摘要
行业间资源错配通过降低资源配置效率水平,进而造成全要素生产率(TFP)和总产出损失。通过构建异质性的行业模型,测算了中国2002-2013年国民经济各行业的资源错配系数和由此产生的TFP损失度。模型中考虑了由于教育水平不同导致的行业人力资本的差异。研究发现:第一,中国经济存在显著的物质资本和人力资本的错配;第二,物质资本错配是造成TFP和总产出损失的主要因素;第三,人力资本的错配通过影响物质资本的配置效率,间接地造成总体TFP的损失。反事实实验表明:将资源错配全部消除,TFP和总产出可以提高109%;仅消除资本错配,TFP和总产出将提高78.9%。因此,降低要素市场上的扭曲和错配是提升经济效率和促进供给侧改革的重要措施。
Industrial allocation efficiency is an important factor affecting the total factor productivity of the economy.However,resource misallocation would reduce allocation efficiency and lead to TFP and output loss.This paper builds a heterogeneous multi-sector model,then uses the industrial level data between 2002 and 2013 in China,to estimate the coefficients of the factors（capital and labor）misallocation,and the corresponding TFP loss.Due to the differences of human capital from the discrepancy of education among industries,we examine the role of industrial human capital in resource misallocation.Our findings are：first,physical capital and human capital misallocation have significant impact on China economy;second,the physical capital misallocation is the main factor causing the TFP and total output loss;third,by affecting capital allocation efficiency,human capital misallocation indirectly generates the TFP loss.Counterfactual experiments show that by eliminating all resource misallocation,TFP and total output level can be increased by 109%;if only eliminating the capital misallocation,TFP and total output will increase by 78.9%.Therefore,reducing capital market distortions and capital misallocation is an important measure to improve economic efficiency and promote supply side reform.
作者
陈言
李欣泽
Chen Yan;Li Xinze(Center for Economic Research,Shandong University,Jinan 250100,P.R.China;Institute of New Structural Economics,Peking University,Beijing 100080,P.R.Chin)
出处
《山东大学学报（哲学社会科学版）》
CSSCI
北大核心
2018年第4期146-155,共10页
Journal of Shandong University(Philosophy and Social Sciences)
基金
国家自然科学基金重大项目"异质性融资约束
企业并购与实体经济资本配置效率研究"(71573159)
山东大学青年团队项目"开放经济下的宏观稳定性研究"(IFYT17053)
关键词
多部门模型
行业人力资本
资源错配
要素扭曲
全要素生产率
Multi-Sector model
Industrial human capital
Resource misallocation
Factor misallocation
Total factor productivity
