The impact of the US export controls on Chinese firms' innovation: Evidence from Chinese high-tech firms

被引：0

作者：

Shen, Haomin ^{[1
]}

Gao, Yuan ^{[2
]}

Cheng, Xiaoke ^{[2
]}

Wang, Qi ^{[2
]}

机构：

[1] Zhejiang Gongshang Univ, Sch Accounting, Hangzhou, Peoples R China

[2] Beijing Jiaotong Univ, Sch Econ & Management, Beijing, Peoples R China

来源：

INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS | 2024年 / 95卷

关键词：

Export control regulation; Innovation; Trade policy; RESEARCH-AND-DEVELOPMENT; ANALYST COVERAGE; MARKETS; COMPETITION; SPILLOVERS; SIDE;

D O I：

10.1016/j.irfa.2024.103510

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Using a sample of Chinese high-tech firms from 2007 to 2020, this study investigates the impact of U.S. export control regulations (ECRs) on Chinese high-tech firms' innovation. The results reveal that U.S. ECRs force Chinese firms to increase their R&D inputs and outputs. Moreover, the findings illustrate that technology dependence and import competition act as mechanisms to mediate such trade effects. Our cross-sectional analyses indicate that the positive relationship between U.S. ECRs and Chinese firms' innovation strengthens in firms importing more high-tech products, with better innovation accumulation, with fewer financial constraints, or with more financial subsidies. Fundamentally, this study complements the literature on the U.S.-China trade war and offers policy implications for the Chinese government.

引用

页数：13

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