摘要
本文在测算企业全要素生产率与成本加成率的基础上,从企业与行业层面分别检验政府补贴、税收减免与低利率贷款对受扶持企业以及整个行业的影响,识别何种特征的产业政策更有效。结果发现除税收减免外,政府补贴与低利率贷款总体上均降低了受扶持企业的全要素生产率与成本加成率;产业政策对同行业内企业的差异化程度越低、越有利于市场竞争,政策效果越好;体现普惠性与促进市场竞争的产业政策能够激励企业创新,改善企业间的资源配置效率,发挥企业进入与退出市场对加总生产率的促进作用。中国未来应减少选择性产业政策,转向更具普惠性与兼容市场竞争的政策,发挥政府与市场功能的互补性。
This paper evaluates the effects of government subsides,tax exemptions and low interest loans on the productivity and price-cost markups at both firm and industry levels,and tries to identify which types of industrial policy are more effective.Results point to negative impacts of government subsidies and low interest loans on firm-level markup and productivity,while the impact of tax incentives is found to be significantly positive.Industrial policies that are implemented more dispersed across firms and foster competition are found to be more effective.Inclusive and pro-competitive industrial policies can stimulate innovation,improve the efficiency of across-firm resource allocation and facilitate firm entry/exit,which in turn lead to aggregate productivity growth.The results imply that China should move away from selective industrial policy instruments and resort to less-discriminatory and competition-friendly industrial policies.Understanding the complementary role between the government and market is essential for enhanced policy design and implementation.
作者
戴小勇
成力为
Dai Xiaoyong;Cheng Liwei
出处
《世界经济》
CSSCI
北大核心
2019年第3期69-93,共25页
The Journal of World Economy
基金
国家自然科学基金(71804140
71473025)
教育部人文社科基金(18YJC790021)的资助
作者简介
通讯作者:戴小勇,电子信箱:xiaoyong.dai@xjtu.edu.cn;成力为:电子信箱:cliwei60@126.com.
