“The Belt and Road” Initiative and Domestic Value Added in China's Export

Lv Yue, Wang Mengyuan

Studies of International Finance ›› 2023, Vol. 0 ›› Issue (1) : 16-27.

PDF(1230 KB)
PDF(1230 KB)
Studies of International Finance ›› 2023, Vol. 0 ›› Issue (1) : 16-27.

“The Belt and Road” Initiative and Domestic Value Added in China's Export

  • Lv Yue1, Wang Mengyuan2
Author information +
History +

Abstract

In recent years, the development of global value chains (GVC) has faced greater challenges and obstacles. It is urgent to seek new growth impetus to deepen trade cooperation and achieve Chinese industrial upgrades in GVC. The Belt and Road Initiative (BRI) proposed by China in 2013 is an effort to strengthen economic integration with a major task of promoting trade cooperation. From the perspective of the global value chain, this paper investigates the effect of the Belt and Road Initiative on China's export domestic value added.
Based on bilateral trade data from the Asian development bank (ADB) for 35 sectors in 61 economies from 2007 to 2019, this paper investigates how BRI affects China's export domestic value added by using the DID model and explores its internal mechanism. Firstly, it is found that the BRI has a significant promoting effect on China's export domestic value added, and the conclusion is still stable after a series of robust tests. Secondly, the results of the mechanism analysis show that the BRI Initiative promotes domestic value added of China's exports mainly by reducing trade costs and attracting foreign investment. Thirdly, this paper further examines the impact of BRI on China's export domestic value added in different sectors. It is found that the promotion effect is not concentrated in priority sectors such as infrastructure construction, which contributes to the growth of export domestic value added in various sectors. Fourthly, the BRI also promotes the creation of domestic value added exports from countries along the route, which is consistent with the vision of the BRI to build a community of shared future for humankind and promote inclusive growth in all participating countries.
This paper provides a new research perspective for comprehensively evaluating the economic effects of the Belt and Road Initiative. The conclusions of this paper not only help improve the domestic value added of China's export, but also provide useful enlightenment for steadily promoting the modernization level of the industrial supply chain and constructing a mutually beneficial supply chain cooperation system.

Key words

Export Domestic Value-Added / Differences-in-Differences Model / "The Belt and Road"Initiative

Cite this article

Download Citations
Lv Yue, Wang Mengyuan. “The Belt and Road” Initiative and Domestic Value Added in China's Export[J]. Studies of International Finance, 2023, 0(1): 16-27

