资源错配与全要素生产率损失——基于中国工业企业的经验研究
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| Title | Capital misallocation and The Losses of Total Factor Productivity——Evidence from the China Industry Business Performance
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| 作者 | 张庆君 樊明太 苏明政 |
| Author | Zhang Qingjun,Fan Mingtai and Su Mingzheng |
| 作者单位 | 中国社会科学院；东北财经大学金融学院 |
| Organization | Institute of Quantitative & Technical Economics, Chinese Academy of Social Sciences;School of Finance Dongbei University of Finance and Economic |
| 作者Email | zqingjun@126.com; |
| 中文关键词 | 资源错配 全要素生产率 测度 |
| Key Words | Capital Misallocation；Total Factor Productivity；Measure |
| 内容提要 | 资源错配使生产要素的配置效率没有得到充分的发挥，从而产生了结构性钱荒和产能过剩等经济问题，因此，十八界三中全会提出发挥市场在资源配置中的决定性作用，提高资源配置效率。本文从实际产出与最优配置条件下产出比较的角度出发构建错配指数，并进一步将资源错配具体分解成产业内错配与产业间错配，此外，本文还构建规模楔子、资本楔子、劳动力楔子等辅助指标来反映我国工业企业资源错配的特征。利用中国工业企业数据库40个行业的130367个企业的数据进行了实证研究。研究结果表明，首先，我国工业企业的确存在比较明显的资源错配，如果达到最优的资源配置条件，我国工业企业的总产出将上升24.3%-58.8%；其次，我国工业企业资源错配与行业规模没有关联，而与企业的规模有正相关关系；再次，企业资源错配能够解释全要素生产率变动的近28%-55%。最后，分析了我国工业企业资源错配行为与金融资源错配之间的关系，认为金融资源错配行为直接影响了企业的资源错配。 |
| Abstract | Resources misallocation make the configuration efficiency of factors of production are not sufficient, the structural shortage of money and excess capacity, therefore, 18 world third plenary session put forward plays a decisive role in the allocation of resources, improve the efficiency of resource allocation This article from the actual output and the optimal configuration under the condition of output is the point of view of constructing misallocation index, and further resources mismatch specific decomposition into intra-industry misallocation and the misallocation between industry, in addition, this article also build the size of the wedge capital wedge labor wedge and other auxiliary index to reflect the characteristics of our country's enterprise resources misallocation Using 40 Chinese industrial enterprise database industry data from 130367 companies has carried on the empirical study results indicate that, first of all, our country enterprise exists obvious resources misallocation, if achieve the optimal allocation of resources conditions. |
| 文章编号 | WP683 |
| 登载时间 | 2014-09-04 |
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