Trade Openness?Export Diversification And Output Volatility

Since the reform and opening up,the international trade plays an important role in promoting the economy.International trade promotes the economic growth has been proved by theories and practice.But with the deepening of trade liberalization,the trade between countries are more frequent,and international economic fluctuations will be transmitted more easily.Lots of research have proved that international trade is advantageous to the efficient allocation of resource,and promote economy,but the impact of trade liberalization on economic fluctuation is controversial.At the beginning of the 21st century,scholars pay more attention on the fluctuation of output from the national level to the enterprise level.Based on the firm-level data of China,this paper study the mechanisms by which export openness affects output volatility from export market diversification and export product diversification respectively.The results show that the export openness can reduce output volatility,but the effect is impacted by export diversification and there exists a threshold:When considering export market diversification and full sample's threshold is 0.9184,eastern region sample's threshold is 0.8888,central?western and northeast sample's threshold is 0.7101,collectively sample's threshold is 0.6552,private sample's threshold is 0.5864,sino-foregin cooperative sample's threshold is 0.6922,but it is not significance for state-owned?sino-foregin joint and foreign-owned enterprises.Furthermore,when considering export product diversification and full sample's threshold is 0.8133,eastern sample's threshold is 0.7920,state-owned sample's threshold is 0.5335,private sample's threshold is 0.8124,sino-foregin joint sample's threshold is 0.7082,but collectively sample's export product diversification cannot change the fact that export openness reduces output volatility and it is not significance for central?western?northeast?sino-foregin cooperative and foreign-owned enterprises.