区域经济政策与企业全要素生产率——基于“长江经济带”经济政策的准自然实验研究

Regional Economic Policy and Enterprise Total Factor Productivity:A Quasi-Natural Experiment Based on Development Policy of the Yangtze River Economic Belt

本文以长江经济带经济政策实施为准自然实验,运用DID-PSM方法检验了区域经济政策对企业全要素生产率的影响及作用机制。研究表明:区域经济政策会显著促进长江经济带企业全要素生产率提高,主要通过改善融资环境、研发环境和人才环境三种渠道实现;异质性分析结果表明,与长江经济带下游企业相比,中上游企业受到区域经济政策的影响相对更大;在中上游企业中改善融资环境发挥的作用更强,而在下游企业中改善研发环境和人才环境发挥的作用更强。本文结论对今后进一步缩小区域差距、促进经济统筹协调和高质量发展提供一定参考。

Using Outline of Yangtze River economic belt development plan as a natural event, this paper uses the DID-PSM method to test the impact of regional economic policy on high-quality enterprise development from the perspective of enterprise total factor productivity and its influencing mechanism.The results show that regional economic policy significantly promotes the enterprise total factor productivity in the Yangtze River Economic Belt, mainly through three channels including innovating financing, R&D and talent environment. The results of heterogeneity analysis show that compared with the downstream enterprises of the Yangtze River Economic Belt, the midstream and upstream enterprises are relatively more affected by regional economic policies. Further, the role of innovating R&D environment in the midstream and upstream enterprises is stronger, and the role of innovating financing environment and talent environment in downstream enterprises is stronger. This study has a certain reference for further narrowing regional disparities and coordinating economic development.