| As the major driving force of the rapid economic development, international trade is one of the most active departments in China. For enterprises are the major participators of the international trade activities, their behavior cannot be ignored in the research on the mechanism of international trade. However, this important factor was neglected in a long time. The birth of "New-new Trade Theory" makes up for it and soon becomes the most cutting-edge research topic on international trade. The theory breaks through the assumption based on the representative enterprise in the traditional and new trade theory, turning to focus the attention on the micro-level fact. The model introduces the assumption of firm heterogeneity embodied in the marginal cost and then productivity differences. So the relationship between the export decision and productivity becomes the basic topic of "New-new Trade Theory". In the framework of the latest trade theory, we introduce the assumption of market segmentation factor of China to modify classical Melitz(2003) model in order to explore the relationship between the export decision and productivity of Chinese enterprises. Then the micro-level data of Chinese manufacturers are used to an empirical test. The sample is divided into three groups: state-owned enterprises, other domestic enterprises and foreign-owned enterprises. The empirical result shows that the productivity in exporters is abnormally lower than non-exporters in foreign-owned companies. Then the market segmentation index is used to explain this abnormal phenomenon. The result shows that it costs high to enter other regional markets in domestic market with the existence of market segmentation in foreign-owned companies. The enterprises with comparative advantage in labor force and low capital intensity take the advantage of low production cost and choose to export, thus explain the phenomenon why foreign-owned enterprises in China tend to export with relatively low productivity. |
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