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| 1 |
ID:
187896
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| Summary/Abstract |
This paper examines the nexus between export tax rebates and productivity using Chinese firm-level data from 2000 to 2007. The empirical findings indicate that a one percentage point decrease in export tax rebate rates increases the total factor productivity (TFP) of a firm by about 0.1 percentage points. We explore the possible mechanisms that explain this nexus and attribute it to the allocation effect of export tax rebate policy; that is, export tax rebates prevent low-productivity firms from exiting the market and further reallocate resources and economic activities to them. In addition, a decrease in rebate rates significantly encourages the TFP growth of surviving firms and leads to an increase in aggregate TFP. Specifically, throughout 2000–07, the declining rebate rates accounted for 5.23% of the rise in the aggregate TFP, and the between-firm effect was 3.85%, which is much larger than the within effect.
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| 2 |
ID:
187821
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| Summary/Abstract |
This paper explores the effect of economic policy uncertainty (EPU) on industrial pollution using China's real-time pollution data and a novel news-based EPU index constructed by Davis, Liu, and Sheng (2019). Empirical results suggest that EPU can significantly promote sulfur dioxide (SO2) readings in cities experiencing higher ex-ante fiscal pressure, and this effect is more profound during the daytime. Given that SO2 is the main contributor to industrial pollution, and local governments have less incentive to monitor illegal pollutant discharges during the nighttime period, our findings indicate that rising EPU will harm the environment by motivating local authorities to reduce environmental supervision and thus increase industrial pollution. We also find that promoting regional innovation and strengthening external environmental regulations can mitigate the pollution effect of economic policy uncertainty.
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| 3 |
ID:
143411
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| Summary/Abstract |
This paper examines the effects of market potential on Chinese firms' exports and profit by using data from the Chinese industrial enterprise database and The China City Statistical Yearbooks during 1998–2007. We find that international market potential has positive effects on firm exports, but negative effects on firm profit, while domestic market potential has opposite impacts. This finding suggests that Chinese firms' profit mainly stems from the domestic market. Moreover, the adverse impact of international market potential on firm profit diminishes with the increase of firm productivity, and some firms with higher productivity may benefit from the expansion of foreign markets.
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