进口自由化与企业利润率：理论及实证研究
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| Title | Import Liberalization and Firm Profitability: Theoretical and Empirical Analysis
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| 作者 | 余淼杰 智琨 |
| Author | Yu Miaojie and Zhi Kun |
| 作者单位 | 北京大学国家发展研究院 |
| Organization | Peking University |
| 作者Email | mjyu@ccer.edu.cn；nkzhikun@163.com |
| 中文关键词 | 进口自由化 企业利润率 行业关税 企业生产率 |
| Key Words | Import Liberalization; Firm Profitability; Industrial Tariff; Firm Productivity |
| 内容提要 | 本文研究了最终品进口自由化对本国进口竞争企业利润率的影响。短期均衡时，最终品进口自由化使得更多外国企业向本国市场进行出口，加剧了本国产品市场的竞争，降低了本国进口竞争企业的利润率。而在长期，由于企业能够充分进行进入退出市场的调整，一部分本国企业会退出市场，均衡时存留下来的企业利润率升高。本文首先通过理论模型解释了上述现象，接着利用我国2000-2007年规模以上制造业企业层面的面板数据进行了实证检验。实证结果发现，最终品进口关税减免虽然在短期降低了进口竞争企业的利润率，在长期则能使留存在市场上的进口竞争企业的利润率升高。此外，理论模型和实证结果还证明了，其他条件相同时，企业的生产率越高，其利润率就越高。 |
| Abstract | The paper discusses how import liberalization of final goods will affect domestic import-competing firms’ profitability. In the short run, import liberalization of final goods allows more foreign firms to export to the domestic market, which intensifies competition of domestic market and thus reduces profitability of import-competing firms. However, in the long run, because firms can choose whether to enter or exit the market, some domestic reigning firms will choose to exit, leaving the firms remaining in the market enjoy a higher profitability in equilibrium. We first illustrate the idea through a theoretical model, then we use Chinese firm-level data from 2000-2007 to provide some empirical evidence. The empirical results show that although import tariff reduction of final goods lowers domestic import-competing firms’ profitability in the short run, it indeed increases the profitability of firms that remain in the market in the long run. Our model and empirical results also show that a firm with higher productivity will have higher profitability. |
| 文章编号 | WP860 |
| 登载时间 | 2015-04-07 |
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