摘要
本文通过构建了包含政府部门、地方政府平台、生产部门、银行四部门的理论模型来研究政府行为对区域全要素生产率的影响,并通过2006—2021年的地级市数据进行实证研究。首先,税收竞争的加剧吸引了更多企业入驻,从而对区域全要素生产率产生正向影响,但是政府平台对地方企业的融资挤兑增加了企业的融资成本,进而对区域产生全要素生产率的负向影响,稳健性和内生性检验,均支持本文基本结论。其次,机制检验表明,大城市和沿海城市通过税收竞争带来的产业集聚,有助于提高区域经济水平和全要素生产率,而小城市和内陆城市则通过吸引新企业促进区域建设,改善投资环境,从而有助于提高全要素生产率;同时,内陆城市和小城市因融资挤兑,对区域产生全要素生产率的负向影响。进一步分析还发现,地方公共债务受到税收竞争产生的收入替代效应而增长;税收竞争对全要素生产率存在空间负外部性。最后,本文从政府行为的角度出发,为支持地方经济的有序发展以及缓解企业融资困境提供了科学依据和政策建议。
This paper constructs a theoretical model comprising government departments,local government platforms,production sectors,and banks to investigate the impact of government behavior on regional total factor productivity(TFP).Empirical research is conducted using data from prefecture-level cities from 2006 to 2021.The study reveals a dual effect of local government behavior on regional TFP.Firstly,intensified tax competition attracts more enterprises,thereby positively affecting regional TFP.However,the financial crowding-out effect of government platforms on local enterprises increases financing costs,thereby negatively impacting regional TFP.Robustness and endogeneity tests support the basic conclusions of this study.Secondly,mechanism tests indicate that large cities and coastal cities,through industrial agglomeration resulting from tax competition,contribute to the improvement of regional economic level and TFP.In contrast,small cities and inland cities,by attracting new enterprises to promote regional development and improve investment environment,also contribute to increased TFP.However,inland cities and small cities suffer from negative impacts on regional TFP due to financial crowding-out.Further analysis reveals that local public debt grows due to the income substitution effect generated by tax competition,and tax competition has spatial negative externalities on TFP.Lastly,this paper provides scientific basis and policy recommendations from the perspective of government behavior to support orderly development of local economy and alleviate the financing dilemma of enterprises.
作者
魏守华
吴桐
Wei Shouhua;Wu Tong
出处
《财经科学》
CSSCI
北大核心
2024年第3期134-148,共15页
Finance & Economics
基金
国家社会科学基金重大项目“构建大中小城市协调发展格局研究”(23ZDA048)
国家自然科学基金项目“中国城镇体系协调发展研究:测度、成因与绩效评价”(71873062)
中国特色社会主义经济建设协同创新中心项目“长三角实践创新中国发展经济学:城市群空间结构演变与区域共同富裕”(CYD-2022010)的资助。
关键词
全要素生产率
地方政府平台债务
税收竞争
地方政府行为
Total Factor Productivity
Local Government Platform Debt
Tax Competition
Local Government Behavior
