Inventory Management with Trade Policy Uncertainty

作     者：Xiaotao Zhao Xiaoping Chen Xiaotao Zhao;Xiaoping Chen

作者机构：Institute of Applied EconomicsShanghai Academy of Social SciencesChina School of Economics and ManagementHarbin Institute of TechnologyShenzhenChina 

出 版 物：《China & World Economy》 (中国与世界经济（英文版）)

年 卷 期：2022年第30卷第5期

页      面：128-153页

核心收录：

学科分类：02[经济学] 0202[经济学-应用经济学] 020206[经济学-国际贸易学] 

主　　题：difference-in-differences inventory management trade frequency trade policy uncertainty 

摘      要：This paper develops a theoretical model to describe how exporting firms manage their inventory stocks in response to an exogenous trade policy uncertainty *** firm-level data from China Industrial Enterprise Database and China Customs Database on inventory and exports over the period around China s WTO accession,we show that a reduction in trade policy uncertainty significantly increased exporting firms inventory *** result wasrobust tovarious robustness *** effect was found to be stronger for private and foreign firms than state-owned enterprises and mainly driven by firms from the coastal *** also found that the reduction in trade policy uncertainty increased the frequency and the average volume of export transactions,and that this was the mechanism behind the *** paper helps to understand exporting firms optimal inventory problem arising from tradepolicyuncertaintyand shocks.