The Influence Of Destinational Countries’ Institutional Quality On Our Export Geographic Structure Of Equiptment Mamufacturing Industry

With the implementation of "One Belt and One Road" strategy and the 13th Five Year Plan,our export of equiptment manufacturing industry broadens the new space.However,there are many differences in economic, political and legal institutions about these countries of "One Belt and One Road".Therefore,different countries have different demands for equiptment manufacturing products.Scholars have studied what affects exports through theoretical and empirical analysis from different perspectives.With the apperance of neoinstitutional economics,the research on the relationship between institutional quality and international trade becomes a foucs.Reserachs have pointed that exports favor countries with high institutional quality.So do our exports of equiptment manufacturing industry from the statistical data.This thesis also focuses on this view.I analyze the influence of institutional quality on exports of equiptment manufacturing industry from the perspective of transaction cost and incomplete contract theory.First,I choose economic,political and legal institutions to analyze and find if institutional quality of the destination country is higher,the transaction cost is lower.Second,I build models and assume that exporters in home country judge the type of the distributor on the basis of foreign institutional quality.Through mathematical figuration,I prove that the higher institutional quality of the destination country is,the more patient the distributor is.Then exporters start trade with higher volume,keep longer paternership and gradually increase exports.Then I choose exports of equiptment manufacturing industry to countries of "One Belt and One Road" as dependent variable and the institutional quality of these countries as independent variable.Through regression analysis, I find:First,I classify fifteen indexes as economic, political and legal institutions and included these in the equation regression respectively. The results show the influence of most of the indexes on exports of equipment manufacturing industry is positive.But there are also the following indicators:financial freedom, property rights, government scale, voice and accountability, whose influence on exports of the equipment manufacturing industry is negative.Secondly,the higher the overall institutional quality of destination country is,the more we export.When the institutional quality increase 1 unit, the corresponding export volume will increase by 11.8%.With our country’s institutional quality level as the dividing line, the sample data is divided into two types.And respectively through regression analysis,I find the impact of institutional quality on exports of equipment manufacturing industry of our country is more pronounced in the countries with higher institutional quality,while the impact is lower in the countries with lower quality.Thirdly,by calculating the predicted export volumes of equipment manufacturing industry to 53 countries from 2002 to 2014,compared with the actual volume,I divide 53 countries into three categories:potential reengineering type;potential developing type;great potential type.Finally,this thesis puts forward measures from four angles.Our exports of equiptment manufacturing industry should focus on countries with high institutional quality, actively deal with trade frictions to solve the asymmetric information,and promote the development of equipment manufacturing industry in our country. Besides,we should deepen the international cooperation in the equipment manufacturing industry.