The Applicability Study Of New-New Trade Theory In The Chinese High-Tech Industry

In recent years, the rapid momentum of Chinese economic development held, in which Chinese high-tech industry also has been tremendous developed in2011, the Chinese high-tech industry output value of GDP has turned over8.5times as much as in2000,profit tax also has turned over7.5times, showing that breakthrough of high-tech industry is producing or about to play a leading role in Chinese economic, which cannot be ignored. Thus, academia, industry and national governments have given attention and started the study in high-tech industry and its impact on economic growth. However, to the present study of the behavior of international trade, the research point of view still is on a country ort in the industry level, there is no research on the enterprise to the micro-level analysis. But nowadays, between the export enterprises and non-exporting companies, there is a big difference. Thus, in the early2000s, with enterprises as the core of heterogeneity of the "new new trade theory" appears in the economist’s field of vision, which represented by Melitz scholars from the micro level on international trade practice is going to give an explanation.Followed by a large number of Western scholars also have made their national corporate research and analysis,empirical test of heterogeneity of the enterprise, and come with conclusions of a self-selection effect enterprise and export learning effect enterprise. For China, Chinese economic development is unique with its own, so that a new trade theory is applicable to Chinese enterprises remains to be investigated.This article selects2002-2011data of the Chinese high-tech industry in all17sectors. The article estimates the industry’s total factor productivity with data envelopment analysis method, and found out that there is a big fluctuation in TFP between different enterprises based on analysis of measurement results, as well as there exists between different enterprises in different periods of the same company whose productivity is different to verify the heterogeneity of firm productivity in high-tech industry in China. Then, based on the new-new trade theory, this paper extends meilitz model, in addition to productivity, but also to increase R&D investment output ratio and output ratio of two variables, the use of unit root and cointegration tests and analysis of the selected high-tech industries in the long-term stable relationships between variables, the establishment of multiple heterogeneous regression equation.Through empirical analysis shows that Chinese enterprises have their own high-tech industry development characteristics, and its exports learning effect is significant, however, self-selection effect is not obvious, the export enterprises do not have a high productivity. Capital-output ratio on firm productivity effect is negative, probably due to the development of China’s high-tech industry is still early days, and the capital-output impact on productivity is a long-term process, not yet reflected in the short term. R&D investment of the enterprise to TFP effect is characterized varies by industry, but generally a positive correlation between the two.Finally, this paper gives the empirical analysis of test resulting recommendations and strategies.