper analyzes how exporters'overseas market information exchange affects the market allocation efficiency of products,and integrates the international economic flow and the domestic economic flow into a unified analysis framework.Second,existing literature mostly measures the market allocation efficiency based on the divergence of markup,but the availability and accuracy of cost data greatly reduce the credibility of indicators.This paper takes it into consideration and provides a simpler method to measure the market allocation efficiency by using the price relative mean deviation index of homogeneous products.Third,this paper provides a new quantitative means for understanding how enterprises enhance their competitiveness through cross-border information flow,and complements the application of the theory of product space at the micro level.At the same time,it provides the microeconomic foundation for the transmission mechanism via which the international economic flow promotes the domestic economic flow.The following policy implications can be derived from this paper.First,to improve the efficiency of resource allocation,in addition to reforming and improving the systems and boosting economic development,we should also actively change the development mindset,promote Chinese enterprises to go global,reduce the communication barriers and disorderly competition between enterprises,and promote more knowledge transfer in the information network of enterprises.Second,the smooth economic flow overseas will not only satisfy the needs of domestic market integration,but also improve the market allocation efficiency to a certain extent.The government should issue policies to reduce the excessive protection of industries and enterprises,give full play to the decisive role of the market competition mechanism in the allocation of resources,and achieve a higher level of opening up.Third,enterprises'overseas information exchange can make up for the distorting effect of industrial policies on the market and alleviate the damage of domestic market segmentation to market efficiency.The government should give full play to the advantages of information management,build a platform for enterprise communication,provide enterprises more access to information,and encourage the exchange and sharing of information among enterprises,so as to reduce their input cost,improve the efficiency of market allocation,and form an efficient unified market.