Research On The Impact Of Institutional Differences On China's High-end Technology Product Export

Expanding the export trade of high-end technology products is China’s strategic choice to comply with the new round of scientific and technological revolution and industrial reform,reshape the new advantages of manufacturing development,and build a powerful trading country.Because the political,economic,legal,cultural and other institutional environments of the countries along the export route are particularly rich,diverse and complex,many trade links of China’s high-end technology products face serious obstacles.With the rise of institutional economics,how to understand and grasp the export trade characteristics of China’s high-end technology products from the perspective of institutional differences,and then seek new growth poles,has become an important issue to be solved by the Chinese government and relevant enterprises.Based on this,this paper focuses on the impact of institutional distance on China’s high-end technology products export trade.On the basis of refining the theory and analyzing the characteristics of the facts,this paper empirically analyzes and examines the impact of institutional distance on the export scale,ternary margin and efficiency of China’s high-end technical products from the formal and informal dimensions,and tests and analyzes the empirical results from multiple aspects,such as geographical,industrial and institutional distance.On this basis,the policy recommendations to promote the development of China’s high-end technology products export trade are summarized.The main research conclusions of this paper are as follows:First,from the perspective of the institutional environment of the sample countries and the characteristics of China’s high-end technology exports,we can see that:(1)The formal institutional distance between China and the sample countries are positively correlated with the economic level,while the informal institutional distance are positively correlated with the geographical distance.(2)The development process of China’s export trade of high-end technology products presents six stages: “vacuum period-incubation period-preliminary development period-rapid development period-crisis response period-steady climbing period”.(3)The higher level and level of China’s export structure of high-end technology products are in South America,Asia and emerging markets such as the “Belt and Road”(BRI).(4)The extensive margin of China’s high-end technology products exports has shown a growth trend.The driving effect of price margin on export growth has time heterogeneity,while the driving effect of quantity margin on export growth has industry and regional heterogeneity.Secondly,from the perspective of the impact of institutional distance on the export scale of China’s high-end technology products,we can see that:(1)Formal and informal institutional distance have significantly promoted the increase of export scale.(2)From the regional perspective,the promotion effect of formal institutional distance on export scale is mainly reflected in Europe,North America,South America,the BRI and the Non-BRI regions,while the promotion effect of informal institutional distance is mainly reflected in Africa.(3)From the perspective of industry dimension,the export effect of the differences between formal and informal institutions shows obvious heterogeneity,the export promotion effect of formal institutions is more significant,and the export inhibition effect of informal institutional distance is more significant.(4)From the perspective of institutional distance,the export promotion effects of expression and accountability,government efficiency,corruption control and power distance are more significant,while the export inhibition effects of masculinism and feminism,as well as long-term and short-term orientation are more significant.Third,from the perspective of the impact of institutional distance on the ternary margin of China’s high-end technological products exports:(1)Formal institutional distance are negatively correlated with the ternary margin of exports,while informal institutional distance are positively correlated with the ternary margin of exports.(2)From the perspective of regional and industrial dimensions,both formal and informal differences show heterogeneity in the ternary margin of exports.(3)From the perspective of institutional distance,government efficiency differences have a positive correlation with the extensive margin of exports,while uncertainty avoidance differences have a negative correlation with the extensive margin of exports;Political stability and non-violence,self-indulgence and restraint differences are positively correlated with the export price margin;Political stability and non-violence,government efficiency,corruption control,long-term orientation and short-term orientation,as well as self-indulgence and restraint differences are positively related to the quantitative margin of exports.Fourth,from the perspective of the impact of institutional distance on the export efficiency of China’s high-end technological products:(1)Formal institutional distance have a negative correlation with export efficiency,while informal institutional distance have a positive correlation with export efficiency.(2)From the perspective of industry and regional dimensions,formal institutional distance have a more significant inhibiting effect on export efficiency,while informal institutional distance have a more significant promoting effect on export efficiency.(3)From the perspective of institutional distance,differences in expression and accountability,power distance,masculinism and feminism,and uncertainty avoidance are positively related to trade efficiency,while differences in the level of rule of law are negatively related to export efficiency.(4)From the perspective of export efficiency,China’s export efficiency of high-end technology products is relatively high(0.74),and the export efficiency of high-end technology products in different regions shows a “U” trend.(5)From the perspective of export potential,the export potential of China’s high-end technology products is growing,but the growth momentum is slightly insufficient.The main innovations of this paper include:(1)Innovation of research topics.At present,the literature on the factors affecting the export trade of high-end technology products mostly focuses on the impact of intellectual property protection,policy uncertainty,financial development,technological innovation and urban innovation on the export trade.Few scholars pay attention to the important factor of institutional distance.This paper focuses on the impact of institutional distance on export trade,which has certain positive significance for the research in related fields.(2)Innovation of research perspective.Based on the panel data at the national level,this paper empirically tests the impact of institutional distance on China’s high-end technology products export trade,and carries out theoretical analysis and empirical tests from the aspects of export scale,export ternary margin and export efficiency,opening up the research perspective of existing literature.(3)Innovation in theoretical research.On the basis of existing literature,this paper discusses the impact of institutional distance on export trade through theoretical elaboration or mathematical deduction,and puts forward corresponding research assumptions.This can enrich and develop relevant theories and theories of international trade and institutional economics,and provide certain theoretical support for relevant research at home and abroad.