Research On The Impact Of Financial Leasing Penetration To The Export Competitiveness Of The Equipment Manufacturing Industry

According to the statistics of the WTO,China is the biggest victim of trade protectionism,and has been the country with the most anti-dumping investigation for 21 years.The trade dispute has formed a severe challenge to the export of related industries.In recent years,the financial leasing industry in China has risen rapidly and has become a dazzling star in the economic system of the new period.Financing lease can combine financing and Finance with its unique advantages.It is expected to become a new engine of our export trade in the future.The main industry of financing leasing is equipment manufacturing industry.The impact of leasing on the export competitiveness of equipment manufacturing industry is necessary and urgent.The thesis is divided into five parts.Based on the relevant research literature,the main points,achievements and shortcomings of the literature are summarized.First,the development level and export trade of China’s equipment manufacturing industry are analyzed,and the evaluation model of export competitiveness of equipment manufacturing industry is established.Secondly,compared with the related conditions of financial leasing in North and Western Europe,the development of the internal market of financial leasing in China is explored,and the development of the external market of financing lease is explored through import and export trade,and the influence mechanism of financing lease permeability on the export competitiveness of equipment manufacturing industry is explored by the two entry points.The mechanism is embodied in seven aspects: macro,micro,internal and external four perspectives.Accordingly,a research system combining theoretical research with empirical research is constructed.Finally,we establish the error correction model.By using the relevant data from 1992 to 2016,the evaluation system of the export competitiveness of the equipment manufacturing industry is established by the grey relational grade model,and the comprehensive evaluation index is determined.Then the financial leasing permeability is divided into three parts.They are the permeability of financing lease GDP,the permeability of the import trade of financing lease,the permeability of the export trade of financing leasing.We use these index to establish VECM and evaluate the influence of the financial lease permeability on the export competitiveness of the equipment manufacturing industry from two aspects of internal market and external market.We evaluate the impact of financing lease permeability on the export competitiveness of equipment manufacturing industry,and carry out model conclusion analysis,impulse response function analysis,variance analysis,stability test and comparative analysis.From two perspectives of long and short term,the following conclusions are made as follows: the export competitiveness of the equipment manufacturing industry has a long-term equilibrium relationship with the permeability of financing lease import trade and export trade,and the development of the financing lease trade can enhance the export competitiveness of the equipment manufacturing industry.The long-term equilibrium relationship between the export competitiveness of the equipment manufacturing industry and financing lease GDP permeability is not significant,which is rooted in the low development level of financial leasing in China.The long-term equilibrium relationship between the export competitiveness of the equipment manufacturing industry and the permeability of financial leasing market is established in America.The above correlation is not significant in the short term,but the long-term equilibrium of financial leasing permeability and the export competitiveness could adjust the short-term fluctuations.Based on the conclusion,we put forward development suggestions.