择优政策选择如何影响企业绩效——以经济技术开发区为例的准自然实验

How Does the Choice of Preferential Policy Affect Enterprise Performance? A Quasi-Natural Experiment with the Case of Economic and Technological Development Zone

以经济技术开发区样本为例,结合1998—2007年中国工业企业数据,运用Probit模型和双重差分法(DID),研究了设立经济技术开发区政策是否为择优选择,以及政策实施后对企业绩效的影响。研究发现:(1)设立经济技术开发区政策是一种择优选择,开发区在行业发展水平高的地区设立的概率更大,并且政策提升了地区企业的生产率。(2)对于发展水平具有优势的企业和处于相对劣势的企业,政策对优势企业的生产率的提升效应更大。(3)政策实施后,这种比较优势随时间的变化趋势是整体上先上升后下降,即整体上呈现倒"V"型特征。劣势企业可以借助政策溢出效应和学习效应,发挥后发优势逐步实现对优势企业的追赶。

Taking the samples of the economic and technological development zones as an exam- ple, with the data of China＇s industrial enterprises from 1998 to 2007, this paper makes use of the Probit model and the difference-in-difference method （DID） to study whether the policy of establishing ETDZs is a preferential choice and its impact on the enterprise performance when the policy is come into effect. The findings show that： （1） the policy of establishing ETDZs is a preferential choice, to establish the development zones in the areas with higher level of industrial development has a larger probability, and such policy can improve the productivity of the local enterprises; （2） as for the enter- prises with advantages in their development level and the enterprises with comparative disadvantages, the promotion effect of the policy on the productivity of the advantage enterprises is greater; （3） when the policy is implemented, this kind of comparative advantage will go with the changes of time, showing a tendency of upward first then downward, that is to present a general feature of in- verted ＂V＂ . The inferior enterprises can bring the latter-development advantage into play with the help of the spillover effect and the learning effect of the policy, so as to gradually realize their catching up with the advantage enterprises.