µ¼Óï
×ÔÑǵ± ¡¤ ˹Ãܵġ¶¹ú¸»ÂÛ¡·ÎÊÊÀÒÔ¼°¾¼Ãѧ³ÉΪһÃÅѧ¿ÆÒÔÀ´£¬¹ØÓÚÉÌÒµ¶Ôרҵ»¯·Ö¹¤µÄÓ°Ï죬¾ÍÒ»Ö±ÊǾ¼ÃѧÑо¿µÄÖØ´ó¾µäÖ÷Ìâ¡£·Ö¹¤´øÀ´Ð§ÂÊ£¬ÏÖÔÚÕâһĻÕýÔڿƼ¼Á¢ÒìÁìÓòÉÏÑÝ¡£
¿ËÈÕ£¬Î°Òײ©º«Åô·ÉÏÈÉúÓëÏàÖúÕß׫дµÄÂÛÎÄ¡¶ÉúÒâÊÇ·ñÔö½ø×¨Òµ»¯·Ö¹¤£¿À´×ÔרÀûÉúÒâµÄÖ¤¾Ý¡·£¨Does Trading Spur Specialization? Evidence from Patenting£©£¬½ÒÏþÓÚÖÎÀíѧ¶¥¿¯¡¶ÖÎÀí¿ÆÑ§¡·£¨Management Science£©£¬ÂÛÎÄÑо¿·¢Ã÷£¬ÊÖÒÕÊг¡µÄ·ºÆðºÍרÀûÉúÒâÕýÔÚÈÃÖйúµÄÁ¢ÒìÆóÒµ¡±Àë±ð´ó°ü´óÀ¿µÄÍòÄÜģʽ£¬×ªÏò¡°¸ÉºÃÉÆÓÚµÄÊ¡±£¬¶øÕâÑù¸üϸÄå¡¢¸ü¸ßЧµÄרҵ»¯·Ö¹¤Ç¡Ç¡ÊÇÁ¢ÒìÌáËÙ¡¢¹¤Òµ¾¼ÃÉý¼¶µÄÒªº¦¡£

Ò»¡¢Ê²Ã´ÊÇÊÖÒÕÊг¡£¿
ÎÒÃÇÊ×ÏÈÓ¦¸Ã¸ãÇåʲôÊÇÊÖÒÕÊг¡¡£¹ËÃû˼Ò壬ÊÖÒÕÊг¡¾ÍÊÇÒÔרÀû¡¢ÊÖÒÕÉñÃØ¡¢¿ÆÑÐЧ¹ûµÈÎÞÐεġ°ÊÖÒÕÉÌÆ·¡±ÎªÉúÒ⹤¾ßµÄÊг¡¡£ËüÏñÒ»¸öÅþÁ¬ÊÖÒÕ¹©Ó¦·½ºÍÐèÇ󷽵ij¬µÈƽ̨£¬ÈÃÁ¢ÒìÊÖÒÕÄÜ˳³©µØÁ÷ÏòÉú²úÏߣ¬×îÖÕÄð³ÉÎÒÃÇÄÜÂòµ½µÄ²úÆ·¡£
ÒÔÍù£¬ÆóÒµÑз¢×¨ÀûҪô×Ô¼ºÏë²½·¥×ö³É²úÆ·£¬ÒªÃ´×¨Àû֤ʵ¾ÍÊøÖ®¸ß¸ó¡£ÏëҪʵÏÖרÀû±äÏÖ£¬ÐèÒª¼èÐÁµØÑ°ÕÒ¿Í»§£¬Ì¸ÅÐÀú³ÌÂþ³¤¶ø³äÂúΣº¦¡£ÏÖÔÚÓÐÁËÊÖÒÕÊг¡£¬ÕâÀïÓÐÇåÎúµÄ¹æÔò¡¢×¨ÒµµÄЧÀÍ¡¢ÖØ´óµÄÁ÷Á¿£¬ÉúÒâË«·½¿ÉÒÔ¸üÇáËɵØÑ°ÕÒµ½Ç±ÔÚÂò¼ÒÂô¼Ò£¬¼«´óµØ½µµÍÁËרÀûÉúÒâµÄÄѶȺͱ¾Ç®£¬ÅÌ»îÁËÕû¸öÉç»áµÄÁ¢Òì×ʲú¡£
