Export capacity constraints and distortions

• 成果类型: Article
• 署名作者: Feng, Xiao; Wang, Yongjin; Zhao, Laixun
• 署名单位: Nankai University; Kobe University
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/j.jdeveco.2022.102889
• 发表日期: 2022
• 关键词: Dual-channel exporters; Capacity constraint; distortion; Resource misallocation

摘要

We investigate how export capacity constraints (ECCs) affect resource misallocation and aggregate productivity by distorting the firm's export mode. Using unique datasets in China, we first document a number of observed patterns for the so-called dual-channel exporters, which export only a fraction of their products directly with the rest via intermediaries. We show that introducing capacity constraints reconciles the theory with the observed patterns in the data. Our quantitative exercise suggests that removal of the ECCs leads to gains of 2.27% in aggregate productivity, 4.97% in total exports and 0.37% in national welfare.