| On February 22,2017,the Protocol to the Trade Facilitation Agreement came into effect,and it became the first landmark multilateral trade agreement since the establishment of the WTO.The entry into force and implementation of the Trade Facilitation Agreement are of great significance to improving the transparency of global trade policies,improving the efficiency of border measures,reducing trade costs,and improving the modernization and standardization of infrastructure such as customs.For more than ten years,China has been committed to trade facilitation reforms.It has promoted a number of institutional,policy,working mechanism,and technical reform measures in the field of trade facilitation.It has launched trade facilitation reforms in multiple regions and areas practice.On September 4,2015,China submitted to the WTO an instrument of acceptance of the Protocol to the Trade Facilitation Agreement,marking China as the 16 th member of the Protocol.According to the "Global Business Environment Report 2020" released by the World Bank,China's business environment has increased significantly from 78 to 31 during 2017-2019,which fully demonstrates the remarkable results achieved by China's trade facilitation reform.Since the late 20 th century,the global trade and investment pattern has undergone profound changes.The share of global value chain production activities in global production has increased significantly,and its share in global economic trade has continued to rise.The UNCTAD's 2013 World Investment Report states that multinational companies have restructured their production networks around the world through global investment,forming a global value that focuses on the trade of intermediate products and manufactured goods,its global value chain dominates about 80% of global trade.After China's entry into the WTO in 2001,the proportion of China's manufacturing in global trade has continued to rise,China has played an important role in the global value chain's production activities,becoming one of the few developing countries that participates in global value chains.Is the huge change in China's global value chain related to the reduction of trade costs caused by the vigorous implementation of trade facilitation policies? If so,what are the relevant characteristics? Has trade facilitation lowered the threshold for companies to participate in global value chains,thereby promoting more companies to participate in global value chains? Has trade facilitation deepened the participation of enterprises in global value chains? Has trade facilitation extended the duration of companies' participation in global value chains? At present,there are still insufficient researches in academia on trade facilitation and enterprises' participation in global value chains,and it is necessary to conduct in-depth discussions.Therefore,in the context of China's accession to the WTO's Trade Facilitation Agreement,exploring the impact of trade facilitation on enterprises' participation in global value chains and promoting more enterprises to participate in global value chains is a very worthwhile topic.Based on the heterogeneous enterprise trade theory,this dissertation uses a combination of theoretical and empirical research methods to explore the impact mechanism of China's trade facilitation on enterprises' participation in global value chains,and provides a theoretical basis for the government to formulate related policies.The research ideas of this dissertation are: First,based on the literature review and review,an in-depth analysis of the impact mechanism of trade facilitation on enterprises' participation in global value chains from the theoretical level,and put forward three theoretical hypotheses to be verified.Secondly,based on the analysis of data and characteristic facts of China's trade facilitation and corporate participation in global value chains,an econometric model was constructed to test the impact of trade facilitation on corporate participation in global value chains.Finally,according to the research conclusions,corresponding countermeasures are proposed.According to the research ideas,the structure of this article is as follows:The introduction section briefly introduces the research background and significance of this article,the research content,research framework and main research methods,as well as innovations and deficiencies.The first chapter is a review of three types of literature on trade facilitation,trade facilitation,and global value chain and corporate participation in global value chain research.The first type of literature is the research on the connotation of trade facilitation and its main impacts.It focuses on the analysis of the impact of trade facilitation on trade costs,trade flows and heterogeneous enterprises.The second type of literature is related to trade facilitation and global value chain participation.Research,including related research on global value chain participation in four aspects: legal environment,customs efficiency,transportation infrastructure and e-commerce applications;the third type of literature is related research on corporate participation in global value chains,covering factors related to corporate participation in global value chains,Degree of participation,and duration of participation are three literatures that are closely related to the study of this article;Finally,a brief review of the literature.The second chapter is the impact mechanism of trade facilitation on enterprises' participation in global value chains.This part is the theoretical basis of this article.On the basis of heterogeneous corporate trade theory,it expands the theoretical model of Kasahara,Lapham(2013),and discusses trade facilitation by reducing the fixed cost of import and export of enterprises,improving corporate productivity,and reducing corporate participation in the world.The mechanism of the value chain threshold.Analyze the impact of reducing the import and export fixed costs of different types of enterprises through trade facilitation on the extent to which enterprises participate in global value chains,further demonstrating the impact of trade facilitation by reducing fixed costs,increasing the value added by enterprises exporting abroad,and increasing the degree of enterprises participating in global value chains mechanism.Demonstrated the mechanism by which trade facilitation helps companies import more intermediate products by reducing fixed costs,thereby increasing corporate productivity,and extending their participation in global value chains through various effects.According to the above mechanism analysis,three theoretical hypotheses to be tested are obtained,which provide theoretical basis for subsequent empirical tests.The third chapter is data and characteristic facts.First,the data sources and data processing methods required to test the theoretical hypotheses proposed in this article are introduced.Secondly,construct four indicators of the legal environment,customs efficiency,transportation infrastructure,and e-commerce applications involved in trade facilitation,measure the overall level of China's and regional trade facilitation development from 2000 to 2007,and characterize its characteristics and facts.Third,re-evaluate corporate productivity and characterize the facts of China's manufacturing enterprise productivity.Then,it measures the extent to which enterprises participate in global value chains,and characterizes the facts that China's enterprises participate in global value chains.Finally,the data processing method of enterprise participation in global value chain duration is described and measured,and the characteristic facts of China's enterprise participation in global value chain duration are described.The fourth chapter is an empirical analysis of the impact of trade facilitation on enterprises' participation in global value chain decision-making.By establishing a measurement model and combining enterprise panel data,the Probit model is used to regress variables to empirically study the trade facilitation composite index and other four areas of trade facilitation indicators such as the legal environment,customs