Analysis on the Influence of Trade Facilitation on Value-Added Trade from the Perspective of Global Value Chains
This paper incorporates the important factor of multi-stage production in global value chains into the trade model,and the structural gravity model and Poisson regression method with multiple high-dimensional fixed effects(PPMLHDFE)are used to analyze the impact of trade facilitation on value added trade,based on data of trade facilitation indicators for 66 economies and bilateral value-added ex-ports for 17 manufacturing industries from 2012-2017.The study shows that:(1)Trade facilitation has a positive impact on value-added trade and this boost can be realized through the cost-saving channel;(2)Trade facilitation has a heterogeneous impact on value-added trade of intermediate and final goods with different production stages,and the effect of trade facilitation on value-added trade of final goods is great-er;(3)Trade facilitation affects the composition of trade in value added in different income economies,with the largest relative changes in upper-middle-income economies.
Trade facilitationValue-added tradeGlobal value chainMulti-stage production
万方数据
维普
