Research on the Impact of International Supply Shock on China's Domestic Circulation
This paper embeds the domestic cycle into the model of international division of labor within products,puts forward a theoretical framework of the impact of international sup-ply shocks on the domestic cycle,and expands and analyzes the key role of scientific and tech-nological innovation as the core element of new quality productive forces and the institutional opening-up in the field of standardization in responding to the international supply shocks.On this basis,this paper utilizes enterprise and industry-level data to conduct empirical tests.The results show that:(1)international supply shocks inhibit the development of the domestic cycle,which is manifested in the reduction of the scale of enterprise participation in the domestic cycle and the degree of domestic cycle fluency.(2)Medium-and high-tech international supply shocks inhibit domestic cycle development,but low-tech international supply shocks do not have a significant impact on the domestic cycle.(3)Scientific and technological innovation mitigates the negative impact of international supply shocks on the scale of enterprises'partici-pation in the domestic cycle;and institutional opening-up in the field of standardization miti-gates the negative impact of international supply shocks on the smoothness of the domestic cycle.
International Supply ShocksDomestic CycleInnovationInstitutional Open-up
万方数据
维普
