Importing Exporters and Exporting Importers: A Study of the Decision of Chinese Firms to Engage in International Trade
Importing Exporters and Exporting Importers: A Study of the Decision of Chinese Firms to Engage in International Trade
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DOI：
10.1111/roie.12374
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发表时间：
2018-09
期刊：
影响因子：
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通讯作者：
Robert J. R. Elliott;N. Horsewood;Liyun Zhang
中科院分区：
文献类型：
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作者：
Robert J. R. Elliott;N. Horsewood;Liyun Zhang
本文以一组中国制造业企业为样本，考察了进出口之间复杂而相互依赖的关系。我们在解决内生初始条件问题的动态随机效应双变量概率框架内估计同时进口和出口的决策。结果表明，出口和进口决策是同时决定的，沉没进入成本在企业进入国际市场的决策中起着重要作用。出口成本更高。我们还发现这两个决策之间存在替代效应。对于财政拮据的私营企业来说，出口和进口之间的可替代性更大。
This paper examines the complex and interdependent relationship between importing and exporting for a panel of Chinese manufacturing firms. We estimate the decision to import and export simultaneously within a dynamic random‐effects bivariate probit framework addressing the endogenous initial conditions problem. Results show that decisions to export and import are simultaneously determined and that sunk‐entry costs play a significant role in a firm's decision to enter international markets. Costs are larger for exporting. We also find a substitution effect between the two decisions. The substitutability between exporting and importing is greater for financially constrained private firms.