¶øº«Åô·ÉÓëÏàÖúÕßµÄÑо¿£¬¾ÍÊÇ»ùÓÚÖйú֪ʶ²úȨÉúÒâËùÕâÒ»¾ßÓдú±íÐÔµÄÊÖÒÕÊг¡µÄÊý¾Ý¡£
¶þ¡¢Àë±ð´ó¶øÈ«
ÊÖÒÕÊг¡ÈÃÆóÒµ×îÏÈ·Ö½ÇÉ«¸É»î
ÒÑÍùÐí¶àÆóÒµ¾³£ÏÝÈë´ó¶øÈ«µÄÏÝÚ壺¼ÈÏë×Ô¼º¸ãÑз¢ÄÃרÀû£¬ÓÖÏë°ÑרÀûÄð³É²úÆ·Âô³öÈ¥£¬Ð§¹ûË«·½¶¼×ö²»¾«¡£µ«ÊÖÒÕÊг¡µÄ·ºÆð£¬ÈÃÆóÒµÓÐÁË·Ö¹¤Ñ¡Ïî¡£Ñо¿·¢Ã÷£¬ÒÔ֪ʶ²úȨÉúÒâËùΪ´ú±íµÄÊÖÒÕÊг¡ºÍרÀûµÄÁ÷ͨÉúÒâ´ßÉú³öÈýÖÖÇåÎúµÄ·Ö¹¤Ç÷ÊÆ£º
µÚÒ»£¬·ºÆðÁË¡°×¨ÀûÂò·½¡±ºÍ¡°×¨ÀûÂô·½¡±µÄ·Ö¹¤¡£ÓÐЩ¹«Ë¾£¨ÈçרҵÑз¢»ú¹¹¡¢¸ßУÑÜÉúÆóÒµ£©·¢Ã÷×Ô¼º¸üÉÆÓÚ¡°·¢Ã÷¡±£¬ÓÚÊÇËûÃÇרעÓÚÉú²úרÀû£¬È»ºóÔÚרÀûÉúÒâÊг¡ÉÏÂô¸øÐèÒªµÄÆóÒµ¡£¶øÁíһЩ¹«Ë¾£¨ÈçÓµÓÐǿʢÇþµÀºÍÆ·ÅÆµÄÆóÒµ£©·¢Ã÷×Ô¼º¸üÉÆÓÚ¡°Âô»õ¡±£¬ÓÚÊÇËûÃÇïÔÌ»ù´¡Ñз¢£¬×ª¶ø´ÓÍⲿ¹ºÖÃÏȽø×¨Àû£¬¿ìËÙÍÆ³öвúÆ·¡£
µÚ¶þ£¬·ºÆðÁË¡°×¨ÀûÔÊÐí·½¡±ºÍ¡°±»ÔÊÐí·½¡±µÄ·Ö¹¤¡£ÕâÀàËÆÓÚÆ·ÅÆÊÚȨ¡£ÓµÓн¹µãÊÖÒյĹ«Ë¾Í¨¹ýÔÊÐí·½·¨£¬Èøü¶àÆóҵʹÓÃÆäÊÖÒÕ£¬×Ô¼ºÔòרעÓÚÊÖÒÕµü´ú£»¶ø±»ÊÚȨÆóÒµÔòʹÓøÃÊÖÒÕ£¬×¨×¢ÓÚÌØ¶¨Êг¡µÄ²úÆ·¿ª·¢¡£
µÚÈý£¬·ºÆð»ùÓÚÑз¢Ð§Âʵķֹ¤¡£ÆóÒµÄÚ²¿µÄÑз¢¹ÜÏß¡°ÓÉȫתר¡±£¬ÒÔǰÆóÒµ¿ÉÄÜÔÚÐí¶àÊÖÒÕÁìÓò¶¼Í¶ÈëÑз¢£¬µ«¶¼²»·ó¾«Õ¿¡£ÏÖÔÚ£¬ËûÃÇ¿ÉÒÔ¶¨Ðĵؿ³µô·Ç½¹µãµÄÑз¢ÏîÄ¿£¬°Ñ×ÊÔ´ºÍÈ˲ż¯Öе½×Ô¼º×îÉÆÓÚ¡¢×î¾ß¾ºÕùÁ¦µÄ¡°ÈÍ·¡±ÊÖÒÕÁìÓò£¬Ñз¢Æ«Ïò±äµÃÔ½·¢¾Û½¹¡£
