We utilize an unprecedented liberalization episode in China, namely its World Trade Organization accession, to estimate the impact of trade liberalization on firm markup and markup distribution. Using a panel data quantile regression, we show that the impact of tariff reduction on markup can be heterogeneous to different firms, resulting in an unevenly distributed markup change across firms. In particular, reduction in output tariff reduces markup and markup dispersion, while reduction in input tariff increases markup and markup dispersion.

本文研究了不同市场结构下中间品贸易自由化对企业成本加成的异质性影响。通过构建一个包含中间品和最终品贸易的异质性企业理论模型，本文分析了一般均衡中中间品关税下降对个体企业成本加成的影响渠道，以及市场结构的异质性影响。中间品关税下降一方面降低了个体企业的生产成本，使得其成本加成提高；另一方面降低了行业整体的平均成本，增强了个体企业面临的竞争，使得其成本加成下降。在集中度越高的市场中，中间品关税的降低使得进口企业的成本加成增加越多。本文使用匹配的中国工业企业数据和海关数据，分析了2000～2007年我国中间品关税降低在不同市场结构的行业中对企业成本加成的异质性影响，并采用工具变量回归控制可能的内生性问题，实证发现与模型预测一致。这一发现对于讨论贸易自由化对国内资源配置效率和福利改进的影响具有一定的借鉴意义。

With the deterioration of the environment across the globe, environmental problems have attracted much attention from the public, academia, and governments. This study contributes to the understanding of environmental policy implementation by empirically testing the policy feedback theory and official ranking tournament theory in the Chinese context. In particular, it focuses on how prior environmental performance ranking transitions into future policy performance through the mandatory target system (MTS) in China. The results from this study show that provincial environmental performance ranking serves as an effective incentive for strengthening environmental governance. Low‐ranking provinces will improve their environmental policy performances in future years because of competition in the official tournament. Policy implications are drawn to improve the administrative design of environmental management.

本文首先根据参与个体的层级关系不同，将社会组织形式分为平行交易与垂直管理两类。平行交易中交易双方的地位是平等的，而垂直管理中有上下级的区别，上级对下级有支配权限。自由市场是平行交易，而企业内或政府的行为则是一种垂直管理。现实世界中平行交易与垂直管理两种形式往往层层嵌套、不可简单分割。接下来，我们分析了产业结构调整中可能存在的市场失灵，证明地方政府可以通过恰当的动态产业政策改善社会福利。因此，在产业结构调整时，市场的平行交易行为和产业政策中地方政府的垂直管理行为共存。第三，我们分析了资源在市场与地方政府之间的最优配置，并给出了有为地方政府的定义和条件。