政府行为下的土地财政与全要素生产率之间的关系分析

为了解政府行为下的土地财政行为模式对微观企业全要素生产率的差异化影响,本文统计了230个城市在2010~2019年的全要素生产率面板数据,利用工具变量法进行实证研究,发现无论是通过OLS法还是工具变量法,政府行为下的土地财政扩张均会对企业的全要素生产率产生抑制作用;且土地财政扩张在带来规模效应的同时会对技术进步和效率产生抑制;而政府行为下的土地财政扩张政策与企业全要素生产率之间的关系呈倒“U”型分布,即当人均出让收入的对数小于1.52时,土地财政会对全要素生产率具有促进作用,反之则会产生抑制作用。这表明过度依赖土地财政会导致地产行业的过度投资和房价上涨,造成资源配置的扭曲,进而抑制企业全要素生产率的发展。     

考虑价格因素的中国全要素生产率计算及其影响因素分析 ——基于Global Cost Malmquist和Tobit模型的实证研究

本文将价格因素引入模型中,基于Global Cost Malmquist指数模型估算全要素生产率,基于全要素生产率分解进一步分析我国的资源错配状况及其来源,并采用Tobit模型对全要素生产率尤其是价格效应的影响因素进行实证分析,研究结果表明:现阶段我国全要素生产率增长存在高估问题,技术进步对我国全要素生产率的正向促进作用日趋显著,由价格扭曲导致的资源错配是现阶段抑制我国全要素生产率进一步提高的主要因素,同时技术进步和价格扭曲加剧了地区全要素生产率差异;对外直接投资、出口贸易和金融发展提高了全要素生产率增长,改善了资源错配,而市场分割和工业占比则起到抑制作用;东部和西部地区的对外直接投资、中部地区的出口贸易以及西部地区的金融发展水平会显著改善地区价格扭曲程度。基于以上研究,提出加快资源配置市场化改革、培育开放的市场化动力、激发金融市场活力、优化产业结构等政策启示。     

数实产业技术融合与企业全要素生产率——基于中国企业专利信息的研究

数字经济与实体经济深度融合是中国经济高质量发展的内在要求与战略方向，本文利用中国企业专利信息，从微观视角测度企业的数实产业技术融合行为，并以中国上市公司为样本，研究其对企业全要素生产率的影响及作用机制。研究发现，企业的数实产业技术融合行为能够显著提升企业的全要素生产率，并且该结论在进行内生性控制和稳健性检验之后依然成立。机制分析表明，从创新变革视角看，数实产业技术融合有助于拓展企业知识宽度，提升技术创新质量，从而提升企业全要素生产率；从竞争能力强化视角看，数实产业技术融合能够强化企业对融合技术扩散的吸收能力，提升产品竞争力，从而提升企业全要素生产率。异质性分析表明，在内部特征方面，除数字产品服务业外，企业涉及的其他数字经济核心产业技术融合对全要素生产率均有显著的提升作用；偏向于实体产业技术创新的企业从数实产业技术融合中能获得更大的全要素生产率提升效益。在外部环境方面，知识产权保护水平能够增强数实产业技术融合对企业全要素生产率的提升作用，而不同的数字基础设施建设水平并未表现出明显差异。本文的研究结论为中国推进数实产业技术融合、推动企业高质量发展提供了事实支撑与政策启示。     

中国19个城市群高新技术企业全要素生产率增长的区域差异与时空演进北大核心

本文利用超越对数随机前沿生产函数、Dagum基尼系数、传统与空间Markov链等方法进行实证分析,揭示2015~2019年中国19个城市群高新技术企业全要素生产率增长的时空分异特征。研究发现:19个城市群高新技术企业全要素生产率增长率呈增长态势;整体、区域内以及区域间差异均呈明显扩大态势,区域间差异是造成区域差异的根本原因;其时空转移特征呈现出“非对称向上”、“俱乐部收敛”和“跨层次跃升”的态势;在不同领域环境下,其转移特征表现出显著空间依赖性。研究结论对于缩小企业全要素生产率增长的区域差异与促进区域协同创新发展具有重要理论和实践意义。     

