讲座题目：Vertical Integration, Foreclosure, and Learning-by-Doing: Evidence from the Chinese Electric Vehicle and Power Battery Industries（垂直整合、市场圈定与干中学：来自中国电动汽车和动力电池行业的证据）

主讲人：肖俊极 香港岭南大学 副教授

讲座时间：2024年3月21日15 :30

讲座地点：学院440

讲座内容摘要：

This paper studies the competitive and welfare effects of the vertical integration and foreclosure strategy employed by BYD, the leading Chinese manufacturer in successive oligopoly markets of power batteries and electric vehicles (EV). Our findings reveal that integration generates procompetitive effects by eliminating double marginalization, while foreclosure generates both anti-competitive effects by raising BYD rivals' input prices and efficiency effects by switching battery outputs to firms with less experience while diminishing returns exist in the learning-by-doing process. The counterfactual analysis suggests that BYD would have yielded even higher profits if it had not applied the foreclosure strategy, and consumer welfare would have been higher as well. The study highlights the importance of considering learning-by-doing in assessing the efficiency of vertical integration and foreclosure.

本文研究了中国主要的电动汽车和动力电池制造商比亚迪在逐渐变成寡头竞争的市场结构中采取的垂直整合和市场圈定策略所带来的竞争效应和福利效应。我们发现垂直整合可以去掉双重边际加价从而产生促进竞争的效果；市场圈定有双重效果，一方面不利于竞争，因为提高了比亚迪竞争对手投入品的价格， 另一方面可以提高效率，因为动力电池的生产转移到了经验较少的企业，而干中学具有收益递减的特点。反事实分析表明，比亚迪如果不采取市场圈定策略的话利润会更高，消费者福利也会更高。我们的研究表明在评估垂直一体化和市场圈定的效率时应该考虑到干中学的重要性。

主讲人学术简介：

肖俊极，香港岭南大学经济学系副教授，2006年获多伦多大学经济学博士学位，主要研究领域为产业组织、环境经济学、中国经济等，曾任教于上海财大、复旦大学、香港中文大学、悉尼科技大学等，研究论文发表在International Economic Review、Review of Economics and Statistics、Journal of Industrial Economics、International Journal of Industrial Organization、 Journal of Environmental Economics and Management、Journal of the Association of Environmental and Resource Economists、American Journal of Agricultural Economics 等经济学顶尖期刊上。