References

[1] 戴翔,刘梦,张为付. 本土市场规模扩张如何引领价值链攀升?[J]. 世界经济,2017(9):27-50
[2] 戴翔,宋婕. “一带一路”有助于中国重构全球价值链吗?[J]. 世界经济研究,2019(11):108-121+136
[3] 戴翔,宋婕. “一带一路”倡议的全球价值链优化效应——基于沿线参与国全球价值链分工地位提升的视角[J]. 中国工业经济,2021(06):99-117
[4] 董艳梅,朱英明. 高铁建设能否重塑中国的经济空间布局:基于就业、工资和经济增长的区域异质性视角[J]. 中国工业经济,2016,(10):92-108
[5] 谷军健,赵玉林. 金融发展如何影响全球价值链分工地位?——基于与科技创新协同的视角[J]. 国际金融研究,2020(07):35-44
[6] 韩峰,庄宗武,李丹. 国内大市场优势推动了中国制造业出口价值攀升吗?[J]. 财经研究,2020,46(10):4-18
[7] 洪俊杰,詹迁羽. “一带一路”设施联通是否对企业出口有拉动作用?——基于贸易成本的中介效应分析[J]. 国际贸易问题,2021(9):138-156
[8] 胡再勇,付韶军,张璐超. “一带一路”沿线国家基础设施的国际贸易效应研究[J]. 数量经济技术经济研究,2019,36(02):24-44
[9] 黄先海,余骁. 以“一带一路”建设重塑全球价值链[J]. 经济学家,2017(3):32-39
[10] 孔庆峰,董虹蔚. “一带一路”国家的贸易便利化水平测算与贸易潜力研究[J]. 国际贸易问题,2015(12):158-168
[11] 金刚,沈坤荣. 中国企业对“一带一路”沿线国家的交通投资效应:发展效应还是债务陷阱[J]. 中国工业经济,2019(9):79-97
[12] 李胜旗,毛其淋. 制造业上游垄断与企业出口国内附加值——来自中国的经验证据[J]. 中国工业经济,2017(3):101-119
[13] 李小帆,蒋灵多. “一带一路”建设、中西部开放与地区经济发展[J]. 世界经济,2020,43(10):3-27
[14] 李艳,柳士昌. 全球价值链背景下外资开放与产业升级——一个基于准自然实验的经验研究[J]. 中国软科学,2018(8):165-174
[15] 刘斌,王乃嘉,李川川. 贸易便利化与价值链参与——基于世界投入产出数据库的分析[J]. 财经研究,2019,45(10):73-85
[16] 刘友金,尹延钊,曾小明. 中国向“一带一路”国家产业转移的互惠共生效应——基于双边价值链升级视角的研究[J]. 经济地理,2020,40(10):136-146
[17] 刘志彪,吴福象. “一带一路”倡议下全球价值链的双重嵌入[J]. 中国社会科学,2018(8):17-32
[18] 卢盛峰,董如玉,叶初升. “一带一路”倡议促进了中国高质量出口吗?——来自微观企业的证据[J]. 中国工业经济,2021(03):80-98
[19] 罗伟,吕越. 外商直接投资对中国参与全球价值链分工的影响[J]. 世界经济,2019,42(5):49-73
[20] 吕冰,陈飞翔. CAFTA对中国企业出口国内附加值率的影响[J]. 财贸经济,2021,42(6):133-149
[21] 吕越,陆毅,吴嵩博,王勇. “一带一路”倡议的对外投资促进效应——基于2005—2016年中国企业绿地投资的双重差分检验[J]. 经济研究,2019,54(9):187-202
[22] 吕越,吕云龙,包群. 融资约束与企业增加值贸易——基于全球价值链视角的微观证据[J]. 金融研究,2017(5):63-80
[23] 吕越,盛斌,吕云龙. 中国的市场分割会导致企业出口国内附加值率下降吗?[J]. 中国工业经济,2018(5):5-23
[24] 吕越,王梦圆. “一带一路”倡议与海外留学生来华:因果识别与机制分析[J]. 教育与经济,2022,38(1):11-20
[25] 吕越,尉亚宁. 全球价值链下的企业贸易网络和出口国内附加值[J]. 世界经济,2020,43(12):50-75
[26] 吕云龙,吕越. 上游垄断会阻碍“中国制造”的价值链跃升吗?——基于价值链关联的视角[J]. 经济科学,2018(6):44-55
[27] 马述忠,张洪胜,王笑笑. 融资约束与全球价值链地位提升——来自中国加工贸易企业的理论与证据[J]. 中国社会科学,2017(1):83-107+206
[28] 毛其淋,许家云. 外资进入如何影响了本土企业出口国内附加值?[J]. 经济学(季刊),2018,17(4):1453-1488
[29] 毛其淋,许家云. 贸易自由化与中国企业出口的国内附加值[J]. 世界经济,2019,42(1):3-25
[30] 毛其淋. 人力资本推动中国加工贸易升级了吗?[J]. 经济研究,2019,54(1):52-67
[31] 欧定余,田野. “一带一路”国家全球价值链中的中国角色——基于国家间投入产出表的分析[J]. 经济科学,2020(4):19-32
[32] 彭冬冬,林珏. “一带一路”沿线自由贸易协定深度提升是否促进了区域价值链合作?[J].财经研究,2021,47(2):109-123
[33] 邵朝对,苏丹妮. 产业集聚与企业出口国内附加值:GVC升级的本地化路径[J]. 管理世界,2019,35(8):9-29
[34] 邵朝对,苏丹妮,李坤望. 服务业开放与企业出口国内附加值率:理论和中国证据[J].世界经济,2020,43(8):123-147
[35] 盛斌,景光正. 金融结构、契约环境与全球价值链地位[J]. 世界经济,2019,42(4):29-52
[36] 王直,魏尚进,祝坤福. 总贸易核算法:官方贸易统计与全球价值链的度量[J]. 中国社会科学,2015(9):108-127
