中国交通基础设施建设改善了企业资源配置效率吗?——基于高速公路建设与制造业企业要素投入的分析  

Has China's Transportation Infrastructure Improved the Efficiency of Enterprise Resource Allocation? Analysis Based on Expressway Construction and Factor Input of Manufacturing Enterprises

作　　者：张天华[1] 高翔[2] 步晓宁[3] 谢晓闻[4] 

机构地区：[1]华南师范大学经济与管理学院,广东广州100871 [2]广东外语外贸大学会计学院,广东广州510006 [3]山东财经大学金融学院,山东济南250014 [4]中山大学岭南学院,广东广州510006

出　　处：《财经研究》2017年第8期122-134,共13页Journal of Finance and Economics

基　　金：国家社科基金青年项目(15CJY002);中国博士后科学基金项目(2016M600656);广东省自然科学基金(2015A030310476);广东省高等教育"创新强校工程"项目(GWTP-BS-2015-05)

摘　　要：交通基础设施建设已被证实是改善发展中国家经济表现的重要因素,但其中的作用机制仍然众说纷纭。近年来,人们普遍认为资源在企业间的配置效率不同是国家间经济绩效差异的重要原因。为了验证交通基础设施是否确实影响了企业资源配置效率,进而提升了经济绩效,文章将中国制造业企业数据与高速公路建设数据进行匹配,并以此为基础对中国交通基础设施建设对企业资源配置效率的影响及其作用机制进行了实证分析。我们的研究发现:交通基础设施建设确实改善了企业的资源配置效率,距离高速公路更近的城市,企业的实际规模与最优规模差异更小。具体来看,交通基础设施降低了同时使得资本和劳动投入偏离的产出扭曲,使得企业的实际规模与最优规模更为接近。进一步的中介效应分析发现,高速公路影响企业资源配置效率的因素主要有价格加成和行业集中度等,而通过企业存货产生的作用并不显著。The transportation infrastructure is widely regarded as an important factor for the improvement of economic performance in developing countries,but its effect mechanism remains controversial.In recent years,people widely argue that the efficiency of resource allocation among enterprises mainly accounts for a large economic performance difference between different nations.To test whether the transport infrastructure actually affects enterprise resource allocation and thereby improves economic performance,this paper uses the data matching industrial enterprises and highway construction in China,and empirically analyzes the impact of Chinese transportation infrastructure on the efficiency of enterprise resource allocation and its effect mechanism.The results show that transportation infrastructure does improve the efficiency of enterprise resource allocation and enterprises which are located in cities with nearer distance from the expressway have a smaller difference between real size and optimal size.Specifically speaking,transportation infrastructure reduces output distortion resulting in both capital and labor input distortion,thereby making real sizes of enterprises closer to the optimal sizes.The analysis based on mediation effect further indicates the factors concerning the effect of expressway on the efficiency of enterprise resource allocation mainly include price markup,industry concentration,and so on,and expressway does not play a significant role in the efficiency of enterprise resource allocation through inventories.

关 键 词：交通基础设施 工业企业 资源错配 

分 类 号：F406[经济管理—产业经济] F542