直接影响和空间溢出效应：知识资本对中国工业全要素生产率的影响研究

在供给侧改革背景下,对全要素生产率的来源分解和影响研究具有现实意义。本文基于1998～ 2014年间我国31个省的面板数据,选取合适的空间计量模型实证了知识资本投入对我国工业 全要素生产率的直接影响以及空间溢出效应。研究结果显示：知识资本投入与全要素生产率之间有正相关的联系,其中东部地区知识资本对全要素生产率的直接影响和空间溢出效应都最为明显,中部次之,西部无明显的空间溢出效应;不同时期内知识资本与全要素生产率之间的关系也存在很大差异,1998～2006年间空间溢出效应微弱,2007～2014年间直接影响和溢出效应都有加强。     

基于Malmquist指数法的我国电子信息产业全要素生产率增长分析

本文运用Malmquist指数法测算了我国电子信息产业全要素生产率的变动趋势,并把全要素生产率的增长构成分解为技术进步和技术效率变化两个部分,结果显示：1996—2007年我国电子信息产业全要素生产率的平均增长率为I．5％,主要原因是技术进步水平的提高,但技术效率下降产生的负面影响也不可忽视,且在不同时期技术效率和技术进步对我国电子信息产业全要素生产率增长的贡献存在一定差异。     

中国工业行业市场扭曲程度的测定

本文将市场扭曲界定为由于市场的不完善所导致的资源配置对帕累托最优状态的偏离,并根据其在生产可能性曲线上的不同状态,把市场扭曲分为三类:技术扭曲、产品市场的价格扭曲、要素市场的价格扭曲。在此基础之上,本文选取1996—2007年的年度数据,建立一个包含全国36个工业部门的Panel Data模型来统一测度我国工业行业市场的扭曲程度,并将数据在时间上划分为三个阶段,进一步研究我国市场扭曲程度随时间变化的趋势。计量分析结果表明:我国工业行业的市场扭曲程度在不同的时间段内差异很大,但总体上呈现出下降的趋势;转轨阶段国有企业的体制变化和国家的产业政策是影响我国市场扭曲的重要因素;由于我国传统意义上的垄断行业形成的特殊性,垄断行业的市场扭曲程度在这三个阶段里并没有发生明显的变化。因此,应通过深化经济体制改革,特别是对垄断行业的企业体制和价格体制改革,以及完善现行的产业政策,建立充分竞争的市场机制,来降低我国工业行业市场扭曲的程度。     

碳排放约束下我国全要素生产率增长的测度与分解——基于SBM方向性距离函数和GML指数

本文运用SBM方向性距离函数和Global Malmquist-Luenberger(GML)指数将能源与二氧化碳纳入全要素生产率测度与分解框架中,测算了2001～2009年我国备省市的环境效率及环境全要素生产率变动状况,将环境全要素生产率变动分解为纯技术进步、纯技术效率变动、规模效率变动和技术规模变动等4个因素.研究结果表明:环境无效率普遍存在,且在省际间的分布差异较大;环境全要素生产率的增长和省际差异分别源于技术进步和规模效率,纯技术效率则出现不同程度地恶化.     

补贴差异化的资源误置效应——基于生产率分布视角

补贴所带来的扭曲不仅体现在补贴规模上,而且表现在行业内企业间的补贴差异程度上,后者甚至是造成中国制造业资源误置的重要原因之一。本文基于Hsieh and Klenow资源误置模型,讨论了补贴差异化影响生产率分布与资源误置的微观机制,利用1998—2007年中国制造业企业数据,度量了中国制造业行业内企业间的补贴差异性,通过构建面板模型检验了补贴差异化对中国制造业生产率分布的离散程度与资源误置的影响。研究结果表明:补贴差异化是导致中国制造业生产率分布的离散与资源误置的重要原因。在考虑重要解释变量缺失、回归方程设定、区域因素影响等问题后,所得结论仍然是稳健的。本文的政策内涵为政府应改革补贴模式,降低补贴依赖,改良产业政策,以优化中国制造业资源配置,实现产业升级。     

