供给侧改革背景下制度性交易成本测度及降低成效差异比较

Comparison of Institutional Transaction Cost Measurement and Reduction Effectiveness Differences in the Context of Supply-side Reform

本文以“三去一降一补”政策出台为准自然实验,运用双重差分模型测度了不同行业制度性交易成本高低程度及降低成效差异。研究发现:竞争性行业制度性交易成本高于垄断性行业;政策出台显著降低了竞争性行业制度性交易成本,且降低幅度随着时间的推移呈现递增趋势;与国有企业相比,民营企业政策响应更加积极,政策效果更加明显。

This paper takes the"cutting overcapacity,reducing excess inventory,deleveraging,lowering costs,and strengthening areas of weakness"policy reform as the quasi-natural test,uses the Difference-in-Difference Model to the difference in the degree of institutional transaction costs and the effectiveness of reduction in different industries.The study finds that The institutional transaction costs of competitive industries are higher than those of monopolistic industries;the policy has significantly reduced the institutional transaction costs of competitive industries,and the reduction has shown an increasing trend over time;compared with state-owned enterprises,the policy response of private enterprises is more positive and the policy effect is more obvious.