中国工业行业间的资源错配与效率损失研究

Research on Misallocation and Efficiency Loss Between Industries in China

文章旨在“资源配置与总量生产率”框架下研究提升行业间资源配置效率在启动内需动力和构建国内大循环为主体的新发展格局中的重要作用。文章以1999-2013年中国工业企业数据库为研究样本,采用陈永伟、胡伟民(2011)建立的引入中间投入要素的资源配置效率研究框架,测度了资本、劳动和中间投入错配造成的效率损失和产出缺口。研究发现:(1)考察期行业间的劳动、资本、中间投入三大要素对产出的扭曲变动效应均为负数,表现为“中间投入扭曲带来的影响>资本扭曲带来的影响>劳动扭曲带来的影响”,中间投入的影响最大且呈现扩大趋势。(2)资源错配造成的产出缺口平均为8%。其中资本错配造成的效率损失约为劳动错配造成效率损失的2倍,中间投入造成的资源错配效率损失约为劳动错配造成效率损失的4倍。(3)工业产出和TFP变动的分解表明,要素投入增长依旧是中国工业发展的决定性因素,各行业TFP的提升主要动力源于各个行业总体TFP的增长,份额效应和扭曲改变效应微乎其微。(4)资源错配影响因素的分析表明,行业集中度越高、国有企业比重越大的行业存在不同程度的资本和中间投入过量问题。文章研究表明加强中间投入的资源优化配置对于启动内需和构建双循环体系有着重要的意义。

Under the framework of“resource allocation and total productivity”,this paper aims to study the important role of improving the efficiency of inter industry resource allocation in starting the power of domestic demand and building a new development pattern with domestic big cycle as the main body.Therefore,based on the data base of China s industrial enterprises from 1999 to 2013,this paper measures the efficiency loss and output gap caused by the mismatch of capital,labor and intermediate input by using the resource allocation efficiency research framework established by Chen Yongwei and Hu Weimin(2011).The results show that:(1)From the perspective of time trend,the distortion effect of labor,capital and intermediate input on output is negative,which shows that“the impact of intermediate input distortion>the impact of capital distortion”.The impact of intermediate input is the largest and shows an expanding trend.(2)The average output gap caused by resource mismatch is 8%.The efficiency loss caused by capital mismatch is about 2 times that caused by labor mismatch,and the efficiency loss caused by intermediate input is about 4 times of that caused by labor mismatch.(3)The decomposition of industrial output and TFP change shows that the growth of factor input is still the decisive factor of China s industrial development.The main driving force of TFP improvement in various industries is the growth of TFP in general,and the share effect and distortion change effect are negligible.(4)The analysis of the influencing factors of resource mismatch shows that the industries with higher industry concentration and higher proportion of state-owned enterprises all have the problems of excessive capital and intermediate investment to varying degrees.This study shows that strengthening the optimal allocation of resources with intermediate investment is of great significance for starting domestic demand and building a dual cycle system.