Trade Liberalization and Embedded Institutional Reform: Evidence from Chinese Exporters

• 成果类型: Article
• 署名作者: Khandelwal, Amit K.; Schott, Peter K.; Wei, Shang-Jin
• 署名单位: Columbia University; Yale University
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.103.6.2169
• 发表日期: 2013
• 页码: 2169-2195
• 关键词: quality change; misallocation; PRODUCTIVITY; industry; prices; FIRMS

摘要

If trade barriers are managed by inefficient institutions, trade liberalization can lead to greater-than-expected gains. We examine Chinese textile and clothing exports before and after the elimination of externally imposed export quotas. Both the surge in export volume and the decline in export prices following quota removal are driven by net entry. This outcome is inconsistent with a model in which quotas are allocated based on firm productivity, implying misallocation of resources. Removing this misallocation accounts for a substantial share of the overall gain in productivity associated with quota removal.