摘要
中国贸易的高质量发展离不开出口质量的提升,文章基于金融服务实体经济的角度剖析银行业竞争对我国出口质量的影响。在异质性企业贸易模型的基础上,文章首次从企业的产品质量调整以及进入和退出调整两个渠道,构建银行业竞争影响企业出口质量的理论模型,并采用中国工业企业数据库和进出口海关数据库进行实证检验,结果发现银行业竞争对中国企业出口质量升级发挥"双刃剑"效应。银行业竞争缓解了中国企业的融资约束,这一方面促使持续出口企业进行产品质量升级,另一方面却导致大量低质量企业进入出口市场,最终使银行业竞争对中国企业平均出口质量的提升呈现抑制作用。文章对银行业更好地发挥服务实体经济作用、助力中国出口贸易高质量发展具有重要的现实意义。
In recent years,with the rise of trade protectionism and the surging of economic globalization,the focus of China’s export trade has shifted from quantity expansion to quality improvement.In this context,improving the export quality of enterprises has become an important part of China’s transformation from a big trading country to a powerful trading country.For enterprises,adequate financial support is the basic premise of quality upgrading.Then,in China,where enterprise funds are mainly from bank loans,the improvement of export quality is naturally inseparable from the support of the banking system.Therefore,how to put forward the new path of upgrading the export quality of Chinese enterprises from the perspective of banks is not only related to the implementation effect of China’s trade power strategy,but also the important connotation of constructing the mechanism of"financial services to the real economy".Based on this,this paper analyzes the impact of banking competition on the export quality of Chinese enterprises from the"financial services real economy"perspective.Based on the heterogeneous enterprise trade model,we construct a theoretical model of banking competition affecting the product quality of export enterprises.Then we use the data from China’s Industrial Enterprise Database and China’s Customs Database to do the empirical tests,the result shows that:Firstly,banking competition plays a"double-edged sword"effect on the export quality of Chinese enterprises.Specifically,banking competition eases the financing constraints of Chinese enterprises,which on the one hand promotes export enterprises to upgrade the product quality,on the other hand causes a large number of low-quality enterprises to enter the export market,and finally makes banking competition inhibit the upgrading of the average export quality of Chinese enterprises.Secondly,compared with urban commercial banks and foreign banks,stateowned banks and joint-equity banks have a greater positive effect on the export quality of enterprises.Thirdly,the reformation of banking system in 2003 has greatly reduced the negative impact of banking competition on export quality.In particular,the impact of banking competition on the export quality of state-owned enterprises was significantly positive after 2003.These conclusions not only enrich the relevant research literature of banking competition and export quality,but also provide new empirical evidence for the economic effect of China’s banking joint-stock system reform,which has important practical significance for the banking industry to better play the role of serving the real economy and helping the high-quality development of China’s export trade.
作者
刘慧
王明益
Liu Hui;Wang Mingyi(School of Finance,Shandong University of Finance and Economics,Shandong Jinan 250014,China;School of International Economics and Trade,Shandong University of Finance and Economics,Shandong Jinan 250014,China)
出处
《上海财经大学学报（哲学社会科学版）》
CSSCI
北大核心
2021年第2期61-75,共15页
Journal of Shanghai University of Finance and Economics
基金
国家自然科学基金青年项目(71803098)
山东省人文社科基金项目(20DGJJ01)
山东省泰山学者工程专项经费(tsqn201909135)。
关键词
银行业竞争
融资约束
出口质量
banking competition
financing constraints
export quality
