期刊
JOURNAL OF INTERNATIONAL ECONOMICS
卷 97, 期 2, 页码 392-403出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.jinteco.2015.07.003
关键词
Value-added tax reform
类别
资金
- National University of Singapore (the Ministry of Education AcRF Tier 1) [FY2014-FRC2-001]
This paper contributes to the literature by identifying the causal effect of firm investment on exporting behavior. The identification hinges on regional variations in the 2004 value-added tax pilot reform in China, which generated positive investment shocks. The instrumental variable estimation results show that firm investment significantly and substantially increases the likelihood of exporting, and this effect is largely due to the positive effect of firm investment on firm productivity. Finally, the paper documents some heterogeneity of the effect across industries with different degrees of competition and financial constraints. (C) 2015 Elsevier B.V. All rights reserved.
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