资源错配研究述评

Review on the Study of Resources Misallocation

在传统的经济增长理论下,市场有效和资本收益递减规律决定了跨国人均收入的差距只能由国别间的TFP差距所致,且技术差距是导致TFP国别差距的唯一因素。但近期研究表明,资源错配造成的不同国家间全要素生产率的差异是导致跨国人均收入差距的主要原因。市场失灵和政府制度造成的行业内各企业要素投入的边际收益产品的横截面差异,会导致资源配置效率下降,并对产出水平和经济增长率产生影响。随着我国从计划经济向市场经济转型,我国资源配置效率整体上得到了改善,但依然存在较严重的资源错配。所有制歧视、分税制带来的市场分割、户籍制度对劳动力自由流动的阻碍、金融扭曲造成的摩擦是造成国内资源错配和TFP损失的主要原因。

Under the traditional theory of economic growth, both effective market and the law of diminishing returns of capital co-decide the difference of income among different countries, and under the assumption, technical gap is the sole element leading to the TFP difference among countries. But recent studies show that maybe resource misallocation has another reason. As market failure and government regulations result in the cross-sectional difference of factors＇ marginal revenue product among firms. With transition from plan economy to market economy, efficiency of resource allocation in China has been improved on the whole, but still there is a serious misallocation of resources. Ownership discrimination brought by dual-track system, market segmentation brought by tax distribution system, the impediment of labors＇ free movement from household registration system and financial friction are the major reason to result in China＇s resource misallocation and TFP loss.