经济政策不确定性与出口企业全要素生产率提升被引量：4

The Uncertainty of Economic Policy and the Increase of Total Factor Productivity of Export Enterprises

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摘要文章基于Baker等测度的国内外经济政策不确定性指数和中国2004—2019年沪深两市主板A股出口上市公司数据,从宏观政策变化影响微观出口企业生产视角,考察了经济政策不确定性对出口企业全要素生产率的影响效果及作用机制。研究结果表明:国内、外经济政策不确定性上升均会促进出口企业提升全要素生产率,国外经济政策不确定性作用效果更明显,且该促进效应对中西部地区企业、服务型行业企业、非国有企业影响更强;在世界经济政策不确定性影响下,出口企业全要素生产率提升速度在第二年、第三年呈下降趋势,而本国经济政策不确定性有利于促进出口企业全要素生产率长期缓慢提升;分析影响机制后发现,经济政策不确定性促进出口企业全要素生产率提升存在“融资约束效应”和“资本、劳动要素配置效应”。 Based on the domestic and foreign economic policy uncertainty index measured by Baker and other scholars and the data of A-share export listed companies on the main board of Shanghai and Shenzhen stock exchanges from 2004 to 2019,this paper examines the effect and mechanism of economic policy uncertainty on the total factor productivity of export enterprises from the perspective of macro policy changes affecting the production of micro export enterprises.The results show that the increase of domestic and foreign economic policy uncertainty promotes export enterprises to improve total factor productivity.The effect of foreign economic policy uncertainty is more obvious,and the promotion effect has a stronger impact on enterprises in central and western regions,service-oriented enterprises,and non-state-owned enter⁃prises;under the influence of the uncertainty of world economic policies,the growth rate of total factor productivity of ex⁃port enterprises shows a downward trend in the second and third years,while the uncertainty of domestic economic poli⁃cies is conducive to the long-term and slow growth of total factor productivity of export enterprises;after analyzing the im⁃pact mechanism,it is found that there are"financing restraint effect"and"capital and labor factor allocation effect"in the promotion of total factor productivity of export enterprises by economic policy uncertainty.

作者高越陈胜发 GAO Yue;CHEN Shengfa(School of Economics,Shandong University of Technology,Zibo 255049,China)

机构地区山东理工大学经济学院

出处《华东经济管理》 CSSCI 北大核心 2022年第4期31-44,共14页 East China Economic Management

基金山东省社会科学规划研究重点项目“全球价值链重构背景下山东省制造业高端价值链稳固与提升研究”(21BJJJ02)。

关键词经济政策不确定性出口企业全要素生产率 economic policy uncertainty export enterprise total factor productivity

分类号 F120 [经济管理—世界经济] F752.62 [经济管理—国际贸易]

作者简介高越(1973-),男,山东淄博人,教授,博士生导师,研究方向:国际生产分割,价值链分工;陈胜发(1997-),男,山东济南人,硕士研究生,研究方向:国际经济理论与政策。