臺灣製造業巨星廠商對於出口貿易之影響

Abstract

台灣的製造業出口高度集中。從 2010 年到 2019 年，各產業中出口額排名前 1% 的企業(即超級巨星企業)貢獻了超過 60% 的出口總額。在台灣的 158 個製造業子產業中，這些超級巨星企業創造了 13% 的產業比較優勢，並與整體產業出口增長密切相關。研究顯示，每年各產業超級巨星的集中度提高 1 個百分點，整體產業出口增長約 0.49%，這一增長主要來自超級巨星企業在現有市場中的出口成長(集約邊際)。這一正向關聯僅在那些超級巨星企業生產力較高且研發投入密集的產業中顯著。然而，超級巨星集中度的增加對出口增長的長期影響並不顯著。在研發投資較高的產業中，集中度的提升改變了出口增長的結構。超級巨星企業與非超級巨星企業均更傾向於專注於現有產品與市場的出口(集約邊際)，而減少對新產品或新市場(擴展邊際)的投入。這些研究結果為制定貿易與產業政策提供了重要啟示。在針對大型企業的政策設計中，應同時促進產業出口的增長和多元化發展，並加強對非超級巨星企業的支持，實現更均衡的產業進步。

Taiwanese manufacturing exports are highly concentrated. From 2010 to 2019, the top 1% of firms by export amounts in each sector, known as ”superstars,” accounted for over 60% of exports. These firms drive comparative advantage in 13% of Taiwan’s 158 manufacturing sectors and have a substantial impact on aggregated sectoral growth. Annually, a one-percentage-point increase in superstar concentration growth correlates with a 0.49% rise in aggregated sectoral export growth, primarily driven by superstars’ exports to existing markets (intensive growth). This positive association is observed only in sectors where superstars are highly productive and R&D-intensive. However, the long-term impact of increased superstar concentration on export growth is not significant. In sectors with high R&D investment by superstars, heightened concentration reshapes export growth composition. Both superstars and non-superstars shift focus towards intensive margins, reducing exports of new products or to new destinations. These findings provide policy implications for developing trade and industrial strategies. Targeting the largest firms could enhance sectoral export expansion, promote diversification, and foster inclusiveness for non-superstars.