摘要
流域横向生态补偿是中国采取市场化方式治理跨界水污染的重要探索,是中国在生态文明建设过程中的又一制度创新,但是关于横向补偿对企业全要素生产率的影响及其实现机制的探讨并不多。文章将2011年安徽省和浙江省签订的新安江流域跨省横向生态补偿协议视为一次自然实验,根据政策实施范围,将位于政策受偿区域(黄山市)的企业作为实验组,运用双重差分法,研究新安江流域跨省横向生态补偿对企业全要素生产率的影响。实证结果表明,在控制了地区和企业特征等控制变量以及时间、企业、行业和城市固定效应之后,该政策的实施通过税收减免、政府补贴、劳动生产率提升和资本深化等机制显著提高了企业全要素生产率,并且改善效果具有可持续性。企业年龄异质性结果显示,只有企业经营进入相对稳定时期,该政策才能够显著地改善企业全要素生产率。行业异质性考察结果显示,当企业处于劳动密集型和技术密集型行业时,该政策的实施有利于企业全要素生产率的提高;而当企业处于资本密集型行业时,该政策的实施则对企业全要素生产率产生了阻碍作用。文章不仅证实了新安江流域跨省横向生态补偿政策的样板意义,而且为今后的跨界流域横向生态补偿的实施提供了有益借鉴。
China takes the horizontal ecological compensation policy as an important measure for sharing the results of green development in economically backward areas.On the basis of environmental protection,China realizes economic development and benefits the people’s livelihood,so as to accomplish"lucid waters and lush mountains are invaluable assets".Trans-provincial basin horizontal ecological compensation is a significant exploration of China to take a market-oriented way to control cross-border water pollution,and is another institutional innovation in the process of ecological civilization construction.However,there are few studies on the impact of horizontal compensation on the total factor productivity of enterprises.In this paper,the trans-provincial horizontal ecological compensation of Xin’anjiang River Basin signed by Anhui Province and Zhejiang Province in 2011 is regarded as a natural experiment.It takes the database of Chinese industrial enterprises from 2008 to 2013 as the research sample,and uses the System GMM method to calculate total factor productivity.According to the scope of policy implementation,the enterprises located in the policy compensation area(Huangshan City)are selected as the experimental group,and the DID method is used to study the impact of trans-provincial horizontal ecological compensation on the total factor productivity of enterprises in Xin’anjiang River Basin.It is found that,the implementation of the policy significantly improves the total factor productivity of enterprises through tax relief,government subsidies,labor productivity improvement and capital deepening,and the effect is sustainable.The results of age heterogeneity show that only when enterprises enter a relatively stable period,can the policy significantly improve the total factor productivity of enterprises.The results of industry heterogeneity show that when enterprises are in labor-intensive and technology-intensive industries,the implementation of the policy is conducive to the improvement of total factor productivity,but it hinders the total factor productivity of enterprises in capital-intensive industries.This paper puts forward suggestions from three aspects:(1)Continue to promote the implementation of trans-provincial basin horizontal ecological compensation policy steadily.(2)Strengthen the supervision of ecological environment compensation funds flowing into enterprises.(3)According to the age and industry of enterprises,the policy of differentiated support and supervision should be implemented to avoid the"one-sizefits-all".The marginal contributions of this paper are as follows:(1)In terms of research content,there are few studies on the effect of horizontal ecological compensation on total factor productivity at home and abroad.This paper analyzes the implementation mechanism of ecological compensation,and further studies the implementation of basin horizontal ecological compensation through four kinds of mechanisms for the total factor productivity of enterprises.(2)In terms of data method,this paper uses the relatively new Chinese industrial enterprise database for empirical analysis,while the DID method can effectively reduce the endogenous problem and improve the reliability and robustness of empirical regression results.
作者
景守武
张捷
Jing Shouwu;Zhang Jie(Faculty of International Trade,Shanxi University of Finance and Economics,Taiyuan 030006,China;School of Economics and Management,Guangzhou Huashang College,Guangzhou 511300,China)
出处
《财经研究》
CSSCI
北大核心
2021年第5期139-152,共14页
Journal of Finance and Economics
基金
国家社会科学基金重大项目(15ZDA054)
国家自然科学基金青年项目(71903116)
关键词
流域横向生态补偿
企业全要素生产率
双重差分法
新安江流域
basin horizontal ecological compensation
total factor productivity
DID method
Xin’anjiang River Basin
