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。
Government subsidy is one of the important means of the industrial policy,but the distortion effect on the allocation of resources is also growing. Compared with the selective subsidy,competitive subsidy has less negative effect on market order,and is more conducive to promoting enterprise innovation as well as improving the total factor productivity. This article uses the unbalanced panel data of 673 listed companies in equipment manufacturing industry and empirically tests the relationship between competitive subsidy and enterprises＇ total factor productivity. The results show that the lower concentration degree of government subsidy in the industry,the more benefit to the raise of TFP,which means competitive subsidy can significantly promote the total factor productivity. In terms of the decomposed indexes of TFP,the technical change（ TC） and the efficiency of scale change（ SEC） are more likely to get positive contribution from competitive subsidies,while the efficiency of technical change（ TEC） would get negative effect from them. In order to promote the reform of the supply side and industrial transformation and upgrading,China should further deepen the innovation of the industrial policy and take competitive and beneficial fiscal support to reduce the governmental excessive intervention on resource allocation mechanism.
出处
《经济经纬》
CSSCI
北大核心
2017年第4期99-104,共6页
Economic Survey
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)
