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文章通过匹配的2000~2006年间工业企业数据库和海关数据库,参考Bernard et al.(2011,2014)对多产品进口企业的贸易二元边际分解方法,考察了融资约束对企业进口行为的影响,同时考察了金融发展对于融资约束与进口二元边际相互关系的影响效应。研究发现:(1)融资约束显著制约了我国企业进口总额增加、扩展边际扩张和集约边际深化;(2)融资约束的抑制作用对于私营企业最为强烈,其次是外资企业,而对国有企业无显著性影响;(3)研究期间的金融发展并没有发挥既定的效果。
Based on the matching industrial binary database and customs database from 2000 to 2006, the paper reviews Bernard et al.’s (2011, 2014) dual-marginal decomposition of trade in multi-product import enterprises and examines the impact of financing constraints on the import of enterprises. Meanwhile, It examines the effect of financial development on the interrelationship between financing constraints and import duality. The results show that: (1) The financing constraints significantly restrict the increase of total import volume, expansion of marginal expansion and intensive marginalization of China’s enterprises; (2) The restraining effect of financing constraints is the strongest for the private sector, followed by the foreign-funded enterprises and the state-owned enterprises Sexual influence; (3) financial development during the study did not play its intended effect.