The Applicability Analysis For New-New Trade Theory To China

For nearly a decade, China’s high-tech industries showing a momentum of rapiddevelopment, the total output value and the profit tax of China’s high-tech industry in2010were7.2times,6.5times than that of in2000. The development of High-techindustrial on economic growth is being generated or is about to produce a breakthroughleading role and its impact on economic growth is increasingly causing a great deal ofattention in academia, industry and governments at all levels. The existed theory ofinternational trade studied the export from the country or industry level, this does notexplain the gap between enterprises within the same industry and its impact on export.The early21st century, scholars Melitz, represented the new trade theory, followed by alarge number of Western scholars who studied the United States, Britain, France andother enterprises in developed countries about empirical analysis of the heterogeneity andverify that the enterprise self-selection effects, and export learning effects.However,China as a large developing country has its own uniqueness, the new tradetheory as the core of enterprise heterogeneity is applicable to Chinese enterprises haveyet to be investigated.In this paper, the year2002-2010’s data of the Chinese high-tech industry includingall17industry segments, first of all, using data envelopment analysis (data envelopmentanalysis, DEA) to estimate the total factor productivity in all industries, founddifferentproductivity fluctuations, productivity between different enterprises, as well asthe same company at different times are different, indicating that the heterogeneity offirm productivity in China’s high-tech industrial enterprises exist. Secondly, based onnew trade theory, expanding meilitz took the productivity as the only firm heterogeneity,taking into account the high-tech industry characteristics in the model by adding theinvestment output ratio and R&D output, and the use of unit root tests and cointegrationtests examine long-term stable relationship between the variables, the establishment ofthe multi-heterogeneity of the regression equation. The empirical test results: asignificant learning effects of exports of high-tech enterprises, self-selection effect is notobvious that not all export enterprises have higher productivity; capital-output ratio is negatively related to total factor of productivity and enterprise, this may be becauseChina’s high-tech industry is still in the initial stage of development, the accumulation ofthe amount of upfront investment to achieve a qualitative change; total factorproductivity of R&D expenses and enterprises in different industries show differentcharacteristics, but most of the enterprise total factor productivity and R&D investmentis positively correlated. Finally, based on the results of the empirical analysis, thedevelopment of enterprises, reference, and made policy recommendations for thegovernment.