“国商论坛”第55期将于12月29日13:55-15:25举行

报告题目：Investment liberalization, policy heterogeneity and markup dispersion: Evidence from China

报告人：浙江大学 经济学院 余林徽 副教授

主持人：西南财经大学 国际商学院  孙楚仁 教授

报告地点：西南财经大学柳林校区颐德楼 H406

内容简介：

In this paper, we identify the differential impacts of heterogeneous measures of China's foreign investment liberalization upon its WTO accession on intra-industry markup dispersion.

We find that relaxation of foreign investment in previously restricted (prohibited) industries significantly reduces the markup dispersion thus improve the efficiency of intra-industry resource allocation, while encouragement of foreign investment in previously permitted industries significantly increases markup dispersion thus deteriorate resource allocation. And these effects are more salient for non-SOEs, non-exporters, in coastal regions, and in capital-intensive industries. Further analysis shows that these heterogeneous policy effects mainly come from price competition in product markets instead of cost reduction in input markets. Our findings are robust when we allow for the impacts of trade liberalization, SOEs reform, processing trade, and investment liberalization from upstream industries. 

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西南财经大学国际商学院

2017年12月25日