金融发展、企业研发融资约束缓解与全要素生产率增长——来自中国工业企业层面的经验证据
发布时间：2019-06-08 13:56
【摘要】：本文对G-S模型进行拓展,从理论层面刻画了金融发展通过缓解企业的研发融资约束来提升企业的全要素生产率的作用机理,采用2005-2007年中国工业企业数据,验证了G-S模型的理论预期。同时,本文研究发现:若不考虑金融发展的融资约束缓解效应,研发对企业的全要素生产率并没有表现出预期的促进作用;较之于国有、外资企业等,金融发展在缓解私营企业的研发融资约束进而推动其全要素生产率的增长上扮演着更为重要和显著的角色;分地区估计表明,金融发展的融资约束缓解效应在东部最为显著,在西部则最弱。这表明在深化金融体制改革的基础上消除基于所有制性质的信贷歧视并协调区域金融发展差异,应成为我国进一步转变经济发展方式的题中应有之义。
[Abstract]:In this paper, the G / S model is extended, and the mechanism of financial development to enhance the total factor productivity (TFP) of enterprises by alleviating the R & D financing constraints of enterprises is described theoretically, and the data of Chinese industrial enterprises from 2005 to 2007 are adopted. The theoretical expectation of the G 鈮，
本文编号：2495337
[Abstract]:In this paper, the G / S model is extended, and the mechanism of financial development to enhance the total factor productivity (TFP) of enterprises by alleviating the R & D financing constraints of enterprises is described theoretically, and the data of Chinese industrial enterprises from 2005 to 2007 are adopted. The theoretical expectation of the G 鈮，
本文编号：2495337
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