ΪʲôÆóÒµÔ¸Òâ×Ô¶¯·Ö¹¤£¿Ñо¿·¢Ã÷£¬´Ù³ÉÆóÒµ·Ö¹¤µÄ½¹µãÇý¶¯Á¦ÊÇ¡°½ÏÁ¿ÓÅÊÆ¡±¡£¾ÍÏñÒ»¸ö¹ú¼Ò³ö¿ÚËü×îÉÃÓÀÉú²úµÄ²úÆ·Ò»Ñù£¬ÔÚÁ¢ÒìÁ´ÉÏ£¬ÆóÒµÒ²×îÏÈÑﳤ±Ü¶Ì¡£ÔÚÑз¢·½Ãæ¾ß±¸½ÏÁ¿ÓÅÊÆµÄÆóÒµ£¬»áרעÓÚÑз¢¶øËõ¼õÆä¶ÔÉÌÒµ»¯µÄͶÈ룻¶øÔÚÉÌÒµ»¯·½Ãæ¾ß±¸½ÏÁ¿ÓÅÊÆµÄÆóÒµ£¬»áרעÓÚ²úÆ·ÓªÏú¶øËõ¼õÆäÑз¢Í¶Èë¡£¸üÒªº¦µÄÊÇ£¬·Ö¹¤ÈÃÆóÒµ¡°Ô½×öԽר¡±¡£ÒÑÍùÆóÒµ¿ÉÄÜͬʱ¸ã5¸öÊÖÒÕÁìÓòµÄÑз¢£¬ÏÖÔÚͨ¹ýÊÖÒÕÊг¡ÄÜÂòµ½ÆäËûÁìÓòµÄרÀû£¬¾Í¿ÉÒÔ¿³µôÈõÊÆÁìÓò£¬¾Û½¹×Ô¼º×îÉÆÓ򵀮«Ïò¡£¸÷È˶¼×ö×Ô¼ºÉÆÓÚÇÒ¸ßЧµÄÊ£¬Õû¸öÉç»áµÄÁ¢Òì×ܲú³öÒò´ËÌáÉý¡£
Èý¡¢ÆÆ½âÇ®µÄÄÑÌâ
ÊÖÒÕÊг¡°ïÆóÒµ»º½â¡°ÈÚ×ÊÄÑ¡±
ÆóÒµÃæÁÙµÄÈÚ×ÊĦ²ÁÓëÊÖÒÕÊг¡ÉϵÄÉúÒâĦ²Á£¬³£³£»á±¬·¢ÐþÃîµÄ½»»¥×÷Óá£ËùνÈÚ×ÊĦ²Á£¬¼´ÆóÒµ´ÓÍⲿ»ñÈ¡×ʽð£¨Èç·¢Õ®¡¢¹ÉȨÈÚ×Ê¡¢´´Í¶Ö§³ÖµÈ£©±ÈʹÓÃÄÚ²¿×ʽð±¾Ç®¸ü¸ß¡¢¸üÄÑÌ⣬ÕâÔ´ÓÚÐÅÏ¢²î³Ø³Æ¡¢Æ·µÂΣº¦¼°ÊðÀí³åÍ»µÈÎÊÌâ¡£ÕýÊÇÓÉÓÚÈÚ×ÊĦ²ÁµÄ±£´æ£¬Ðí¶àÆóÒµÓÈÆäÊǿƼ¼ÐÍ´´ÒµÆóÒµÔÚÍÆ¶¯Á¢Òìʱ¾³£ÊÜÖÆÓÚÇ®µÄÄÑÌ⣬²»µÃ²»·ÅÆúÄÇЩËäÈ»¸ßЧµ«Í¶Èë¸ü´óµÄרҵ»¯·Ö¹¤¼Æ»®£»¶øÉúÒâĦ²Á£¬ÔòÖ÷ÒªÌåÏÖÔÚÉúÒâË«·½µÄÕ÷²ÉÆ¥Å䱾Ǯ¸ß¡¢ÐÅÏ¢²î³Ø³ÆµÈÎÊÌâ¡£ºÃ±ÈÂô·½¸üÏàʶÊÖÒÕ×Ô¼º£¬Âò·½¸üÇåÎúÓ¦ÓÃÔ¶¾°£¬µ«Ë«·½ÐÅÏ¢ÄÑÒÔÍêÈ«¶ÔµÈ£¬×è°ÁËÊÖÒÕµÄ˳³©Á÷ת¡£
