The Influence Of Imported Intermediate Goods On Enterprise Exit

With the gradual deepening of production segmentation,more and more countries are linked by investment and trade and form a global production network.China’s enterprises have changed frequently,and while new enterprises have entered the market,a large number of enterprises have closed down.How to solve the problem of high exit rate of Chinese enterprises has become the focus of scholars and policy makers.Imported intermediate goods have advantages in terms of technology spillovers and productivity improvement.Therefore,importing intermediate goods may inhibit the exit of enterprises.Therefore,it is of great research value to analyze the impact of imported intermediates on the exit of enterprises and the differences in their heterogeneous influences and internal mechanisms.Based on the theory of heterogeneous enterprises,this paper theoretically analyzes the influence of imported intermediate goods on enterprise exit.Using the matching data of the Chinese Custom Database and the Industrial Enterprise Database from 2000 to 2006,the panel Probit method is used to empirically analyze the influence of imported intermediate goods on enterprise exit,test its productivity transmission mechanism,and further study the scale of different enterprises.Differences in trade patterns,technical levels,R&D levels,and import-source countries.The research results show that:(1)Imported intermediate goods have a significant inhibitory effect on the exit of enterprises,reduce the probability of exit;(2)Since the imported intermediate goods have the advantage of improving the productivity of the enterprise,the influence of the intermediate goods improves the productivity of the enterprise as a whole,thereby acting on the withdrawal of the enterprise and reducing the risk of exit of the enterprise;(3)In terms of the scale of different enterprises,the importing intermediates have a greater inhibitory effect on the exit of large and medium-sized enterprises than small enterprises;in terms of different trade methods,the importing intermediates have a greater inhibitory effect on the exit of processing trade enterprises than other trading enterprises;in terms of different technical levels Imported intermediate products have different restraining effects on enterprise exit.Importing intermediate products in high-tech industries is more conducive to restraining the withdrawal of enterprises;considering the different levels of R&D,the inhibitory effect of imported intermediate products on enterprise exit is in research and development activities.Enterprises must be larger than those without R&D activities;in terms of import quality,the impact of import intermediates on enterprise exit is affected by importing countries,and imports from OECD countries and developed countries are more likely to be imported than non-OECD countries and developing countries.The inhibition is greater.The research provides micro-empirical evidence and feasible policy basis for further deepening the reform of trade liberalization and improving the overall competitiveness of enterprises.