我国僵尸企业的识别、形成机制及治理研究

Research on Identification,Forming Mechanism and Governance of Zombie Enterprises in China

僵尸企业的存在降低了市场资源配置效率,严重阻碍经济健康发展,成为我国经济转型和产业升级面临的重要问题。探寻僵尸企业的识别标准及形成机制,对于破解僵尸企业难题、推进供给侧改革具有重要意义。在国内外研究成果的基础上,以四类不同的僵尸企业识别标准为切入点,构建基于政、银、企三方视角的综合识别体系,进而从形成机制和有序出清两个方面对我国僵尸企业做出尝试性探讨。研究表明:地方政府竞争、要素价格扭曲和政、银、企合谋的三重约束是僵尸企业形成的主要原因。因此,需要采取改革地方政府竞争机制,健全要素市场分配机制,切断政、银、企合谋链条等措施以加快僵尸企业有序出清的步伐。

The existence of zombie enterprises reduces the efficiency of market resource allocation and seriously hinders the healthy development of the economy.It has become an important issue facing China's economic transformation and industrial upgrading.Exploring the identification standard and formation mechanism of zombie enterprises is of great significance for solving the zombie enterprise problems and promoting supply-side reform.Based on the research results from both domestic and foreign perspective,this paper uses four different types of zombie enterprises identification standards as the starting point to constructa comprehensive identification system based on the perspectives of government,bank and enterprises and then make a tentative discussion of zombie enterprises in China from two aspects of the formation mechanism and orderly clearing.The research shows that local government competition,factor price distortion and the triple constraint of government,bank,and enterprise collusion are the main reasons for the formation of zombie enterprises.Therefore,in order to speed up the orderly clearing of zombie enterprises,it is necessary to adopt a reform of local government competition mechanism,improve the factor market distribution mechanism,and cut off the collusion chain of government,bank and enterprises.