资源型产业集聚的动态溢出效应研究

本文基于2006～2013年中国31个省市自治区的面板数据,运用两阶段系统广义矩方法,实证分 析了资源型产业集聚的动态溢出效应。结果表明：（１）资源型产业集聚对资源型产业全要 素生产率的影响是动态的,当期资源型产业集聚显著促进了资源型产业全要素生产率的提高 ,但滞后一期的资源型产业集聚会抑制其全要素生产率的增长。资源型产业集聚的“集聚效 应”和“拥塞效应”会在不同时期达到不同均衡状态。（２）资源型产业集聚与人均GDP的 交叉相乘项阻碍了资源型产业全要素生产率的提升,表明资源型产业集聚对全要素生产率影 响的积极效应受到经济发展水平的影响,验证了资源型产业“威廉姆森假说”在中国的存在 性。（３）随着经济发展水平的提升,资源型产业集聚对于技术进步的积极作用逐步显现, 而对于技术效率改进的积极意义则逐步减弱。总体而言,资源型产业集聚对于技术效率变化 的影响主导了对于技术进步所产生的影响。（４）非资源型制造业集聚、物质资本投入促进 了资源型产业全要素生产率、技术进步及技术效率的提升,政府干预程度对三者的影响显著 为负,人力资本投入对资源型产业全要素生产率增长、技术效率改进的积极作用不明显,但 显著促进了资源型产业的技术进步。     

We Want Them All Covered! Collective Bargaining and Firm Heterogeneity: Theory and Evidence from Germany

This article establishes a link between the degree of productivity dispersion within an industry and collective bargaining coverage of the firms in the industry. In a stylized unionized oligopoly model, we show that differences in productivity levels can affect the design of collective wage contracts a sector‐union offers to heterogeneous firms. Using German linked employer–employee data, we test a range of our theoretical hypotheses and find empirical support for them. The dispersion of sector‐level labour productivity decreases the likelihood of firms being covered by a collective bargaining agreement on the industry level, but increases the likelihood of firms being covered by firm‐level agreements. The results hold for different subsamples and (panel) estimation techniques.     

Do Multi‐Plant Firms Reduce Misallocation? Evidence from Canadian Manufacturing

Using Canadian plant‐level data, this paper shows that, depending on the industry, the differences in the average plant‐level productivity and cross‐plant allocation of resources between multi‐plant and single‐plant firms account for 1 to 15 per cent of the industry‐level TFP. A large part of this contribution stems from more efficient cross‐plant allocation of resources, measured by the covariance between plant size and productivity, in the pool of plants in multi‐plant firms compared to the pool of plants in single‐plant firms. There is less dispersion in the marginal products of the inputs, and thus less misallocation, in industries in which multi‐plant firms account for a larger share of output. The patterns found in the cross‐plant distribution of productivity and size are also consistent with better allocative efficiency among plants in multi‐plant firms than among plants in single‐plant firms.     

Sectoral Productivity and the Distribution of Wages

Policy reports suggesting that productivity growth will raise the earnings of low-wage workers are based on the concept that gains from productivity will trickle down to raise the wages of workers at the lower end of the wage distribution. The compensation and employment systems of American industry do strongly link gains in industry productivity to wage increases for most workers. However, this analysis finds that the linkage of productivity change to wage change for the workers at the lower end of the distribution is virtually nonexistent. The empirical results of this study suggest that productivity increases have no effect on the wage change of workers at the lowest 10th percentile of the distribution and widen the dispersion in industry wages.     

Foreign ownership and productivity in Chinese newly listed firms: the moderating roles of founder’s human capital and social ties

This paper studies the effects of foreign ownership on firm-level productivity and examines the different moderating roles of the firm-founder’s human capital and social ties on the foreign ownership - productivity link. Leveraging a unique sample of 428 small and medium-sized firms listed on the Growth Enterprise Market in the Shenzhen Stock Exchange between 2009 and 2016, we find that the foreign ownership’s contribution to productivity is not linear and varies across different quantiles of the productivity distribution. Our findings also show that the founder’s education and foreign experience strengthen the foreign ownership - productivity link, while the founder’s political and managerial ties weaken it. Our results reveal the strategic importance of the founder and contribute to an improved understanding of why firms vary in their ability to enhance productivity in emerging economies.

