|
|
|
| Antidumping and Multiproduct Firm Export Activity: Evidence from Chinese Manufacturing Firms |
| XU Jiayun, ZHANG Junmei, LIU Zhuqing
|
APEC Study Center, Nankai University;
Institute for Contemporary China Studies, Tsinghua University;
School of Economics, Nankai University;
School of Economics, Fujian Normal University |
|
|
|
Abstract Since the reform and opening up, foreign trade in China has experienced an unprecedented level of rapid development. China has ranked first in the world in terms of trade scale and volume for many consecutive years and has long benefited from economic globalization. However, in the context of a new round of trade protectionism, China faces increasingly serious trade barriers in overseas markets. Certainly, enhancing the competitiveness of export enterprises and their ability to respond to foreign antidumping investigations can help achieve the orderly development of high-quality export trade and “external circulation.” This paper attempts to answer the following related questions: What effect do antidumping measures have on the export activity and productivity of Chinese firms？ By what mechanism are these effects realized？
Theoretically, antidumping measures have a multifaceted effect on export enterprises. Encountering antidumping measures increases production costs, weakens the price advantage and reduces profits, and thus negatively affects exports. As antidumping measures threaten the survival of export enterprises and intensify the competitive pressure they face, antidumping measures force enterprises to change their transformation and upgrade strategies to improve efficiency and product quality, fundamentally enhancing the competitiveness of their products. Therefore, the effect of antidumping measures on China's export enterprises represents an empirical problem. By answering the questions posed above, we can evaluate the operating conditions of China's export enterprises and deepen our understanding of the mechanism by which antidumping measures affect export enterprises. The answers to these questions also have strong practical significance for China's transformation of its economic development mode, the innovation-driven manufacturing industry and enhanced international competitiveness against the background of the global value chain.
The results show that for Chinese multiproduct firms, encountering antidumping measures has a positive effect on export prices, the concentration of export products and export market diversification but a negative effect on export volume and scope (i.e., number and variety of export products). These effects are limited by the firm's downstream and upstream participation in the global value chain. Heterogeneity tests show that the effects of encountering antidumping measures on export activity differ significantly among multiproduct firms depending on characteristics such as the type of ownership and mode of trade. Finally, by constructing a firm-level product competitiveness index, we find that Chinese multiproduct exporting firms tend to export a broader product mix, giving such firms a competitive edge and raising their productivity. This effect increases gradually as procedures for responding to antidumping measures are promoted. These conclusions indicate that encountering antidumping measures leads firms to focus on exporting core products and thus promotes the efficiency of Chinese export firms in the long run.
This paper makes the following innovative contributions. First, it combines the heterogeneous trade theory of manufacturers and products with micro data from Chinese multiproduct export firms to explore the effects of antidumping measures on the export behavior of these firms from the perspective of the internal export product structure. In contrast to most of the literature, this paper not only examines the effects of encountering antidumping measures on the scale of the quantity and types of export products but also examines the effects on export prices, the concentration of export products and the diversification of the export market. Thus, this paper not only enriches the literature on the effect of antidumping measures on exports but also deepens our understanding of how antidumping measures affect a firm's export behavior. Second, in addition to using the propensity score matching-difference-in-differences (PSM-DID) method to investigate the average effect of antidumping measures on firms' export behavior, this paper incorporates the global value chain into its analytical framework. By measuring upstream embeddedness, downstream embeddedness and global value chain status, this paper investigates the role of global value chain status in the effect of antidumping measures on firms' export behavior. Few studies address the role of the global value chain in the effect of antidumping measures on trade. Third, this paper further explores the effect of antidumping measures on the productivity of multiproduct firms from the perspective of intra-firm export product reallocation, and thus it enriches the literature on the effect of antidumping measures on exports.
|
|
Received: 10 September 2018
Published: 02 June 2021
|
|
|
|
|
| [1] |
鲍晓华,2007,《反倾销措施的贸易救济效果评估》,《经济研究》第2期,第71～84页。
|
| [2] |
杜威剑、李梦洁, 2018,《反倾销对多产品企业出口绩效的影响》,《世界经济研究》第9期,第55～67页。
|
| [3] |
冯宗宪、向洪金,2010,《欧美对华反倾销措施的贸易效应:理论与经验研究》,《世界经济》第3期,第31～55页。
|
| [4] |
蒋庚华、霍启欣、李磊,2019,《服务业离岸外包、全球价值链与制造业国际竞争力》,《山西大学学报(哲学社会科学版》第12期,第29～43页。
|
| [5] |
毛其淋,2020,《贸易自由化、异质性与企业动态:基于中国加入WTO的经验研究》,商务印书馆。
|
| [6] |
彭国华、夏帆,2013,《中国多产品出口企业的二元边际及核心产品研究》,《世界经济》第2期,第42～63页。
|
| [7] |
钱学锋、王胜、陈勇兵,2013,《中国的多产品出口企业及其产品范围:事实与解释》,《管理世界》第1期,第9～27页。
|
| [8] |
苏振东、刘璐瑶、洪玉娟,2012,《对外反倾销措施提升中国企业绩效了吗》,《财贸经济》第3期,第68～75页。
|
| [9] |
孙楚仁、陈瑾、李丹,2019,《贸易自由化、行业比较优势与企业生产率》,《世界经济与政治论坛》第3期,第1～26页。
|
| [10] |
王孝松 、施炳展 、谢申祥 、赵春明,2014,《贸易壁垒如何影响了中国的出口边际 ？——以反倾销为例的经验研究》,《经济研究》第11期,第58～71页。
|
| [11] |
王孝松、林发勤、李玏,2020,《企业生产率与贸易壁垒——来自中国企业遭遇反倾销的微观证据》,《管理世界》第9期,第54～67页。
|
| [12] |
许家云、佟家栋、毛其淋,2015,《人民币汇率变动、产品排序与多产品企业的出口行为——以中国制造业企业为例》,《管理世界》第9期,第17～31页。
|
| [13] |
杨连星、刘晓光,2017,《反倾销如何影响了对外直接投资的二元边际》,《金融研究》第12期,第64～79页。
|
| [14] |
Bernard, A. B., S. J. Redding and P. K. Schott. 2011. “Multi-Product Firms and Trade Liberalization”, The Quarterly Journal of Economics, 126(3): 1271～1318.
