Abstract: The theoretical basis, influencing mechanism and functional effects of free trade areas have changed with the evolution of depth of bilateral free trade agreements and the changes in trade patterns and trade formation caused by GVC Based on the depth evolution of bilateral free trade agreements and its heterogeneity compared to other regional trade agreements, this paper incorporates the theory of corporate property rights into the theoretical framework of free trade areas to form a multidimensional theoretical mechanism between GVC and bilateral free trade areas In addition, a modified gravity model adapted to the development of GVC and the World Banks trade agreement content database are used to conduct empirical analysis to test the theoretical mechanism hypothesis The empirical results show that the depth of the bilateral free trade agreement has a positive impact on the global value chain linkages between member countries; the depth of investmentrelated provisions has a greater impact on the global value chain linkages between member countries than the depth of traderelated provisions; differences of the member countries also influence the effect of bilateral free trade areas on GVC linkage between member countries Differentiating the depth of a free trade area based on the target country is important in the construction of a bilateral free trade area This study will provide some policy references for constructing a highstandard free trade areas network to choose target countries and free trade area model

Key words: bilateral free trade agreement, depth of agreement, gravity model, global value chain

摘要： 双边自由贸易协定深度嬗变，全球价值链引致贸易形成机制和形式变化，使得自由贸易区理论基础、影响机制和功能效应更替。本文基于对双边自由贸易协定深度演化以及相较于其他区域贸易协定的深度异质性研究，将公司产权理论纳入自由贸易区理论框架，形成双边自由贸易区内全球价值链效应的多维理论机制，并且运用适应全球价值链发展的修正引力模型和世界银行的贸易协定内容数据库对理论机制假设结论进行实证检验。研究发现：双边自由贸易协定总深度对区内成员国之间的全球价值链关联产生正向影响，相较于贸易相关条款深度而言，投资相关条款深度影响更大。此外，自由贸易区对象国差异性也会影响双边自由贸易区全球价值链效应的发挥。根据对象国不同选择差异化的自由贸易区深度在双边自由贸易区构建中重要性凸显。本文将为全球价值链背景下中国构建高标准自由贸易区网络的对象国选择、自由贸易区模式选择等提供政策参考。

关键词: 双边自由贸易协定, 协定深度, 引力模型, 全球价值链