     

Total factor productivity enablers in the ICT industry: A cross-country firm-level analysis

Advancements in productivity in the digital economy constitute an important engine for economic growth. What drives productivity dynamics in the information and communication technology (ICT) sector? This study examines the productivity dynamics of ICT firms across countries from the perspective of corporate balance sheets. We study the effects of intangible assets and leverage on productivity growth using firm-level panel data from five industrialized countries. We find that intangible assets positively affect the total factor productivity in the ICT sector. The positive effect of intangible assets on total factor productivity growth is larger for ICT manufacturing firms than for ICT service firms. We also find that leverage has a positive relationship with total factor productivity development in the ICT sector. In addition, our empirical results substantiated that productivity is catching up to the technological frontier. Furthermore, larger firms and/or younger firms generally show higher total factor productivity growth than their peers. Economies of scale are more prominent in the ICT service sector than in the ICT manufacturing sector. Our findings contribute to the understanding of cross-country productivity dynamics in the ICT sector at the firm level in the digital economy.     

Firm management of scientific information: an empirical update

The purpose of this paper is to extend and test a model proposed by McMillan and colleagues in 1995. That model posited that research-intensive firms that are more 'cooperative' or open in publishing their scientific findings will have higher research and development (R&D) productivity than more secretive firms. In addition, four possible predictors of this scientific information openness are proposed in lieu of two in the 1995 article. Our current effort includes an empirical examination of twenty pharmaceutical firms over thirteen years, and finds substantial support for many of the proposed relationships. In addition, interviews with field practitioners independently confirmed many of the findings. The managerial implications are also discussed.     

FDI spillovers in an emerging market: the role of foreign firms' country origin diversity and domestic firms' absorptive capacity

Prior literature on foreign direct investment (FDI) spillovers has mainly focused on how the presence of FDI affects the productivity of domestic firms. In this study, we advance the literature by examining the effect of the diversity of FDI country origins on the productivity of domestic firms. We propose that the diversity of FDI country origins can facilitate FDI spillovers by increasing the variety of technologies and management practices brought by foreign firms, to which domestic firms are exposed and that they can potentially utilize. Further, the extent to which domestic firms can utilize these technologies and practices depends upon their absorptive capacity. Using panel data on Chinese manufacturing firms during the period 1998–2003, our results support these propositions. We find that the diversity of FDI country origins in an industry has a positive relationship with the productivity of domestic firms in the industry. This positive relationship is stronger when domestic firms are larger, and when the technology gap between FDI and the domestic firms is intermediate. Copyright © 2010 John Wiley & Sons, Ltd.     

Ownership Advantages, Foreign Production and Productivity: Evidence from Austrian Manufacturing Firms

Multi-plant economies of scale generated by firm-specific assets form a constituent feature of multinational firms. This paper uses a panel of Austrian manufacturing firms to test for multi-plant economies of scale by examining the dependence of labor productivity in plants of the home country on the volume of foreign production. As there is an inherent causality problem in testing this proposition, the econometric estimates use a simultaneous equation framework. The estimation results indeed indicate that firms which operate plants abroad achieve productivity advantages in domestic plants. The same holds true for affiliates of foreign multinationals.     

Subnational institutional contingencies and executive pay dispersion

This paper investigates the impact of subnational institutional contingencies on executive pay dispersion structure and the relationship between pay dispersion and firm performance. Using executive compensation data on Chinese listed firms between 2000 and 2011, we find that executive pay dispersion is significantly lower in state-owned enterprises (SOEs), while is significantly higher in cross-listed firms and to a smaller degree in firms located in developed regions. There is also evidence that executive pay dispersion is smaller during the voluntary compensation disclosure period. After controlling for endogeneity of pay determination, we find that executive pay dispersion is positively associated with firm performance. In addition, the positive link between executive pay dispersion and firm performance is stronger in non-SOEs than in SOEs, and stronger in firms located in more developed regions than those not. Our findings are also robust to alternative measures of pay dispersion and firm performance.     

Asymmetric Price Effects of Competition

When price dispersion is prevalent, a relevant question is what happens to the whole distribution of equilibrium prices when the number of firms changes. Using data from the gasoline market in the Netherlands, we find, first, that markets with N competitors have price distributions that first‐order stochastically dominate the price distributions in markets with N+1 firms. Second, the effect of competition is stronger for the medium to upper percentiles of the price distribution. Finally, consumer gains from competition are larger for relatively well‐informed consumers. To account for these empirical patterns, we extend Varian's [1980] model by allowing for richer heterogeneity in consumer price information.