Impact of Tariff Shocks on the Elevation of Firms'Global Value Chains
Exploring the impact of tariff shocks on value chain upgrading is one of the important issues for the high-quality development of China's economy.Currently,the high-quality development under the new development paradigm has put forward higher requirements for the upgrading of industrial value chains.The global trade and production network has gradually formed a"North America-Europe-Asia"tripartite global value chains(GVC)pattern centered on the United States,Germany,and China(Ju et al.,2020).The data provided by the world input-output database(WIOD)indicates that from 2000 to 2014,the upstreamness of China's exports rose from 2.80 to 3.04,an increase of 8.57％.Although the downstreamness of imports has also risen to a certain extent,the magnitude is smaller than that of the upstreamness of exports,and the overall value chain position is still climbing gradually.On the other hand,after the reform and opening-up,China has been committed to promoting economic globalization and tariff shocks.From 2000 to 2014,the degree of import tariff shocks gradually decreased,and the weighted average tariff on corporate imports fell from 14.76％to 4.95％—a drop of 9.81％.As GVC is an important product of the deepening and expansion of the global division of labor,the degree of tariff shocks will affect the participation of enterprises in GVC through the cost of intermediate inputs,enterprise export structure,and other aspects(Liu Bin,2015).Therefore,exploring how tariff shocks to promote value chain upgrading is conducive to the better integration of Chinese enterprises into the world economy by accelerating their integration with the thrust of tariff shocks and realizing the transformation and elevation from the low to the high end of the value chain.There are many studies on GVC,with most focusing on GVC at the national and industrial levels.Micro-enterprises,as the micro-economic subjects involved in the import and export trade of industries and the division of labor in GVC,are easily neglected.The value chain measure used in this study mainly refers to the firm-level measure proposed by Ni Hongfu and Wang Haicheng in 2022.They utilized the global input-output table to measure the counting sector value chain position,which is mapped to the firm micro level through the share of import and export trade of firms.Theoretically,this study draws on and extends the trade structure model of Caliendo and Parro(2015)and Yang Xi and Yang Yuzhou(2022)to introduce the enterprise GVC position measurement method in the model.Empirically,it calculates the GVC position of each sector in China using the WIOD.Moreover,by matching the China Industrial Enterprise Database and the China Customs Database to obtain enterprise-level data,which provide a very full sample size and sufficiently heterogeneous individual information as they are micro-level research data and a relatively comprehensive microenterprise information base.Combined with the tariff data provided by WITS,the extent to which tariff shocks affect firms'GVC upgrade is empirically examined,and firm heterogeneity is explored in the subsequent analysis to test the three impact mechanisms proposed in the model.The most important contribution of this paper is that previous studies on the influences of value chain location lacked a relatively clear path analysis to observe the intermediate variables of tariff shocks affecting the value chain.This study extends the original model at the micro level and further deduces the impact mechanisms of tariff shocks to provide a clearer model perspective for studying the influencing factors and mechanisms of firms'GVC upgrade.Moreover,it empirically tests the relationship and influence mechanism of tariff shocks and enterprise GVC through micro data.
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