产业政策对全要素生产率的影响研究——基于竞争性与公平性视角

The impact of industrial policy on total factor productivity:based on the perspective of competition and fairness

经济增长本质上是一个生产率不断提升的过程,而这一过程的实现需要市场的有效竞争,也需要政府的合理干预。选取2008—2012年中国制造业830家上市公司作为研究对象,实证检验了产业政策、市场竞争与全要素生产率之间的关系。研究发现:低息贷款对于全样本企业的全要素生产率的提高存在明显的促进效应,但政府补助与税收优惠两项政策工具只在非国有企业中显示出了显著的正向作用。另外,对于产业政策的实施路径问题,研究发现,在行业层面,产业政策应该强调竞争,倾向于高竞争态势行业的产业政策更能提高该行业的全要素生产率;而在行业内部,产业政策则应该强调公平,政策资源在行业内部的分配越均衡则越有利于全要素生产率的增长。

Economic growth is essentially a process of continuous improvement in productivity,and the realization of this process requires both effective market competition and reasonable government intervention. This paper empirically examines the relationship between industrial policy,market competition and total factor productivity（ TFP）,using the data of 830 listed manufacturing companies in China from 2008 to 2012. The results show that low-interest loans have a significant effect on the improvement of TFP,but government subsidies and tax incentives show a significant positive effect only in non-state enterprises. In addition,for the implementation path of industrial policy,the article shows that industrial policies should emphasize competition at the industry level and emphasize fairness within the industry,as high competitive industrial policy at the industry level and balanced allocation of policy resources within the industry can both benefit the growth of TFP.