On the Influence of Trade Policy Uncertainty on Domestic Sales of Export-oriented Enterprises
Based on the perspective of trade policy uncertainty,using the data of China's manufactur-ing export-oriented listed enterprises and the trade policy uncertainty index from 2010 to 2020,the impact of trade policy uncertainty on the domestic sales of export-oriented manufacturing enterprises and its mech-anism is studied.The results show that:trade policy uncertainty has a significant positive impact on the domestic sales of export-oriented enterprises;rising trade policy uncertainty significantly promotes the expansion of domestic sales of enterprises through enhancing the innovation ability of enterprises,increasing the financing constraints,and raising the market transaction costs;and rising trade policy uncertainty promotes the expansion of domestic sales even more for low productivity,small-scale and labor-intensive export-oriented enterprises.Therefore,in the context of building a new development pattern of double-cycle,government departments should pay close attention to the changes in domestic and foreign markets,provide more policy support and guidance for the development of the domestic market of export-oriented enterprises,stimulate enterprise innovation through subsidies,tax incentives and other measures,and at the same time,provide more bank credit support and regulate the system level to provide a good investment and financing environment and a fair and orderly business environment for the development of the enter-prise.Export-oriented enterprises should also strengthen their domestic market development,so that when external uncertainty rises,they can make reasonable domestic sales decisions as well as export-oriented ones to avoid risk better.They should also increase investment in innovation to achieve export upgrading to resist external risks by enhancing their strength and international competitiveness.
NETL
NSTL
万方数据