[37] 许和连,成丽红,孙天阳. 制造业投入服务化对企业出口国内增加值的提升效应——基于中国制造业微观企业的经验研究[J]. 中国工业经济,2017(10):62-80
[38] 杨继军,刘依凡,李宏亮. 贸易便利化、中间品进口与企业出口增加值[J]. 财贸经济,2020,41(4):115-128
[39] 于津平,张艳艳. “一带一路”国家铁路联通对中国出口的影响[J]. 世界经济与政治论坛,2021(1):147-172
[40] 余淼杰,崔晓敏. 人民币汇率和加工出口的国内附加值:理论及实证研究[J].经济学(季刊),2018,17(3):1207-1234
[41] 张杰,陈志远,刘元春. 中国出口国内附加值的测算与变化机制[J]. 经济研究,2013,48(10):124-137
[42] 张鹏杨,唐宜红. FDI如何提高我国出口企业国内附加值?——基于全球价值链升级的视角[J]. 数量经济技术经济研究,2018,35(7):79-96
[43] 张晓静,李梁. “一带一路”与中国出口贸易:基于贸易便利化视角[J]. 亚太经济,2015(3):21-27
[44] 郑乐凯,汪亚楠,李世林,张铭心. 金融结构、技术进步与全球价值链地位提升[J]. 国际金融研究,2021(7):36-45
[45] 周茂,陆毅,杜艳,姚星. 开发区设立与地区制造业升级[J]. 中国工业经济,2018(3):62-79
[46] 诸竹君,黄先海,余骁. 进口中间品质量、自主创新与企业出口国内增加值率[J]. 中国工业经济,2018(8):116-134
[47] Alfaro-Urena A,Manelici I,Vasquez J P.The Effects of Joining Multinational Supply Chains: New Evidence from Firm-to-Firm Linkages[J]. Available at SSRN 3376129,2020
[48] Baniya S,Rocha N,Ruta M.“Trade Effects of the New Silk Road: A Gravity Gnalysis”. Journal of Development Economics,2020,146:102467
[49] Bertrand M,Duflo E,Mullainathan S.Mullainathan. How Much Should We Trust Differences-in-Differences Estimates[J]. Quarterly Journal of Economics,2004,119(1):249-275
[50] Dennis A,Shepherd B.Trade Facilitation and Export Diversification[J]. The World Economy,2011,34(1):101-122
[51] De Soyres F,Mulabdic A,Murray S,et al.How Much Will the Belt and Road Initiative Reduce Trade Costs?[J]. International Economics2019,159:151-164
[52] Kee H L,Tang H.Domestic Value Added in Exports: Theory and Firm Evidence from China[J]. 2016,106(6):1402-1436
[53] Koopman R,Wang Z,Wei S J.Estimating Domestic Content in Exports When Processing Trade Is Pervasive[J]. Journal of Development Economics,2012,99(1):178-189
[54] Lu Y,Tao Z,Zhu L.Identifying FDI spillovers[J]. Journal of International Economics,2017,107(1):75-90
[55] Lu Y,Yu L.Trade Liberalization and Markup Dispersion:Evidence from China's WTO Accession[J]. American Economic Journal:Applied Economics,2015,7(4):221-53
[56] Lv Y,Gu W,Zeng K.Does the Belt and Road Initiative Promote Bilateral Political Relations?[J]. China & World Economy,2021,29(5):57-83
[57] Smarzynska Javorcik B.Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers through Backward Linkages[J]. American Economic Review, 2004, 94(3): 605-627
[58] Xing Y,Detert N C.How the iPhone Widens the United States Trade Deficit with the People's Republic of China[R].ADBI Working Paper,No.257,2010
PDF(1230 KB)

44

Accesses

0

Citation

Detail

Sections
Recommended

/