Trade liberalization and entrepreneurship: Evidence from China’s WTO accession

IF 2.8 2区经济学 Q2 BUSINESS, FINANCE

Journal of International Money and Finance Pub Date : 2024-08-08 DOI:10.1016/j.jimonfin.2024.103155

引用次数: 0

Abstract

We investigate the effect of trade liberalization on entrepreneurship. By using China’s World Trade Organization accession as an exogenous shock to conduct a difference-in-differences estimation, we find that trade liberalization has a sizeable positive effect on entrepreneurship. Our findings are robust to different specifications and endogeneity problems. We further discuss the plausible mechanisms driving our results: the trade induced competition, and input market channel. China’s WTO accession may lead to more entrepreneurship in areas with low levels of economic development, a high level of trust, and industries with a low level of external finance dependence.

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贸易自由化与创业精神：中国加入世贸组织的证据

我们研究了贸易自由化对创业的影响。通过将中国加入世界贸易组织作为一个外生冲击，进行差分估计，我们发现贸易自由化对创业有相当大的积极影响。我们的研究结果对不同规格和内生性问题都是稳健的。我们进一步讨论了结果的合理驱动机制：贸易诱导竞争和投入品市场渠道。在经济发展水平较低、信任度较高的地区，以及对外部资金依赖程度较低的行业，中国加入世贸组织可能会带来更多的创业机会。

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

Journal of International Money and Finance BUSINESS, FINANCE-

CiteScore

4.20

自引率

4.00%

发文量

141

期刊介绍： Since its launch in 1982, Journal of International Money and Finance has built up a solid reputation as a high quality scholarly journal devoted to theoretical and empirical research in the fields of international monetary economics, international finance, and the rapidly developing overlap area between the two. Researchers in these areas, and financial market professionals too, pay attention to the articles that the journal publishes. Authors published in the journal are in the forefront of scholarly research on exchange rate behaviour, foreign exchange options, international capital markets, international monetary and fiscal policy, international transmission and related questions.