ÊÖÒÕÊг¡µÄ·ºÆð£¬Í¨¹ý¹¹½¨¸ü͸Ã÷µÄÐÅÏ¢ÍøÂç¡¢±ê×¼»¯µÄÉúÒâÁ÷³ÌÓëרҵµÄ¼ÛÖµÆÀ¹À£¬ÏÔÖø½µµÍÁË֪ʶ²úȨÉúÒâµÄÄѶȣ¬´ó´ó½µµÍÁËÉúÒâĦ²Á¡£µ±ÆóÒµÄܹ»¸üÀû±ãµØÉúÒâÊÖÒÕʱ£¬ËüÃDZ㲻ÔÙÐèÒªÍêÈ«ÒÀÀµÖ÷ÒªµÄÄÚ²¿×ʽðÈ¥Íê³ÉËùÓÐÑз¢»·½Ú¡£Õâ¾ÍÓÐÓõØÍ»ÆÆÁËÈÚ×ÊĦ²Á¶ÔÆóҵרҵ·Ö¹¤µÄÏÞÖÆ£¬¼¤ÀøÆóÒµ¸ü¾Û½¹ÓÚ×ÔÉíÉÆÓڵĽ¹µãÁìÓò£¬¶ø½«ÆäËû»·½Ú½»ÓÉÍⲿÊг¡½â¾ö£¬´Ó¶øÔÚÕûÌåÉÏÍÆ¶¯Á˸üϸÄå¡¢¸ü¸ßЧµÄרҵ»¯·Ö¹¤¡£
ËÄ¡¢·Ö¹¤ÈÃÁ¢Òì¸ü¿ì£¬¾¼Ã¸ü»î
רҵ»¯·Ö¹¤´øÀ´µÄÀûÒæºÜÏÔ×Å£¬²»µ«¿ÉÒÔÌáÉýÆóÒµÁ¢Òì²ú³öÓëı»®¼¨Ð§£¬ÓÐÖúÓÚÂòͨʵÑéÊÒµ½Êг¡µÄ¡°×îºóÒ»¹«À£¬Í¬Ê±¿ÉÒÔÔö½ø¿çÆóÒµ¡¢¿çµØÇøµÄ×ÊÔ´ÓÅ»¯ÉèÖ㨺ñȶ«²¿µÄרÀûÄÜÂôµ½Î÷²¿£¬´ó³§µÄÊÖÒÕÄÜ´«µ½ÖÝÀïÆóÒµ£©£¬×ÊÔ´²»ÔÙÆÌÕÅ£¬´Ó¶øÍÆÏÂÊÖÒÕǰ½øÓë¾¼ÃÉú³¤¡£´ÓÕâ¸ö½Ç¶ÈÉÏÀ´¿´£¬ÊÖÒÕÊг¡²»µ«½öÊÇÉúÒâÆ½Ì¨£¬¸üÊÇÁ¢ÒìµÄ·Ö¹¤ÒýÇæ¡£
Îå¡¢Ñо¿Ð¢Ë³ÓëÕþ²ßÆôʾ
ÕâÏîÑо¿µÄÏÖʵÒâÒåÖØ´ó£¬ÌØÊâÊǹØÓÚרÀûÖÆ¶ÈÉв»¿ÉÊìµÄÉú³¤Öо¼ÃÌå¶øÑÔ£¬ÕâÏîÑо¿¶ÔÉè¼Æ¹«¹²Õþ²ß¾ßÓÐÖ÷ÒªÀíÂÛºÍʵ¼ùÒâÒå¡£Ëü¸æËßÎÒÃǽ¨ÉèÒ»¸ö»îÔ¾¡¢¹æ·¶µÄÊÖÒÕÊг¡£¬²»µ«½öÊǶàÁËÒ»¸öƽ̨£¬¸üÊÇÓÅ»¯¹ú¼ÒÁ¢Òìϵͳ¡¢Íƶ¯¾¼Ã¸ßÖÊÁ¿Éú³¤µÄÒªº¦»ù´¡ÉèÊ©¡£
