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Greater participation in global value chains (GVCs) has highlighted the impact of exchange rate shocks on international trade. This paper examines how such participation influences firms' responses to exchange rate movements, focusing on the relationship between firms' pricing and value‐added in exports. This study, using detailed Chinese firm‐level data, demonstrates that firms with a high degree...
Basic innovation, with universities as a key driver, is essential for advancing core technologies in the manufacturing industry. This study used a manufacturing technologies initiative as a natural experiment, combining funding and its outcomes data from the National Natural Science Foundation of China to construct a difference‐in‐differences model. It found that the Frontiers in Manufacturing Technologies...
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