资本有机构成深化与绿色全要素生产率增长:基于2004—2019年中国地级及以上城市的实证研究

Organic Composition of Capital Deepending and Green Total Factor Productivity Growth:An Empirical Study Based on Chinese Cities at Prefecture Level and Above from 2004 to 2019

绿色全要素生产率增长是实现高质量发展的重要标识。现有研究从多个维度对绿色全要素生产率增长展开了诱因识别,其中较少的研究是在马克思政治经济学范式下展开。绿色全要素生产率增长主要源于技术进步和资源配置潜力,在马克思资本有机构成理论下,意味着资本有机构成深化是影响绿色全要素生产率增长的关键变量。文章首先从理论上解构资本有机构成深化与绿色全要素生产率增长之间的经济逻辑,进而利用2004—2019年中国地级及以上城市的市辖区数据进行实证研究。研究发现:资本有机构成深化形成了绿色全要素生产率增长的关键诱因,这一结论通过了格兰杰因果分析、工业企业口径下的再检验等多重稳健性检验。异质性分析显示,在新常态以来中国经济增长模式的转换下,资本有机构成深化对绿色全要素生产率增长的边际效应得到了强化。进一步的机制研究显示,静态视角下资本有机构成深化主要通过优化资源配置效率推动绿色全要素生产率增长;动态视角下,与禀赋结构相偏离的资本有机构成深化使得要素无法得到有效利用,此种“错位”也引导着资本有机构成不断地自我调整,诱使企业和社会内生出技术进步以矫正要素配置扭曲状态。文章所得研究结论能够为中国政府在“十四五”乃至更长时期内推动高质量发展提供政策启示。

Green total factor productivity growth is an important marker for achieving quality development.Existing stud⁃ies have developed the identification of causal factors for green total factor productivity growth in multiple dimensions,with fewer of them developed under the Marxian political economy paradigm.Green total factor productivity growth mainly stems from technological progress and resource allocation potential,and under Marx's theory of organic composition of capital,this implies that deepening of organic composition of capital is the key variable affecting green total factor productivity growth.This paper first theoretically deconstructs the economic logic between the deepening of organic composition of capital and green total factor productivity growth,and then conducts an empirical study using data for municipal districts of prefecturelev⁃el and above cities in China from 2004 to 2019.It is found that the deepening of the organic composition of capital forms a key causal factor in green total factor productivity growth,and this finding passes multiple robustness tests such as Granger cau⁃sality analysis and re-testing under the caliber of industrial firms.The heterogeneity analysis shows that the marginal effect of the deepening of the organic composition of capital on green total factor productivity growth has been reinforced in the context of the shift in China's economic growth model since the New-Normal.Further mechanistic studies show that deepening of the organic composition of capital in a static perspective drives green total factor productivity growth mainly through optimizing resource allocation efficiency.In a dynamic perspective,the deepening of the organic composition of capital that deviates from the endowment structure prevents the efficient use of factors,and this"misalignment"also leads to the continuous self-adjust⁃ment of the organic composition of capital,inducing enterprises and society to endogenize technological progress to correct the distortion of factor allocation.The findings of this paper can provide policy insights for the Chinese government to promote high-quality development in the 14th Five-Year Plan period and beyond.The formation of organic composition of capital in line with the characteristics of local endowments is a key initiative to sustainably enhance green total factor productivity in cities;Continuously improving the mechanism for market-based allocation of factors,especially focusing on strengthening the role of market mechanisms in price signaling;Optimizing factor income distribution and demand-side structure to guide green technology choices of micro enterprises and the whole society.With the key variable of organic composition of capital,this paper intends to add a novel perspective of Marxian political economy to the study of green total factor productivity growth,thus promoting the relevant research progress.Firstly,this paper highlights the concept of deepening the organic composition of capital,and explores in depth the inner"causal logic law"and specific mechanisms between organic composition of capital deepening and green total factor productivity growth;Secondly,this paper quantifies the political economy concept of organic composition of capital,and uses data from 264 Chinese cities at the prefecture level and above to conduct rigorous empirical tests for research hypotheses.