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제품전환(Product Churning)이 수출기업 생산성에 미치는 영향: 중국 제조업 수출기업을 중심으로

How Does Product Churning Impact Firm Productivity? Evidence from Chinese Manufacturing Exporters

신경림|곽도원
한국국제통상학회 (The Korean Association of Trade and Industry Studies)|2022.12|국제통상연구 (Journal of International Trade and Industry Studies)|제27권 제4호|pp. 29-58|DOI 10.23030/katis.2022.27.4.002

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참고문헌

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생산성가공무역firm productivity자원재분배resource reallocation제품전환기업소유권product churningprocessing tradefirm ownership
주제분류무역학

초록

본 연구는 중국의 제조업 수출기업을 대상으로 2001년부터 2006년까지 연간 데이터를 이용하여 기업이 제품전환(product churning)을 통해 생산성을 향상시킬 수 있는지 분석하였다. 다양한 고정효과 모형을 활용하여 분석한 결과, 기업은 신규 수출제품을 추가하고 동시에 기존제품을 제외하는 전환을 통해 생산성이 향상되는 것으로 나타났다. 이질적 효과 분석결과 첨단산업군의 가공무역 비중이 높거나, 외국계 기업에서 가장 큰 생산성 개선의 효과가 있었다. 또한, 품목(HS6)보다 더 넓은 범위인 그룹(HS4) 수준에서의 제품전환으로 인한 생산성 향상 효과가 있었다. 결론적으로 2000년대 초반 중국 기업은 수출 제품전환과 자원재분배를 통해 기업 생산성이 향상되었고 높은 경제성장률 달성에 기여하였다. 이는 개발도상국 기업이 생산성 증가를 통해 지속가능한 경제성장을 이루기 위해서는 적극적으로 글로벌 공급망에 참여하고 선진적인 기술을 도입하며 자원분배를 개선하기 위한 정책이 요구됨을 시사한다.

Abstract

This study explores the impact of export product churning (i.e., simultaneously dropping and adding distinct products) on firm productivity through reallocation of intra-firm resources. We use annual Chinese manufacturing exporter data from 2000 to 2006 and apply various fixed effect models to account for endogeneity caused by reverse causality, self-selection, and omitted variables. The data show that multi-product exporters are dominant amongst exporting manufacturers, and intra-firm product churning was prevalent during the sample period. We find a positive impact of product churning on firm productivity. Particularly, the effect of churning is strongest when the share of processing trade is high, firms are foreign-owned, and firms are in high-technology industries. In addition, churning at the group (HS4) level had an effect of improving firm productivity. The overall conclusion is that resource reallocation at the intra-firm “extensive margin” through product churning played a distinct and important role in raising firm productivity.

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