Can The Impact Of The Crisis Force The Quality Of Chinese Manufacturing Products To Improve

Since the reform and opening up,China has relied on low-cost and low-quality export model to effectively boost economic growth.In the new era,as the economy changes from a high-speed growth stage to a high-quality development stage,how to steadily improve the quality of export products in the process of industrialization in order to better promote the quality change of economic development and build a modern economic system has become a key point that China must overcome.Looking at the international situation,the future world economy is still uncertain.It can be predicted that this situation will bring many challenges to China's entry into the "quality power" and need to be highly valued.This paper combines theoretical analysis with empirical research to study the impact of external shocks on the quality of Chinese manufacturing products.Based on the matching data of Chinese Industrial Enterprise Database,Chinese Customs Database and WIOD Database from 2000 to 2013,this paper takes the financial crisis in 2008 as quasi-natural experiment,uses the Difference-in-Differences model system to evaluate the different impact of crisis on the quality of heterogeneous Chinese export manufacturing products.Firstly,this paper puts forward the corresponding theoretical hypothesis by sorting out the existing literature.Secondly,on the basis of summarizing and reviewing the existing calculation methods,this paper chooses the appropriate measurement methods of export product quality and export domestic value-added rate.Later,based on the measured data,we found the relevant characteristic facts,and conducted an empirical study on whether the crisis impact can reverse the quality improvement of China's manufacturing products.The empirical results show that:(1)The financial crisis has diverse impact on the quality of export products of different manufacturing industries.Crisis shock can force industries with high export domestic value-added rate to improve their quality of products.(2)The crisis mainly affects the quality of export products of heterogeneous manufacturing industries through total factor productivity(TFP)and mark-up rate.There is a transmission mechanism: financial crisis shock?change in TFP /mark-up rate?technological innovation /market share increasement?quality improvement of industrial products with high export domestic value-added rate.(3)There exists a delay effect in innovation investment,which finally makes the long-term dynamic impact of crisis shock on the quality of manufacturing products present a U-shaped feature.Conclusions of this paper have important theoretical and practical significance for how to better cope with the unstable factors in global trade and promote high-quality development of manufacturing industries.