| Over the past four decades of reform and opening-up,market-oriented institutional innovation has become a decisive factor in improving the competitiveness of export products,and has been the key to China’s great achievements in the development of foreign trade.Laws and regulations related to property rights protection and contract enforcement are the most important systems,which can reduce the uncertainty in the production,promote investment towards specific assets,and provide guarantees for the research and application of technology.This will deepen the division of labor,increase the added value of products effectively,enhance the international competitiveness of export products,and provide a breakthrough for the upgrading of the status of China’s manufacturing division of labor.With the decline of the “demographic dividend”,rising labor costs,and resource and environmental constraints,China’s comparative advantage in foreign trade is weakening,acquiring lower added value and facing the risk of low-end locking.The development of foreign trade will inevitably turn to mainly rely on the “institutional dividend”,and digging deep into the institutional potentials and releasing the “institutional dividend” is the key to stabilizing the development of foreign trade.Current research generally believes that China is under the economy transition period,the institutional environment interacts closely with the enterprises’ production and management,and it is more necessary to give play to the incentives and constraints of the system on the enterprises.Therefore,this dissertation chooses the cross field of institutional economics and international trade to explore the impact of regional institutional quality on the status of China’s manufacturing industry in the international division of labor,and tries to reveal the “black box” between regional institutional quality and the status of China’s manufacturing industry in the global value chain.This can not only improve and supplement the existing theories and build a bridge between regional institutional quality and the global value chain,and improve the international competitiveness of export products,but also speed up the construction of a unified national market.The product competition and trade competition between countries is visible competition,while the invisible system will become the key factor affecting the comparative advantage of products from different regions.Compared with previous studies,this dissertation tries to construct a theoretical analytical framework of regional institutional quality affecting the status of manufacturing Global Value Chains(GVCs),argues that regional institutional quality elevates the status of manufacturing GVCs by increasing the domestic value added rate of manufacturing exports and the position of GVCs.The focus is on revealing the spatial spillover effects and the mechanism of regional institutional quality on the status of manufacturing GVCs,with particular attention to the mechanisms of spatial spillover effects.This is something that has not yet been addressed by existing studies and is a possible innovation of this dissertation.Although the law is nationally uniform,there are certain differences in the historic environment,factor endowment,and administrative management system among provinces,which lead to large differences in the efficiency of implementing institutions among provinces.Against the background of the differences in institutional quality among provinces,this dissertation firstly conducts characteristic analysis of regional institutional quality and the status of manufacturing GVCs,adopts enterprise data,and uses quantitative analysis methods such as fixed effects model,threshold panel regression model,spatial durbin model,and mediation effects model as the research tools to test the impact,spatial spillover effect and the mechanism of regional institutional quality on the status of manufacturing GVCs.The following conclusions are drawn.First,regional institutional quality shows a continuous upward trend,but there are significant regional differences;the status of the manufacturing industry in the global value chain is improving,but it is still at the low end of the international division of labor system.Provinces(municipalities,autonomous regions)with higher institutional quality are basically located in the eastern developed regions,and provinces(municipalities,autonomous regions)with lower institutional quality are basically located in the western and northeastern regions.Further research finds that the quality of institution in the eastern,central,and western regions is continuously rising,but there are significant differences among the regions.The international division of labor of China’s manufacturing industry is constantly improving,but it is still at the low end of the international division of labor system.The relatively significant differences in the status of global value chain of firms in different factor-intensive industries,firms with different ownership,firms belonging to different regions,and firms with different trade modes may make the impact of regional institutional quality on the status of the manufacturing industry in the international division of labor different.Second,perfect regional institutional quality is promoting the status of China’s manufacturing industry in global value chains,but there are significant differences in the impact on different industries and enterprises.Among them,regional institutional quality has a stronger effect on the international division of labor status of industries with higher contract intensity and technology intensity;regional institutional quality has a stronger effect on the global value chain status of foreign-funded firms,firms in the eastern region,general trade firms,and large-scale firms.At the same time,the information infrastructure makes the regional institutional quality have a non-linear impact on the manufacturing industry’s international division of labor status.This means that the actual situation of different industries and enterprises should be taken into account,relying on the construction of information infrastructure,to give full play to the role of regional institutional quality in improving the status of manufacturing global value chains.Thirdly,there is a positive spatial spillover effect of regional institutional quality on the manufacturing industry’s status in global value chains,with significant regional and temporal differences.Among them,the spatial spillover effect of institutional quality on the status of manufacturing international division of labor is positive in the eastern and central regions,and negative in the western region;from 2000-2007 to 2008-2013,the estimated coefficient of the spatial lag term of regional institutional quality has changed from being significantly positive to failing the significance test.At the same time,regional institutional quality produces spatial spillover effects on the manufacturing industry’s status in global value chains through the mechanisms of knowledge spillover,transaction cost reduction and resource allocation.Fourth,the technological innovation mechanism of regional institutional quality realizes the enhancement of China’s manufacturing industry’s status in the global value chain by improving enterprises’ technological innovation inputs and technological innovation outputs,and the mediating effect of technological innovation outputs is greater than that of technological innovation incomes.Regional institutional quality also realizes the enhancement of manufacturing industry’s international division of labor status through the mechanism of human capital,the mechanism of transaction cost reduction,and the mechanism of labor productivity enhancement,but there are significant differences in the mechanism of different ownership and trade mode enterprises.This suggests that it is necessary to choose the optimal channel to realize the promotion effect of regional institutional quality on the international division of labor in the manufacturing industry according to the characteristics of enterprises.Based on the above conclusions,targeted policy recommendations are put forward: to promote local administrative reform and deepen institutional innovation in an integrated and balanced manner;to continue to optimize the business environment and fully stimulate the vitality of the development of private enterprises;to improve the public service system and accelerate the construction of information infrastructure;to ensure the effectiveness contract enforcement and build institutional trust;to protect intellectual property and provide rule-of-law safeguards;to strengthen the inter-regional system of innovation and cooperation and to break up the local administrative monopoly;to optimize the distribution of human resources and improve the talent incentive mechanism;to pay attention to the technological innovation effect of regional institutional quality and tap the innovation potential of manufacturing enterprises. |
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