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Advanced Economic Seminars 266: Financial Structure,Contractual Environment and Global Value Chain Position

Publisher:   Time:2019-11-04 09:47:04


Topic: Financial Structure,Contractual Environment and Global Value Chain Position


Lecturer: Guangzheng JING  Nankai University


Time: 1:40-3:10 p.m. November 6th, 2019 (Wednesday)  


Venue: B423, Zhixin Building


Abstract: This paper systematically investigates the relationship between the financial structure and a country’s global value chain position from a theoretical and empirical perspective.The empirical results show that the market-oriented financial structure significantly enhances the country’s global value chain position and that the conclusions remain robust after overcoming the effects of endogenous and economic fluctuations.With the improvement of the division of labour in the country’s value chain,the financial market plays an increasingly important role in its promotion,but a financial crisis weakens this positive role.It is noted that the improvement of human capital and innovation incentive strengthening in R&D are the main channels for promoting the global value chain position through a market-oriented financial structure. With the introduction of the National Contractual Environmental Index,it is found that improving the contractual environment not only directly promotes the position of the global value chain,but also reinforces the role of the financial market when it comes to improving the position of the global value chain.

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