Research On The Efficiency Of Contract Enforcement And The Promotion Of Global Value Chain In China's Manufacturing Industry

Since 2009.China's manufacturing industry has been expanding and becoming a global manufacturing power.However.the "2015 China Power Industry Development Index Report" proposed that the current situation in China's manufacturing industry is not optimistic.faced with the double pressure from both developed and developing countries.China's economic entered into a new normal.just at the important stage of transformation and upgrading.The importance of the development level of China's manufacturing industry and the quality of development is self-evident.How to achieve such a smooth development.as well as to optimize the industrial structure to the high-end.manufacturing has become one of the key link.To make China's manufacturing industry successfully shift from the "quantitative growth" to "quality improvement" become the most important issue.In the context of the study of incomplete contract theory and international trade theory.this paper focuses on the efficiency of contract enforcement and studies its problem of raising the value chain of Chinese manufacturing industry.First of all.this article defines contract enforcement efficiency to determine the object of study.the ranking of "Global Business Report" was used as a comprehensive measure of a country's contract enforcement efficiency.Secondly.the theory of generalized comparative advantage and the theory of incomplete contract are used in the theoretical analysis.and the efficiency of contract enforcement is considered to be helpful to form one country's comparative advantage.The export efficiency model is introduced by introducing the efficiency of contract enforcement.The efficiency of contract enforcement can be applied to the production cost of a country's products and cause differences in the total exports of different countries.The efficiency of contract enforcement is closely related to the total export volume of a country.and the increase in efficiency can lead to an increase in total exports.In the empirical analysis.the paper analyzes the export value of China's manufacturing industry in each country's sub-sector from 1999 to 2011.and uses the method of categorization to calculate domestic added value of labor-intensive.capital-intensive and technology-intensive Manufacturing exports;and further decomposes the domestic added value of the final product exports implied.intermediate goods implied as well as in the final return part.then perform a robustness test.Based on theoretical analysis and the factors affecting the value chain.the fixed effect model is selected to carry out the empirical test.The relationship between the efficiency of the contract enforcement and the total domestic value added is examined.Then.the efficiency of the contract enforcement and the sub-Export the value of domestic relations.The empirical results show that: First.there is a positive impact on the efficiency of contract enforcement in a country and its domestic value added in its manufacturing sector.Second.in the manufacturing sector.technology-intensive industries are more susceptible to contract enforcement efficiency.Thirdly.in the classification of all the sample countries.the efficiency of contract enforcement is more significant in high-income countries.Finally.according to the empirical results.the current situation of the contract enforcement efficiency and the different factors of the global value chain promotion.from the promotion of contract enforcement efficiency and technology.etc.put forward the suggestions such as to create a good international business environment.to pull up the overall system construction level.to improve the efficiency of the implementation of the contract and enhance the innovative investment.to further contribute to the manufacturing value chain.