政府补贴、政府治理能力与出口企业风险承担

Government Subsidy,Governance Capability and Risk-taking of Export Enterprises

利用2000—2006年中国工业企业数据库数据、中国海关贸易数据库数据以及中国省区地方政府投入-产出数据核算的地方政府治理能力指标,对政府补贴、政府治理能力与中国出口企业风险承担水平之间的相互关系进行了研究。研究结果表明:政府补贴会因寻租与错配问题成为对出口企业的"绊脚石",从而降低出口企业风险承担水平;地方政府的治理能力则会成为政府补贴的"垫脚石",改善政府补贴的效率,进而促进出口企业风险承担水平的提升;政府治理能力与政府补贴对不同出口密集度、所有制性质、贸易方式、行业资本密度的出口企业具有显著差异性。因而,虽然政府补贴总体上会降低出口企业风险承担水平,但是政府治理能力的改进可以提升政府补贴的效率,从根本上改变政府补贴降低出口企业风险承担水平的状态。

This paper combines the export corporate data between Chinese manufacturing firms data and Chinese Customs Trade data over 2000—2006 and calculates the index of governance capability,using the input-output data of province government in China,then makes a theoretical and empirical study on the relationship between governance capability,government subsidy and China＇ s export corporate risk-taking.The results showthat government subsidies will reduce the level of export corporate risk-taking,the local governance capability will improve the efficiency of government subsidies then promote export corporate risk-taking level,and there is significant heterogeneity for different trade export intensity,ownership,and the mode of trade and the density of industry capital.In this paper,the research results showthat the government subsidies will reduce the risk-taking level of corporate overall,while the governance capability can promote the efficiency of government subsidies and the level of resource allocation and then will fundamentally change the status of corporate risk-taking level.