Table 6 Product quality channel and foreign competition channel.

From: The COVID-19 pandemics and import demand elasticities: evidence from China’s customs data

Monthly: 2019m1 to 2021m3

(1)

(2)

(3)

Full sample

Y= Δ ln v

Y= Δ ln uv

Y= Δ ln q

Δ ln RER_CNY × Policy × Quality

−0.267*** (0.094)

−0.00953 (0.052)

−0.189** (0.082)

Δ ln RER_CNY × Policy

−3.317*** (0.519)

−0.131 (0.145)

−3.228*** (0.581)

Δ ln RER_Comp × Policy

−0.0255*** (0.006)

−0.00210 (0.002)

−0.0220*** (0.006)

Δ ln RER_Comp × Quality

−0.00478*** (0.001)

−0.00377*** (0.001)

−0.000887 (0.001)

Δ ln RER_Comp × HHI

−0.128*** (0.008)

0.000125 (0.002)

−0.124*** (0.007)

Constant

−0.334*** (0.011)

0.0777*** (0.008)

−0.438*** (0.015)

Controls

Yes

Yes

Yes

Province-time FE

Yes

Yes

Yes

Province-product-country FE

Yes

Yes

Yes

Time FE

Yes

Yes

Yes

N

2213981

2181128

2181129

R2

0.136

0.055

0.178

F-statistic

0.000

0.000

0.000

  1. Note: The measure of quality is based on Khandelwal et al. (2013). We employ the Chinese customs data on China’s imports, which contain information regarding different Asian countries’ exports to different Chinese provinces. An increase in ΔlnRER_Comp implies a real appreciation of competitors’ currencies, and an increase in ΔlnRER_CNY implies a real depreciation of RMB against that one Asian trading partner’s currency (bilateral). A larger HHI implies a higher degree of market concentration for Asian economies in exporting to China. ** and *** indicate variables significant at 5% and 1% level respectively. Clustered standard errors at provincial level are reported in parenthesis.
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