减税降费赋能企业高质量发展了吗?

Can Tax Reduction and Fee Reduction Enable Enterprises to Develop with High-quality?

高质量发展背景下,作为市场微观主体的企业要想实现高质量的发展,相关财税政策的支持十分必要。通过选取2016年全面营改增作为减税政策的代理政策和养老保险费率降低政策作为降费政策的代理政策,构建断点回归模型,实证得出减税政策和降费政策均可显著提高企业的全要素生产率,并且减税降费政策产生的协同效应要大于单个政策的影响效果。在此基础上,进一步研究了减税降费提升企业全要素生产率的作用机制,并通过实证检验,表明:减税降费通过研发投入、融资约束和规模效应等路径,提升了企业全要素生产率。研究结论厘清了减税降费政策对全要素生产率的作用机制,有利于评价减税降费的政策效果,并为政府部门制定出更能激发企业生产要素活力的相关政策提供了理论依据。

Under the background of high-quality development,the support of relevant fiscal and tax policies is very necessary if the enterprises,as the micro-subjects of the market,want to achieve high-speed and highquality development.In this paper,we mainly choose“VAT replacing Business Tax in 2016”as the proxy variable of tax reduction and the reduction of endowment insurance premium rate as the proxy variable of fee reduction in 2016,and construct the regression discontinuity model.The empirical results show that both the tax reduction policy and the fee reduction policy can significantly improve the total factor productivity of enterprises,and the synergistic effect of the tax and fee reduction policy is greater than that of the single policy.This paper further studies the mechanism of tax reduction and fee reduction to promote the total factor productivity of enterprises.Through theoretical and empirical analysis,the results are as follows:Tax reduction and fee reduction have improved the total factor productivity of enterprises through R&D investment,financing constraints and scale effect.The study clarifies the mechanism of the tax reduction and fee reduction policy to the total factor productivity.It is helpful to evaluate the policy effect of tax reduction and fee reduction and it provides the theoretical basis for the government to make decision to better stimulate the factors’efficiency of enterprises.