|
| [15] |
Bown, C. P., and M. A. Crowley. 2007. “Trade deflection and trade depression”, Journal of International Economics, 72 (1): 176～201.
|
| [16] |
Bown, C. P. 2009. “The Global Resort to Antidumping, Safeguards, and other Trade Remedies Amidst the Economic Crisis”, Effective Crisis Response and Openness: Implications for the Trading System, London, UK: CEPR and World Bank.
|
| [17] |
Chandra, P., and C. Long. 2013. “Anti-dumping Duties and their Impact on Exporters: Firm Level Evidence from China”, World Development, 51 (4): 169～186.
|
| [18] |
Chatterjee, A., and R. Dix-Carneiro. 2013. “Multi-Product Firms and Exchange Rate Fluctuations”, American Economic Journal: Economic Policy, 5(2): 77～110.
|
| [19] |
Eckel, C., and J. P. Neary. 2010. “Multi-Product Firms and Flexible Manufacturing in the Global Economy”, Review of Economic Studies, 77(1): 188～217.
|
| [20] |
Khandelwal, M. 2013. “Correlating P-wave Velocity with the Physico-Mechanical Properties of Different Rocks”, Pure & Applied Geophysics, 170 (4): 507～514.
|
| [21] |
Knetter, M. M., and T. Prusa. 2000. “Macroeconomic Factors and Anti-Dumping Filings: Evidence from Four Countries”, Mimeo.
|
| [22] |
Konings, J., and H. Vandenbussche. 2008. “Heterogeneous Responses of Firms to Trade Protection”, Journal of International Economics, 76(2): 371～383.
|
| [23] |
Li C. D., and J. Whalley. 2015. “Chinese Firm and Industry Reactions to Antidumping Initiations and Measures”, NBER Working Paper, No. 16446.
|
| [24] |
Liu, R. J. 2010. “Import Competition and Firm Refocusing”, Canadian Journal of Economics, 43(2): 440～466.
|
| [25] |
Lu, Y., Z. G. Tao, and Y. Zhang. 2013. “How do Exporters Respond to Antidumping Investigations？”, Journal of International Economics, 91(2): 290～300.
|
| [26] |
Manova, K., and Z. Zhang. 2012. “Export Prices across Firms and Destinations”, Quarterly Journal of Economics, 127: 379～436.
|
| [27] |
Mayer, T., M. Melitz, and G. Ottaviano. 2011. “Market Size, Competition, and the Product Mix of Exporters”, NBER Working Paper, No, 16959.
|
| [28] |
Mayer, T., M. Melitz, and G. Ottaviano. 2014. “Market Size, Competition and the Product Mix of Exporters”, American Economic Review, 104(2): 495～536.
|
| [29] |
Pierce, J. R. 2011. “Plant-level Responses to Antidumping Duties: Evidence from U.S. Manufacturers”, Journal of International Economics, 85 (2): 222～233.
|
| [30] |
Prusa, T. 1994. “Pricing Behavior in the Presence of AD Dumping Law”, Journal of Economic Integration, 9(2): 260～289.
|
| [31] |
Prusa, T. 1996. “The Trade Effects of U.S. Antidumping Actions”, NBER Working Paper, No. w5440.
|
| [32] |
Vandenbussche, H., and X. Wauthy. 2001. “Inflicting Injury through Product Quality: How European Antidumping Policy Disadvantages European Producers”, European Journal of Political Economy, 17(1): 101～116.
|
| [33] |
Vandenbussche, H., and C. Viegelahn. 2013. “Indian Antidumping Measures against China”, Foreign Trade Review, 48 (4) : 1～21.
|
| [34] |
Upward, R., Z. Wang, and J. H. Zheng. 2013. “Weighing China's Export Basket: The Domestic Content and Technology Intensity of Chinese Exports”, Journal of Comparative Economics, 41(2): 527～543.
|
| [35] |
Yu, M. J. 2015. “Processing Trade, Tariff Reductions and Firm Productivity: Evidence from Chinese Firms”, The Economic Journal, 125(585): 911～1189.
|
| [36] |
Zhang, H. Y. 2018, “Political Connections and Antidumping Investigations: Evidence from China”, China Economic Review, 50: 34～41.
|
|
|
|
