财政补贴能提升中国体育用品制造业全要素生产率吗?

Can Financial Subsidies Improve Total Factor Productivity of China’s Sports Goods Manufacturing Industry?

运用中国体育用品制造业微观数据,分析财政补贴对体育用品制造企业全要素生产率的影响效应和作用机制。实证研究发现,财政补贴政策有效提升了体育用品制造企业的全要素生产率,获补贴企业比未获补贴企业的全要素生产率高9%左右。异质性分析表明,制度环境较好地区的企业、外资企业、高于企业年龄均值的企业,所获财政补贴产生的生产率提升效应更高。作用机制上,财政补贴主要通过专利产出来促进企业全要素生产率提升。

Through the micro data of China’s sports goods manufacturing industry,this paper analyzed the effect and mechanism of financial subsidies on total factor productivity of sports goods manufacturing enterprises.The empirical study showed that the fiscal subsidy policy effectively improved the total factor productivity of sports goods manufacturing enterprises,and the total factor productivity of subsidized enterprises was about 9%higher than that of non subsidized enterprises.Heterogeneity analysis showed that enterprises in areas with better institutional environment,foreign-funded enterprises,and enterprises above the average age of enterprises had higher productivity effects from financial subsidies.In terms of mechanism,financial subsidies mainly promoted the total factor productivity of enterprises through the production of patents.