房地产限购、企业税负与企业全要素生产率

Real Estate Restrictions,Corporate Tax Burden and Total Factor Productivity of Firms

在“房住不炒”的政策导向下,限购措施已成为各地政府调控房地产市场的重要手段。然而,该项政策在稳定房市的同时,可能会降低地方“土地财政”收入。基于稳定和扩大财政收入的动机,地方政府可能会增加企业的税负压力,进而对企业生产造成负面影响。本文深入探讨了房地产限购政策如何通过企业税负变动影响企业的全要素生产率,并对其作用机制进行了细致剖析。研究结果显示,限购政策显著降低了企业的全要素生产率。机制分析表明,税负压力的增加是其中的关键机制。因此,如何在保障居民住房需求的同时,减轻企业税负压力,提高生产效率,成为政府亟待解决的现实问题。本文进一步分析了限购政策导致土地财政压力上升后,地方政府对企业进行的策略性税费执法现象。这不仅有助于深入理解当前经济现状,也为政府制定更为合理的政策措施提供了重要参考。

Under the policy orientation of“housing without speculation”,purchase restrictions have become an important means for local governments to regulate the real estate market.However,while stabilizing the housing market,the policy may reduce local“land finance”revenues.Based on the motivation of stabilizing and expanding fiscal revenues,local governments may increase the pressure on enterprises'tax burden,which in turn negatively affects their production.This paper discusses how the real estate purchase restriction policy affects the total factor productivity of enterprises through the change of enterprise tax burden,and analyzes its mechanism in detail.The results show that the purchase restriction policy significantly reduces the total factor productivity of enterprises.The analysis of the mechanism shows that the increase of tax pressure is the key mechanism.Therefore,how to reduce the pressure of corporate tax burden and improve productivity while safeguarding residents'housing demand has become a realistic problem that the government needs to solve.This paper further analyzes the phenomenon of how the local governments enforce strategic taxes enforcement on enterprises after the rising pressure on land finance due to the purchase restriction policy.This not only contributes to an in-depth understanding of the current economic phenomenon,but also provides an important reference for the government to formulate more reasonable policy measures.