产业补贴配置方式对企业全要素生产率提升效应研究——基于装备制造业上市公司数据的实证分析

发布时间：2018-08-29 09:51

【摘要】：政府补贴是实施产业政策的重要手段之一,但对资源配置的扭曲效应也日益凸显。相对于选择性补贴,竞争性补贴对市场秩序的负面作用较小,更有助于促进企业创新、提升全要素生产率。利用673家装备制造业上市公司非平衡面板数据,实证检验了竞争性补贴与企业全要素生产率的关系。结果显示:政府补贴在行业内的集中度越低,越有利于全要素生产率的提升,即竞争性补贴对全要素生产率有显著促进作用。其中,技术进步效率(TC)和规模改善效率(SEC)更容易得到竞争性补贴的正向贡献,而其对技术改善效率(TEC)为抑制作用。为推动供给侧改革和产业转型升级,我国应进一步深化产业政策实施手段的创新,注重竞争性普惠式的财税支持,减少政府对资源配置机制的过度干预。
[Abstract]:Government subsidy is one of the important means to implement industrial policy, but the distorting effect on resource allocation is becoming more and more prominent. Compared with selective subsidies, competitive subsidies have less negative effect on market order, which is more helpful to promote enterprise innovation and enhance total factor productivity. Using non-equilibrium panel data of 673 listed equipment manufacturing companies, this paper empirically tests the relationship between competitive subsidies and total factor productivity (TFP). The results show that the lower the concentration of government subsidies in the industry, the more conducive to the promotion of total factor productivity, that is, competitive subsidies have a significant role in promoting total factor productivity. Among them, (TC) of technological progress efficiency and (SEC) of scale improvement efficiency are more likely to get positive contribution of competitive subsidy, while (TEC) is a disincentive to technological improvement efficiency. In order to promote supply-side reform and industrial transformation and upgrade, China should further deepen the innovation of industrial policy implementation means, pay attention to competitive and inclusive fiscal and tax support, and reduce excessive government intervention in the mechanism of resource allocation.
【作者单位】：西安交通大学经济与金融学院;
【基金】：国家自然科学基金青年项目(71503198) 中国博士后科学基金面上项目(2016M590932)
【分类号】：F425;F812.45

【参考文献】