The Industrial Upgrading Effect and Its Mechanism of Supply and Demand Matching: Based on the Perspective of GVCs

WANG Jing

Volume 36 Issue 5

Nov. 2021

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WANG Jing. The Industrial Upgrading Effect and Its Mechanism of Supply and Demand Matching: Based on the Perspective of GVCs[J]. Journal of Guangdong University of Finance & Economics, 2021, 36(5): 41-51.

Citation:

WANG Jing. The Industrial Upgrading Effect and Its Mechanism of Supply and Demand Matching: Based on the Perspective of GVCs[J]. Journal of Guangdong University of Finance & Economics, 2021, 36(5): 41-51.

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The Industrial Upgrading Effect and Its Mechanism of Supply and Demand Matching: Based on the Perspective of GVCs

WANG Jing

School of Marxism, Peking University, Beijing 100871, China

Received Date: 2021-03-29
Available Online: 2021-11-11
Publish Date: 2021-09-28

Abstract

Abstract

China's industry is confronted with both the imbalance between domestic supply and demand, and the reconstruction of the global value chains(GVCs). Based on the data of 56 industries in 43 countries from 2000 to 2014, this paper creates indicators of matching degree of supply and demand in industrial level and industrial upgrading, and examines the relationship between the improvement of supply and demand matching and industrial upgrading, and its specific mechanisms by using fixed effect estimation, dynamic panel instrument variable estimation and systematic GMM estimation from the GVCs perspective. The study finds that the matching of supply and demand has a significant impact on industrial upgrading; the degree of matching between supply and demand increases by 1%, and the level of industrial upgrading will increase by 1.874%; the matching of supply and demand affects industrial upgrading mainly through two positive mechanisms, the deepening of vertical specialization and the improvement of division position in GVCs, and one negative mechanism-reduced investment. In view of the findings, China should vigorously promote the "reverse customization" model to continue to improve the degree of matching between supply and demand. At the same time, enterprises should be encouraged to cultivate core competitive advantages and increase investment in research and development, so as to give full play to the improvement of supply and demand matching to promote industrial upgrading.

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References(28)

References

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