Trade policy uncertainty and exports: Evidence from China's WTO accession

doi:10.1016/j.jinteco.2016.12.009

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	Trade policy uncertainty and exports: Evidence from China's WTO accession
	Feng, Ling 1; Li, Zhiyuan 2,3; Swenson, Deborah L.4
刊名	JOURNAL OF INTERNATIONAL ECONOMICS
	2017-05
卷号	106 页码:20-36
关键词	Trade policy uncertainty Firm dynamics Export reallocation
ISSN号	0022-1996
DOI	10.1016/j.jinteco.2016.12.009
英文摘要	This paper studies how reduction in trade policy uncertainty affects firm export decisions. Using a firm-product level dataset on Chinese exports to the United States and the European Union in the years surrounding China's WTO accession, we provide strong evidence that reduction in trade policy uncertainty simultaneously induced firm entries to and firm exits from export activity within fine product-level markets. In addition, we uncover accompanying changes in export product prices and quality that coincided with this-reallocation: firms that provided higher quality products at lower prices entered the export market, while firms that had higher prices and provided lower quality products prior to the changes, exited. To explain the simultaneous export entries and exits, as well as the fact that new entrants are more productive than exiters, we provide a model of heterogeneous firms which incorporates trade policy uncertainty, tracing the effects of the changes in policy uncertainty on firm-level payoffs and the resulting selection effects. (C) 2017 Elsevier B.V. All rights reserved.
WOS研究方向	Business & Economics
语种	英语
出版者	ELSEVIER SCIENCE BV
WOS记录号	WOS:000401391000002
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/2817]
专题	上海财经大学
通讯作者	Li, Zhiyuan
作者单位	1.Shanghai Univ Finance & Econ, Sch Finance, Shanghai 200433, Peoples R China; 2.Fudan Univ, Dept World Econ, Sch Econ, Shanghai 20043, Peoples R China; 3.Fudan Univ, Inst World Econ, Sch Econ, Shanghai 20043, Peoples R China; 4.Univ Calif Davis, Dept Econ, Davis, CA 95616 USA
推荐引用方式 GB/T 7714	Feng, Ling,Li, Zhiyuan,Swenson, Deborah L.. Trade policy uncertainty and exports: Evidence from China's WTO accession[J]. JOURNAL OF INTERNATIONAL ECONOMICS,2017,106:20-36.
APA	Feng, Ling,Li, Zhiyuan,&Swenson, Deborah L..(2017).Trade policy uncertainty and exports: Evidence from China's WTO accession.JOURNAL OF INTERNATIONAL ECONOMICS,106,20-36.
MLA	Feng, Ling,et al."Trade policy uncertainty and exports: Evidence from China's WTO accession".JOURNAL OF INTERNATIONAL ECONOMICS 106(2017):20-36.