| In recent years,as the economic globalization deepens,particularly the establishment of the labor division pattern of global value chain,the global economy has been experiencing an unprecedented period of bloom.However,the economic globalization also gives rise to a series of structural contradictions,among which the unequal income distribution pattern is one of the key issues of academic circles at home and abroad.On the one hand,the economic globalization exacerbates the conflicts of interest among developed countries and between the Global North and the Global South.On the other hand,the uneven distribution of economic benefits within a country also becomes worse with the development of economic globalization.Economic globalization is a dynamic process of the redistribution of economic interest and the realocation of resources,which will affect the individual income distribution pattern within a country and the distribution of international trade interests.While there is still no consensus on the impact of economic globalization on the intra-or inter-country income distribution pattern in the academic community.Moreover,less research has been devoted to integrating the short-term static trade benefits with the long-term dynamic ones especially in the Chinese literature.Although the effect of economic globalization on income distribution within a country has garnered significant research attention,little has studied this problem from the perspective of social classes.Given the paucity of this research perspective and the need for a more comprehensive understanding of the uneven distribution of trade benefits which arise from economic globalization.This paper empirically analyzes effects of economic globalization on the intra-and inter-country income distribution pattern through literature analysis,theoretical analysis,comparative research,micro and macro analyses,qualitative and quantitative analyses,and the main conclusions can be listed as follows.Firstly,based on WDI from World Bank,this paper estimates the net barter terms of trade(NBTT)and the income terms of trade(ITT)of G20 countries from 1980 to2018.It shows,in general,that the NBTT and ITT have been better for all countries.Specially,middle-income countries experienced the greatest improvement in terms of the NBTT,and high-income countries experienced the minimum improvement.With regards to the ITT,low-income countries had the best performance,followed by middle-income countries and the high-income countries had the worst performance.This paper further analyzes the fluctuations of NBTT and ITT based on the HP filter,and finds that the maximum fluctuation of NBTT occurs in middle-income countries,followed by low-income countries,moreover low-income countries'fluctuation range of ITT shows a U-shaped trend after 2000.High-income countries experience the minimum fluctuation range in terms of NBTT or ITT.With China as the case study,this paper uses the variance decomposition model analyzes the factors that influence the fluctuation of NBTT.The results show that medium-and high-technology products'volatility of NBTT plays the dominant role in affecting the overall NBTT of China compared with low-technology products,which suggest the transformation and upgrade of China's export products.Besides,their dramatical fluctuation suggests the intense competition in the world market that China's medium-and high-technology products have to face.In addition,the decomposition attributes over 80%of terms of trade variation to movements in relative country prices,especially the variance from the volatility of the NBTT between China and U.S.,followed by Japan.Lastly,this paper analyzes the relationship between terms of trade and economic growth based on a panel data model.The results show that the short-term volatility plays a negative effect on the economic growth,while the secular trend has no significant effect on it.Secondly,empirical analysis based on WIOD and UIBE GVC Index shows that both GVC embedding position and embedding degree contribute to the improvement in the global trade benefits distribution pattern.However,this improvement is biased across countries with different levels of development.Specially,middle-income countries have a better performance in the contribution of GVC embedding degree to the increase in trade benefits,moreover the regression coefficient of the forward participation in global value chains is larger than the backward one.While low-income countries have the worst performance in improving trade benefits through GVC embedding degree(mainly from the backward participation).The learning-by-doing effect occurs in low-and middle-income countries when these countries have the necessary technological absorptive capacity.In addition,low-income countries have a relative low-end GVC embedding position and their improvement in it plays an insignificant effect on the trade benefits.Thirdly,empirical analysis based on WBES from 2006 to 2019 that covers enterprises from 144 countries shows that firm GVC participation is conducive to enterprises'innovation activities.Specially,enterprises from low-income countries enjoy the most significant improvement in technological advancements.Compared with service enterprises,manufacturing enterprises have made a more remarkable progress in innovation.In terms of the enterprise scale,various sizes of enterprises from low-income countries have made greater progress in innovation,followed by those from high-income countries then middle-income countries.Among various sizes of enterprises,a more positive relationship between GVC participation and innovation exists in smal-and large-scale enterprises compared with medium-scale enterprises.As for the difference between radical and incremental innovation,the coefficient of firm GVC participation based on the subsample of high-income countries is more significant with radical innovation as the dependent variable,while more significant with incremental innovation as the dependent variable based on the subsample of low-income countries.Fourthly,empirical analysis based on PWT 9.1 that examines the role of economic globalization on the pattern of the distribution of national income,the nonlinear influence is also discussed through introducing the quadratic term of trade.The results show that trade openness inhibits the growth of labor share,meanwhile promotes the growth of capital share although without significance.Both effects of trade openness on the labor share and capital share show the diminishing marginal trend in the long run,which may be attributable to the integrative effect of Stolper–Samuelson theorem,technological progress,and the difference in bargaining power of different classes.The regression based on different subsamples shows that trade openness has more significant negative effect on the labor share of countries with lower economic development level and less capital stock,while more significant positive effect on the capital share of countries with more capital stock.In general,the results indicate that the effects of trade openness on labor share is more significant than on capital share.Fifthly,empirical analysis based on CHIP from 1995 to 2013 and an unconditional quantile regression model indicates that the heterogeneous effect of China's trade openness on the wage of different classes exists.The overall wage level increases with the development of international trade,but shows a marginal decline in the growth rate.In 1995,China was not yet a member of the WTO and its level of trade openness was relatively low,the group analysis shows that the negative effect of trade openness on wage of different classes,particularly on the low-income groups.After China became a member of the WTO,trade openness stepped into the accelerated stage,the effect of it on wage reverses.When China's trade openness entered a new phase in 2007,this effect becomes biased and in favor of middle-low income groups,however it becomes negative again in 2013.Further geographical group analysis shows that trade openness is capable of improving the wage of workers in the western region,while brings negative effect on the wage of workers in the central and the east region.With regard to the difference of trade sector and non-trade sector,the wage level is negatively related with trade openness for those who are at the 10th and 90th percentile for wage,and it shows a right skewed“inverted U-shape”,i.e.the impact of trade openness on the medium-wage group is the most stable and consistent in the trade sector.A similar phenomenon also exists in the non-trade sector,which may play a role in regulating the wage gap.The empirical results suggest that economic globalization brings people not only the enormous profits but also a series of negative effects,among which the imbalance of trade benefits distribution pattern and the imbalance of intra-country income distribution pattern are representative ones.Taking the influence of economic globalization on inter-and intra-country income distribution pattern into account,it is necessary to carry out systematic policy construction to reduce the negative effect of economic globalization on income distribution pattern and deal well with the potential international trade conflicts.Then,this paper puts forward five policy suggestions for China and proposed the future research directions in this area. |
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