An Empirical Analysis Of E-commerce's Impacts On Global Value Chain Embeddedness

With the rapid development of information technology and the evolution of the global production system,a product's production process is often divided into multiple links or processes and are deployed in different countries or regions.As a result,more and more countries are gradually embedding international division of labor which is based on the global value chain,and this trend is difficult to reverse.In recent years,the existing researches in academia on the factors influencing the global value chain embeddedness of a country's have focused mainly on institutional distances,the effects of infrastructure and trade agreements,and few studies have examined the impact of E-commerce on the global value chain embeddedness.Based on the theoretical framework of intra-product division of labor,this paper uses the Two-Stage Least Squares(2SLS)to do quantitative analysis of the embedding effect of E-commerce's global value chain embeddedness,and then puts forward relevant countermeasures and suggestions based on theoretical and empirical research.The research of this paper is divided into six chapters:Chapter One puts forward the research ideas and framework of this paper with reference to the relevant research background;Chapter Two is a summary of the literature at home and abroad,including relevant economics effect of E-commerce,the measurement of the embedding level of the global value chain and the influencing factors of the global value chain embedding level;Chapter Three explains the influence mechanism of E-commerce on global value chain embeddedness using relevant theories and mathematical models;Chapter Four measures the index of e-commerce development and the degree of global value chain"embedding index,and do any analysis based on it;Chapter Five is a econometric analysis of the effect of the global value chain embeddedness of E-commerce;Chapter Six puts forward the corresponding policy recommendations based on theoretical and empirical analysis refine the research conclusions.In theoretical research,this article first discusses the impact of E-commerce on global value chain embeddedness in terms of transaction costs,product innovation,and industrial agglomeration.Specifically,E-commerce can improve the competitiveness of export products by reducing search costs,bargaining costs,production costs and other costs;the four market characteristics of E-commerce have an inseparable relationship with product innovation,facilitating enterprises to increase technological content and use value through product innovation,and then climbing to the end of the smile curve;the E-commerce industry agglomeration will have scale effect,synergy effect and proximity demonstration effect,which will affect the production mode and production cost of the enterprise,affecting a country's level of embedding in global value chains.Afterwards,a mathematical model was used for analysis.Based on the division of labor and value chain of Long(2001),Tang Haiyan and Zhang Huiqing(2009),this paper incorporates the E-commerce into the influencing factors of global value chain embeddedness,and further analyzes the impact of E-commerce on global value chain embeddedness.The results show that under the conditions of equalization of labor income and consumption and clearing of the labor market,assuming other conditions remain unchanged,the improvement of the efficiency of E-commerce departments and technology R&D departments can have a positive impact on the position of developing countries' global value chains.In the empirical research part,this paper uses the panel data of 39 countries from 2000 to 2014,and uses the global value chain participation index and the global value chain position index(measured from the world input-output database)as the interpreted variables,and will use E-commerce development index(measured from using principal component analysis)as the core explanatory variable to represent the level of E-commerce development.In this paper,we first use the mixed regression to draw general conclusions,and then use the Two-Stage Least Squares of Instrumental Variable Method to control the estimation error caused by endogeneity.Finally,the robustness of the model is further tested.The regression results show that the improvement of the development level of E-commerce can significantly increase the participation rate index of global value chains,but it obviously inhibits the global value chain position index;the embedding effect of E-commerce's global value chain presents obvious national differences and time-phase differences.According to the results of the regression of national samples,the level of E-commerce development can significantly increase the participation index of a country's global value chain,but it only has positively effects on the position of developing countries' global value chains,and has a significant negative impact on the global value chain of developed countries.From the time-series sample regression results,compared to the pre-financial crisis,the promotion effect of E-commerce on a country's global value chain participation index has decreased significantly after the financial crisis,and the inhibitory effect on the global value chain position index has improved significantly.Based on the research conclusions,we puts forward several suggestions from five aspects to increase the level of embedding of a country's global value chain:including improving E-commerce infrastructure,strengthening E-commerce regulations,improving domestic E-commerce research and development,giving full play to the support role of financial markets,and deepen foreign direct investment and trade opening based on global value chain positioning.