efficiency,transportation infrastructure and e-commerce applications.The impact of corporate productivity and trade facilitation and productivity on corporate participation in global value chain decisions.In addition,we also conducted an expansion analysis to expand from three aspects of enterprise ownership,region,and industry,and studied the impact of trade facilitation on enterprises of different ownership,regions and industries to participate in global value chain decisions,thereby verifying the first Theoretical hypothesis.The fifth chapter is an empirical analysis of the impact of trade facilitation on the extent to which companies participate in global value chains.By establishing an econometric model and combining panel data with the company,a double-constrained Tobit model is used to regress the variables,an empirical study of the impact of trade facilitation on extent to which companies participate in global value chains.Similarly,we also conduct sub-sample empirical tests based on the characteristics of different ownerships of enterprises,different regions and different endowment factors.While verifying the second theoretical hypothesis,we are thinking for China's policy makers from perspective of trade facilitation.Formulate policies to promote in-depth participation of China's companies in global value chains and enhance foreign trade competitiveness.Chapter Sixth is an empirical analysis of the impact of trade facilitation on the duration of enterprises' participation in global value chains.By establishing an econometric model and combining panel data with the company,we mainly use the random-effect discrete-time Cloglog model to regress variables,empirically analyze the impact of trade facilitation and other factors on the duration of China's companies' participation in global value chains.Use two different samples to participate in the duration of the global value chain and the only one to participate in the duration of the global value chain.Qualitative inspection.Furthermore,the estimation of the mediating effect model tests that increasing corporate productivity is an important mechanism to extend the duration of corporate participation in global value chains,thereby validating the third theoretical hypothesis.Finally,the main conclusions,suggestions and research prospects.This part summarizes the full text,summarizes the main research conclusions of the full text,and puts forward countermeasures and suggestions based on this,and looks forward to future research work.The conclusions drawn in this article include:First,trade facilitation has lowered the threshold for enterprises to participate in global value chains,which is conducive to more enterprises to participate in global value chains.The decline in fixed import and export costs caused by trade facilitation is an important factor for companies to participate in global value chain decisions.Trade facilitation will help companies import more intermediate products,which will increase corporate productivity,thereby promoting more enterprises to participate in global value chains.According to the empirical examination of the decision-making of enterprises participating in the global value chain,it is found that the estimated coefficients of trade facilitation indicators in the other four areas,such as the comprehensive index of trade facilitation,legal environment,customs efficiency,transportation infrastructure and e-commerce applications,are all significantly positive This shows that the overall development level of China's trade facilitation has played a positive role in promoting enterprises' participation in global value chains.The estimated coefficients of the interaction terms of corporate productivity,trade facilitation composite index,and corporate productivity are all significantly positive,indicating that China's trade facilitation reform has facilitated the import of more foreign intermediate inputs by enterprises,increased corporate productivity,and reduced corporate participation.Global value chain threshold.Trade facilitation not only facilitates low-productivity enterprises to participate in global value chains,but also facilitates high-productivity enterprises to participate in global value chains.It has a more significant promotion effect on foreign-funded enterprises and enterprises in eastern coastal regions.This study found that more The extensive participation of enterprises in global value chains provides a theoretical basis.Second,trade facilitation has increased the value added by companies' exports abroad,which is conducive to their deepening participation in global value chains.The improvement of China's overall level of trade facilitation and the improvement of trade facilitation in the legal environment,customs efficiency,transportation infrastructure,and e-commerce applications will help companies reduce the cost of imported intermediate goods,increase the value-added rate of foreign exports of enterprises,and increase The depth of corporate involvement in global value chains.In the overall sample inspection and the inspection using three different measurement methods of the company's export value-added rate abroad,it has been verified that the improvement of the level of trade facilitation has a positive impact on the depth of enterprises' participation in global value chains.Further,in conducting heterogeneity tests on enterprises of different types of ownership,enterprises in different regions,and enterprises in different industries,it was found that trade facilitation has the greatest impact on the degree of participation of foreign companies,enterprises in the eastern region,and companies in technology-intensive industries in the global value chain.Third,trade facilitation has improved the survival probability of enterprises,which is conducive to extending the duration of participation in global value chains.Trade facilitation helps to reduce the fixed cost of imported intermediate goods,and helps enterprises to increase productivity and technology spillover effects and scale expansion effects caused by imported intermediate goods.It also increases the survival probability of enterprises,thereby extending their participation in global value chains.time.Empirical tests have found that the comprehensive index of trade facilitation has a significant impact on the duration of China's companies' participation in global value chains,indicating that an increase in the level of trade facilitation is conducive to reducing the risk of failure of enterprises to participate in global value chains and to extend the time for enterprises to participate in global value chains.The four areas of the legal environment,customs efficiency,transportation infrastructure,and e-commerce applications involved in trade facilitation have extended the duration of China's companies' participation in global value chains to varying degrees.Furthermore,the estimation results of the mediation effect model also confirm that improving corporate productivity is an important channel to extend the duration of corporate participation in global value chains.In view of the above research conclusions,combined with the current characteristics of China's promotion of trade facilitation reform and the participation of enterprises in global value chains,this article proposes the following countermeasures: First,vigorously promote China's trade facilitation reform and promote more enterprises to participate in global value The second is to improve the legal environment and ensure the deep integration of enterprises' rights and interests in the global value chain.The third is to improve the efficiency of customs and increase the benefits of enterprises participating in the global value chain.The fourth is to accelerate the construction of transportation infrastructure and improve the efficiency of enterprises to participate in the global value chain.Promote cross-border e-commerce and create new opportunities for enterprises to participate in the value chain in depth;Six is to enhance corporate productivity and promote their participation in the global value chain. |
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