Opposing firm-level Responses to the China Shock: Horizontal Competition Versus Vertical Relationships?
Opposing firm-level Responses to the China Shock: Horizontal Competition Versus Vertical Relationships?
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DOI：
10.3386/w29196
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发表时间：
2021-08
期刊：
影响因子：
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通讯作者：
P. Aghion;A. Bergeaud;M. Lequien;Marc J. Melitz;Thomas Zuber
中科院分区：
文献类型：
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作者：
P. Aghion;A. Bergeaud;M. Lequien;Marc J. Melitz;Thomas Zuber
我们将“中国冲击”分解为两个组成部分，这两个组成部分会导致暴露于中国出口产品的企业进行不同的调整：一个是影响销售与类似进口中国商品竞争的商品的企业的横向冲击，另一个是影响使用与进口中国商品类似的投入的企业的纵向冲击。结合法国会计，海关和专利信息在公司层面上，我们表明，横向冲击是有害的公司的销售，就业和创新。此外，这种负面影响主要集中在低生产率企业。相比之下，我们发现垂直冲击对企业的销售、就业和创新产生了积极的影响--尽管往往并不显著。
We decompose the “China shock” into two components that induce different adjustments for firms exposed to Chinese exports: a horizontal shock affecting firms selling goods that compete with similar imported Chinese goods, and a vertical shock affecting firms using inputs similar to the imported Chinese goods. Combining French accounting, customs, and patent information at the firm-level, we show that the horizontal shock is detrimental to firms’ sales, employment, and innovation. Moreover, this negative impact is concentrated on low-productivity firms. By contrast, we find a positive effect - although often not significant - of the vertical shock on firms’ sales, employment, and innovation.