3453 
2259全球价值链（GVC）中的“链主”企业主动选择先在国内嵌入产业集群，再以集群“抱团取暖”的形式嵌入国际循环GVC中，这种双循环新发展格局将对企业的出口汇率弹性产生影响。文章采用企业-产品-目标国-时间匹配数据，对“链主”企业延长国内价值链、缩短国外价值链的双循环新发展格局能否获得应对汇率风险的比较优势进行检验。研究结果显示，双循环新发展格局通过产业集群的横向集聚效应和纵向集聚效应对“链主”企业产生反馈效应，对“非链主”企业产生溢出效应，进而提高其应对汇率风险的能力；“链主”企业降低汇率风险的机制在于提高出口价格的汇率弹性，降低出口数量的汇率弹性，这一机制主要源于企业的高生产率、生产规模和上游位置；且出口企业距离“链主”企业越近，“链主”企业的溢出效应越强。这为促进国内价值链与国外价值链的良性互动的双循环新发展格局提供了理论支持和政策启示。
“链主”企业“抱团取暖”能够应对汇率风险吗？——基于双循环新发展格局的视角
摘要
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引用本文
宁密密. “链主”企业“抱团取暖”能够应对汇率风险吗？——基于双循环新发展格局的视角[J]. 上海财经大学学报, 2023, 25(4): 33-48.
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