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声誉效应还是寒蝉效应?——信用秩序强化与区域生产率增长 被引量:5

Reputation Effect or Chilling Effect?——Strengthening Credit Order and Regional Productivity Growth
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摘要 借鉴两区制空间Durbin固定效应模型对信用秩序强化的空间互动形式进行检验,并构建SLX模型将声誉效应和寒蝉效应进行嫁接综合,探讨信用秩序强化空间互动对地区生产率影响。研究证实:①"逐底竞争"和"竞相向上"非对称性并存是信用秩序强化空间互动典型形式;信用秩序强化实质为制度供给过程,兼具声誉效应和寒蝉效应,声誉效应倒逼企业加强创新促进区域生产率增长,寒蝉效应则驱使企业选择跨地迁址;②非正式信用制度在缓冲正式信用制度对地区生产率冲击的同时,在某种程度上降低其跨区域互动溢出能力,保持行政区划内社会信用网络相对稳定;③信用秩序引致企业跨地区迁移进而导致区域生产率重新布局现象集中于西部地区内部;信用秩序强化对国有企业和私营企业生产率具有显著的声誉效应,而外资企业更多受寒蝉效应影响,侧面印证"污染避难所假说"在中国的存在性;④信用秩序对区域生产率增长传导机制更多地体现为技术效率而非技术进步。本文的政策启示有:一方面,正视信用建设区域异质性问题,优化信用治理结构及机制,加强规范性监管与内生性激励,强化跨地区有效治理与合作共治,挖掘声誉效应对地区生产率潜在支持;另一方面,重视正式与非正式制度间耦合交互,创建能带来可靠承诺的社会环境,提高信用制度执行适应性和有效性。 This paper uses the Durbin fixed effect model of two district system space to test the form of spatial interaction of credit order strengthening,and constructs SLX model to graft reputation effect and chilliny effect to explore the impact of spatial interaction of credit order strengthening on regional productivity.The results show that:(1)the asymmetric coexistence of"bottom competition"and"competing upward"is a typical form of credit order strengthening spatial interaction;the essence of credit order strengthening is the process of institutional supply,which has both reputation effect and chilliny effect;reputation effect forces enterprises to strengthen innovation and promote regional productivity growth,and chilliny effect drives enterprises to choose to move across regions;(2)while buffering the impact of formal credit system on regional productivity,informal credit system reduces its cross regional interaction spillover ability to some extent,and maintains the relative stability of social credit network within the administrative region;(3)credit order leads to the cross regional migration of enterprises,which leads to the re distribution of regional productivity concentrated in the western region;the impact of credit order strengthening on state-owned enterprises and private enterprises’productivity has a significant reputation effect,while foreign-funded enterprises are more affected by chilliny effect,which confirms the existence of"pollution shelter hypothesis"in China;(4)the transmission mechanism of credit order to regional productivity growth is more embodied in technical efficiency than technological progress.The poliy implicatims of this paper are as follaws:on the one hand,we should face up to the regional heterogeneity of credit construction,optimize credit governance structure and mechanism,strengthen normative supervision and endogenous incentive,strengthen cross regional effective governance and cooperative co governance,and tap the potential support of reputation effect to regional productivity;on the other hand,we should attach importance to the coupling interaction between formal and informal institutions,and create a social environment that can bring reliable commitment to improve the adaptability and effectiveness of credit system implementation.
作者 陈海盛 Haisheng Chen(Zhejiang Provincial Credit Center,Hangzhou,China)
机构地区 浙江省信用中心
出处 《南大商学评论》 2020年第3期46-67,共22页 Nanjing Business Review
基金 浙江省软科学研究计划项目“浙江省打造国际一流信用环境研究”(2019C35078) 浙江省哲学社会科学规划课题“推动我省第三方信用服务业发展的建议”(19NDYD43YB)
关键词 信用秩序 空间互动 区域异质性 寒蝉效应 声誉效应 Credit Order Spatial Interaction Regional Heterogeneity Chilling Effect Reputation Effect
作者简介 陈海盛(1990-),瑶族,湖南郴州人,民革党员,浙江省信用中心中级经济师。主要研究领域为社会信用网络分析。E-mail:824269532@qq.com。
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