Factor Price Distortion and Export Product Quality of Chinese Enterprises

Abstract

Abstract: The improvement of factor allocation efficiency is an important driving force for promoting the high-quality development of foreign trade. From the perspective of institutional environment, this paper studies the impact of factor price distortions on the quality of export products and its mechanism at the enterprise level by using the micro-data of import and export of China’s customs and China’s industrial enterprises from 2000 to 2013. The findings show that, firstly, there is an inverted U type relationship between factor price distortion and the quality of enterprises’ export products, that is, with the increasing degree of factor price distortion, the quality of enterprises’ export products is improving; when the factor price distortion reaches a certain threshold value, the quality of enterprises’ export products declines. Secondly, the impact of factor price distortions on the quality of export products will present different characteristics due to the differences in enterprises’ trade mode, technological level, and geographical location.Among them, the general trading enterprises, the high-tech enterprises, and the enterprises in the eastern region will only reach the inflection point position under a relatively higher level of factor price distortion, thereby inhibiting the improvement of the quality of enterprises’ export products. Thirdly, the cost-plus rate of enterprises and the domestic intermediate input proportion are the two intermediary factors of factor price distortion affecting the quality of enterprises’ export products. When factor price distortion increases to a certain extent, it will reduce the cost-plus rate of enterprises and increase the domestic intermediate input proportion, thereby hindering the improvement of the quality of enterprises’ export products. Fourthly, the institutional environment will play a moderating role between the factor price distortion and the quality of enterprises’ export products; and in the regions with better institutional environment, the inverted U type curve between factor price distortions and the quality of export products will be smoother.

Key words: factor price distortion, quality of export products, institutional environment

CLC Number:

F752.62
F425

YUAN Hong-lin, LIU Chen, FANG Yu-xia. Factor Price Distortion and Export Product Quality of Chinese Enterprises[J]. Contemporary Finance & Economics, 2023, 0(3): 119-130.

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