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。

Total Factor Productivity Under Considering of Price and Its Influencing Factors Based on Global Cost Malmquist and Tobit Model

This paper introduces the input price into the total factor productivity calculation,calculates and decomposes total factor productivity based on Global Cost Malmquist index model.Based on efficiency decomposition,this paper further analyzes the resource misallocation and its sources in China and makes an empirical analysis on the influencing factors of total factor productivity with the Tobit model,especially the price effect.The research shows that the growth of total factor productivity is overestimated under considering of the input price,technological progress still promotes efficiency improvement,and the resource misallocation caused by price distortion inhibits total factor production in China at the present stage.Foreign direct investment,export and financial development increase the growth of total factor productivity and improve the level of resources misallocation,while market segmentation and industrial share playe a restraining role.In terms of regions,foreign direct investment in the east and west regions,export in the middle region and financial development in west region significantly relieve the regional price distortion.On this basis,the paper puts forward some policy enlightenments,such as accelerating the market-oriented reform of resource allocation,cultivating the market-oriented driving force of opening-up,stimulating the vitality of financial market and optimizing the industrial structure.