Distribution margins and distribution-oriented FDI: Evidence from China

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2024-07-03 DOI:10.1016/j.ememar.2024.101169

Wei Tian, Xinhong Wu

引用次数: 0

Abstract

This paper constructs a new measure of distribution margins that covers more countries than that in the World Input–Output Database. Based on this measure, we develop a set of stylized facts and examine the effect of distribution margins on exporters' distribution-oriented foreign direct investment decision using customs data and foreign direct investment decision data from China. We find that higher distribution margins in destination countries drive exporters to conduct distribution-oriented foreign direct investment. Compared with specialized export intermediaries, manufacturers have a greater incentive to invest in distribution sectors abroad when faced with higher distribution margins.

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分销利润和以分销为导向的外国直接投资：来自中国的证据

与世界投入产出数据库相比，本文构建了一个涵盖更多国家的新的分销利润衡量标准。在此基础上，我们提出了一系列典型事实，并利用中国的海关数据和外商直接投资决策数据，研究了分销利润率对出口商以分销为导向的外商直接投资决策的影响。我们发现，目的地国较高的分销利润率会促使出口商进行以分销为导向的对外直接投资。与专业出口中间商相比，制造商在面临较高的分销利润率时更有动力投资海外分销行业。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.