金融发展对出口净技术复杂度的影响研究

发布时间：2018-04-22 11:30

本文选题：金融发展 + 出口净技术复杂度　；参考：《天津财经大学》2015年硕士论文

【摘要】：论文主要基于外商直接投资(FDI)溢出效应和技术研发效率两视角,研究了金融发展对出口净技术复杂度的影响。文中先梳理了以往对金融发展与出口(净)技术复杂度的研究。然后从经济理论的角度分析了作用路径,认为金融发展水平的提高,可改善企业的融资规模及效率,增强本土与外资企业间的关联性,尤其是在产业价值链上的关联性,提升本土企业的吸收能力,进一步促进了外商直接投资(FDI),使得产品的复杂度得到提升,最后提高了出口净技术复杂度；金融发展水平的提升提高了企业融资的效率,降低了企业的融资成本,在人力资本及外商直接投资(FDI)技术外溢的共同作用下,技术研发效率得到提升,丰富了产品种类,产品异质性增强,进而提高了出口净技术复杂度。在实证部分,论文选取了2001-2011年依据OECD标准划分下制造业的九大类产品有关的出口净技术复杂度、外部金融依赖度、金融发展指标及其他经济变量指标,分别从中国制造业的产品层面、行业技术水平层面及行业外部金融依赖性层面检验了金融发展对出口净技术复杂度的影响,发现金融发展均促进出口净技术复杂度的提升,但其对高及中高技术产业的出口净技术复杂度的正向效应稍弱,从而反应出中国当前正处于向高端产业迈进的过渡阶段。此外,金融发展对具有较高外部金融依赖的行业的出口净技术复杂度提升的效应更显著。而外商直接投资(FDI)与人力资本(HC)均在一定程度上对出口净技术复杂度有着显著的正向影响,与理论分析一致,说明外商直接投资(FDI)的技术外溢效应及人力资本(HC)的增加均促进了出口净技术复杂度的提升；而研发支出强度(RD)对出口净技术复杂度的影响多数呈现出负向效应,符号与预期相悖,从而说明中国较为集中的研发投入在金融发展相对落后的环境中没发挥出其作用,尤其是对出口净技术复杂度正向作用。最后,在借鉴美国及韩国国际经验的基础上,结合研究结论,对中国提出了相应的政策建议,包括适度扩大商业银行的规模、提高金融效率等。
[Abstract]:Based on the spillover effect of foreign direct investment (FDI) and the efficiency of technology research and development, this paper studies the impact of financial development on the net technological complexity of export. This paper first combs the previous research on financial development and export (net) technology complexity. Then from the angle of economic theory, the paper analyzes the action path, and thinks that the improvement of financial development level can improve the financing scale and efficiency of enterprises, and enhance the relationship between local and foreign enterprises, especially in the industrial value chain. Enhancing the absorptive capacity of local enterprises, further promoting foreign direct investment (FDI), increasing the complexity of products, and finally increasing the net technical complexity of exports, raising the level of financial development has improved the efficiency of enterprise financing. Under the joint action of human capital and foreign direct investment (FDI) technology spillover, technology R & D efficiency is improved, product types are enriched, product heterogeneity is enhanced, and export net technology complexity is increased. In the empirical part, the thesis selects the net technical complexity, external financial dependence, financial development indicators and other economic variables related to the nine categories of manufacturing products classified according to OECD standard in 2001-2011. From the product level of Chinese manufacturing industry, the level of industry technology level and the level of external financial dependence of the industry, this paper tests the impact of financial development on the export net technology complexity, and finds that financial development promotes the increase of export net technology complexity. However, the positive effect of the net technology complexity on the export of high and medium high technology industries is slightly weak, which reflects that China is currently in the transition stage to high-end industries. In addition, the effect of financial development on export net technology complexity of industries with high external financial dependence is more significant. Foreign direct investment (FDI) and human capital (HCH) have a significant positive impact on the net technical complexity of export to some extent, which is consistent with the theoretical analysis. It shows that the technology spillover effect of foreign direct investment (FDI) and the increase of human capital (HCC) promote the increase of net technology complexity of export, while the impact of R & D expenditure intensity on export net technology complexity is mostly negative. The symbol is contrary to the expectation, which shows that China's relatively concentrated R & D investment has not played its role in the relatively backward financial development environment, especially in the positive effect on the net technical complexity of export. Finally, on the basis of the international experience of the United States and South Korea, and combined with the conclusions of the study, the author puts forward the corresponding policy recommendations to China, including the appropriate expansion of the scale of commercial banks and the improvement of financial efficiency.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F752.62

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