政府补贴对制造业资源误置的影响研究

Research on the Impact of Government Subsidies on Manufacturing Resource Misallocation

通过构造四位码行业与政府补贴相匹配的面板数据,研究我国政府补贴对制造业资源误置的影响。结果发现,政府补贴显著降低了制造业的资源误置程度;政府补贴的资源配置效应与行业的国有化程度显著负相关,与行业竞争程度显著正相关。这一发现与新结构经济学的理论推断保持内在逻辑的一致性,即市场是资源配置的根本机制,但政府应发挥积极的因势利导作用,以促进结构变迁和经济增长。

By constructing panel data of 4-digit industries and government subsidy,we study the effect of government subsidy on manufacturing industries resource misplacement. We find that government subsidy sig- nificantly reduces manufacturing industries resource misplacement. The resource allocation effect of govern- ment subsidy is negatively correlated with the industry state-capitalization degree and positively correlated with the industry competition degree. This finding is consistent with the theoretical prediction of ＂New Structural Economics＂. The market is the basic mechanism for resource allocation but the government can play an inducing role to facilitate structural change and economic growth.