ÊÖÒÕÊг¡µÄ¼ÛÖµ£¬ÊµÖÊÊÇÈÃÆóÒµÕõÍÑ¡°ÍòÄÜÄÚ¾í¡±£¬ÔÚÁ¢ÒìÁ´ÌõÉÏÕÒµ½×Ô¼º×îºÏÊʵÄλÖã¬ÈÃרÀûÏñÉÌÆ·Ò»Ñù×ÔÓÉÁ÷ͨ£¬»òÐí±È´¿´âÕкô¡°ÆóÒµ¸ãÁ¢Ò족¸üÓÐÓ᣹ØÓÚÕýÔÚ´Ó¡°ÖйúÖÆÔ족ÂõÏò¡°Öйú´´Á¢¡±µÄÎÒÃÇÀ´Ëµ£¬Ã÷È·²¢ÉÆÓá°ÊÖÒÕÊг¡¡±µÄʵÁ¦£¬Íƶ¯ÆóÒµ»ùÓÚ½ÏÁ¿ÓÅÊÆ¾ÙÐÐרҵ»¯·Ö¹¤£¬»òÐíÊÇÌáÉýÈ«ÒªËØÉú²úÂʵÄÒ»Ìõ¸ßЧ·¾¶¡£
×¢£º´ËƪÂÛÎĵÄÅäÏàÖúÕß»¹°üÀ¨£ºÇ廪´óѧÎåµÀ¿Ú½ðÈÚѧԺµÄÌïÐùÏÈÉú¡¢¶ÔÍâ¾¼ÃÉÌÒµ´óѧµÄÁõ´ºÈïÏÈÉú¡£
º«Åô·É½áÒµÓÚ±öϦ·¨ÄáÑÇ´óѧ²¢»ñ¾¼Ãѧ²©Ê¿Ñ§Î»£¬ÏÖΪΰÒײ©½ðÈÚѧϵ¸±½ÌÊÚ¡£ËûµÄÑо¿ÁìÓòÊǿƼ¼Á¢Òì¡¢ÆóÒµ¼Ò´´Òµ¡¢Î£º¦Í¶×Ê¡¢½ðÈڿƼ¼ºÍ¾¼ÃÔöÌí£¬ÓÈΪ¹Ø×¢Öйú¾¼ÃÒÔ¼°Ïà¹ØµÄ¹ú¼Ê½ÏÁ¿¡£ËûµÄЧ¹û½ÒÏþÓÚº£ÄÚÍâ×ÅÃûÆÚ¿¯£¨ÈçManagement Science£©£¬ËûÔÚº£ÄÚÍâ×ÅÃûѧÊõ¾Û»á£¨ÈçNBER Summer Institute Annual Meeting£©ÉϹãΪÐû½²ÂÛÎÄ£¬²¢»ñµÃÁËChina International Conference in Finance×î¼ÑÂÛÎĽ±¡£Ëû×î½üµÄÑо¿¿ÎÌâ°üÀ¨ÖÐÃÀÔڿƼ¼ÁìÓòµÄ¾ºÕù¼°ÖÐÃÀÍѹ³¡¢ÎÒ¹ú̼´ï·åÓë̼ÖкÍÕ½ÂÔ¼°Â·¾¶¡¢ÎÒ¹úÕþ¸®Ö¸µ¼»ù½ðµÄÉú³¤Ä£Ê½£¬ÒÔ¼°Òƶ¯Ö§¸¶Éú³¤Ä£Ê½µÄ¹ú¼Ê½ÏÁ¿¡£ËûµÄÑо¿¿ÎÌâ»ñµÃÁ˹ú¼Ò×ÔÈ»¿ÆÑ§»ù½ðµÄ×ÊÖú¡£