Analysis Of The Influence Of Domestic Added Value On The Pricing Behavior Of China's Export Enterprises

In recent years,it is exchange rate pass-through and its incompleteness that has been one of the hot issues in international economics,industrial economics and related research.Because it has important political meaning in some aspects which effected by exchange rate changing such as understanding a country's monetary policy(including exchange rate regime),price level and the adjustment of international trade imbalance about the magnitude of exchange rate transmission and the law of change.However,the incompleteness of exchange rate transmission,especially the "pricing to market" theory(and a large number of related studies),which explains it from the microscopic industrial organization theory,has been shown a fact that it can not be only put down to the behavior of market-oriented pricing,which exists in export enterprises.Combined with the new characteristics of China's foreign trade in recent years,it is obviously necessary to discuss with the two questions in the context of the current appreciation of the RMB,whether it has an impact on the behavior of pricing to market via making an inquiry about the two major trends of export enterprises' integration into the global value chain and RMB internationalization and how great the influence is.So in this paper,it comprehensively carries on the contrast analysis about the enterprise export domestic value from three aspects such as the trade mode,the industry category,the industry nature based on the measurement data,which is from the trend that export enterprises are increasingly embedded in the global value chain,revising the problem of trade agents.And then by using the matching data of China's industrial enterprise database and customs database from 2000 to 2010,it also measures the domestic value added of enterprises' exports from the perspective of enterprise heterogeneity again.Secondly,this paper takes the method of panel data to regression,and it also uses the individual fixed effect model to make a analysis to research the heterogeneity and change of export pricing behavior of Chinese export enterprises in the two different situation between considering domestic value-added rate and not considering domestic value-added rate.The empirical results show that:I.Without considering the rate of domestic value added,the general trade has more PTM characteristics than the processing trade.In general,the normal trade has a stronger export PTM characteristic than the processing trade.From the industry level,the export enterprises in this field have significant industrial differences.To be more specific,there is certain international competitiveness among the chemical raw materials and chemical products manufacturing industry,the non-metallic mineral products industry and the automobile manufacturing industry.However,the three industries export the exchange rate reverse transfer phenomenon among the agricultural and subsidiary food processing industry,leather,fur,feather and its products and footwear industry and general equipment manufacturing industry.And their international competitiveness is weak.II.Taking into account the rate of domestic value added,in general,when other conditions remain unchanged,there is generally a positive(in absolute terms)skewed effect of the rate of domestic value added on the export exchange rate of various sectors.That is to say,the greater the domestic value added,the more obvious this bias effect and vice versa.That is to say,in the case of other conditions unchanged,the different domestic attachment rate of enterprises in different industries makes the sensitivity of export prices to exchange rate fluctuations different.Whether from the trade mode or from the industry level,the greater the domestic value added rate,the more complete the exchange rate export transfer effect,the smaller the market pricing level,the stronger the competitiveness and vice versa.Based on the above analysis,this paper finally comes with some rela tive political suggestions from the transformation of trade development mode,improving the quality of foreign investment and cultivating human capital and optimize the structure of trade exports.