The Impact of the Opening of CR Express on Enterprises'Total Factor Productivity——An Empirical Study Based on the Data of A-share Listed Manufacturing Companies
The opening of China Railway Express(CR Express)has provided a key convenient channel for China's manufacturing enterprises to expand the international market.In view of the high standard and fierce competition environment in the international market,it is worthwhile to explore whether CR Express can effectively promote the realization of high-quality development of China's manufacturing enterprises,which has become an issue worthy of in-depth study.Using the invention patent data of Chinese enterprises and the relevant data of listed companies in the manufacturing industry from 2010 to 2022,this paper adopts a multi-period difference-in-differences(DID)model to systematically and empirically analyze the impact of the opening of CR Express on the total factor productivity(TFP)of enterprises and its internal mechanism.The results show that the opening of CR Express has a significant positive effect on the TFP of enterprises.Specifically,the opening of CR Express mainly promotes the enhancement of TFP through the following two major ways:firstly,by enhancing the innovation ability of enterprises,the international market facilitating contact brought by CR Express enables enterprises to learn and imitate international advanced technology and experience,and then enhance their own innovation ability,which promotes the growth of TFP;secondly,by reinforcing the competitiveness of enterprises,the high-standard international market and the fierce competition in the international market that the CR Express connects with,and the high quality of the international market and the high efficiency and quality of the international market.Secondly,by strengthening the competitive ability of enterprises,the high-standard international market and the fierce market competition environment connected by the CR Express motivate enterprises to continuously improve the competitiveness of their products,which further promotes the improvement of TFP.In addition,this study also analyzes regional heterogeneity,and the results show that the opening of the CR Express has a significant impact on the TFP enhancement of enterprises in both the western and eastern regions,and the enhancement effect is particularly prominent in the western region.The conclusions of the study provide an important and realistic reference for optimizing the site layout of the CR Express,aiming to provide strong support for the sustainable development of China's manufacturing enterprises as well as the enhancement of TFP.
NETL
NSTL
万方数据
