Importing Capital Goods and Firm’s Productivity ——Based on Chinese Manufacturing Enterprises
YANG Xiao-yun1,2
1. School of Finance and Economic, Chongqing Three Gorges University, Wanzhou 404000, China; 2 School of Management and Economics, Southeast University, Nanjing 211189, China
Abstract：
Using matching data from China’s industrial firm database and the Customs database, this paper conducts regression analysis and propensity score matching method to examine the effect of importing capital goods on Chinese firms’ TFP. The results show importing capital goods can significantly enhance firm’s productivity, but the specific effects differ from kinds of firms. The effect for small firms is bigger than the large and medium-sized enterprises, and the effect for high-tech firms is bigger than low technology firms. The policy implication of this study is that to expand high-tech capital goods importing can improve firm productivity, and thus strengthen the competitive ability in the international market, which is conducive to the foreign trade development policies “stabilizing exports, expanding imports and promoting trade balance”.
2015 
