增值税税率改革与企业全要素生产率:基于供应链体系构建视角的分析

VAT Rate Reform and Total Factor Productivity of Enterprises:Analysis based on Construction of Supply Chain Perspective

复杂严峻的国际形势以及新冠肺炎疫情的叠加影响在一定程度上对我国经济高质量发展增加了阻力,为此我们亟需构建高效率的供应链体系。近年来,我国出台了一系列增值税税率改革政策,本文具体探讨这些政策对企业全要素生产率的影响及其中介路径。研究发现,第一,增值税税率改革政策的实施对企业全要素生产率提升具有正面效应。第二,增值税税率改革能助力供应链体系构建并由此提升企业全要素生产率,具体体现为提高了供应链效率、增强了企业自主创新能力这两条中介路径。第三,当客户或供应商集中度较高、企业的内部积累能力较差、面临较高的外部融资约束时,增值税税率改革对企业全要素生产率的提升作用更显著。本研究不仅拓展了增值税税率改革在微观企业层面的政策效果以及企业全要素生产率影响因素的文献,而且为我国探寻进一步优化增值税税制结构的合理方案,以提升供应链效率与企业自主创新能力、达成我国经济高质量发展的目标提供了理论支撑。

The severe international situation combined with COVID-19 has added resistance to the high quality development of China’s economy;therefore,we urgently need to build an efficient supply chain system.In recent years,many consecutive value-added policies have been issued in China.This paper discusses the effect of VAT rate reform policy on total factor productivity of enterprises,as well as its intermediary mechanism.The study found that:First,the implementation of the VAT rate reform policy has improved the total factor productivity of enterprises;Second,the reform of VAT rate can help build the supply chain system and further promote the growth of companies’total factor productivity,which is achieved by two intermediary paths including enhancing the efficiency of the supply chain and the independent innovation capability of enterprises;Third,when the concentration of customers or suppliers is high,the internal accumulation capacity of enterprises is poor or facing high external financing constraints,the VAT rate reform plays a more significant role in improving the total factor productivity of enterprises.This study not only expands the literature on the micro policy effect of VAT rate reform and the influencing factors of enterprise total factor productivity,but also provides a theoretical basis for China to explore a reasonable scheme to further optimize the VAT system structure,so as to improve the supply chain efficiency and enterprise independent innovation ability,and promote the early realization of China’s high-quality economic development goal.