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文章将复杂产品定义为由多种异质性中间投入品加工而成的产品,中间产品的异质性越强,最终产品的技术复杂度越高。基于该定义,研究发现金融发展主要通过人力资本积累、研发效率提升和FDI技术溢出吸收能力提升等三条路径,作用于中间产品异质性进而一国出口复杂度提升。文章同时采用跨国数据对金融发展作用于出口复杂度提升的三条路径分别进行了经验验证,实证结果肯定了我们的理论预期,且该结论对于不同的金融发展指标具有稳健性。
The article defines a complex product as a product made from a plurality of heterogeneous intermediate inputs. The more heterogeneous the intermediate product, the higher the technical complexity of the final product. Based on this definition, the study finds that the three main paths to financial development are through the accumulation of human capital, the improvement of R & D efficiency and the enhancement of absorption capacity of FDI technology spillovers, which leads to the heterogeneity of intermediate products and the increase of the export complexity of a country. The article also verifies the three paths of cross-border data on the role of financial development in enhancing the export complexity. The empirical results confirm our theoretical expectation, and the conclusion is robust to different financial development indicators.