新型政商关系、产业政策与投资“潮涌现象”治理  

New Government-Business Relationship, Industrial Policies and Governance of“Wave Phenomena” of Investment

作　　者：侯方宇 杨瑞龙[1] HOU Fang-yu;YANG Rui-long(School of Economics,Renmin University of China,Beijing 100872,China)

机构地区：[1]中国人民大学经济学院

出　　处：《中国工业经济》2018年第5期62-79,共18页China Industrial Economics

摘　　要：本文构建了一个基于企业资产专用性的委托代理模型,用于分析不同的政商关系对产业政策治理"潮涌现象"有效性的影响。研究发现,在扭曲的政商关系下,企业与地方政府会利用信息优势来规避产业政策,从而导致产业政策在治理"潮涌现象"中的低效甚至无效。模型结论表明,受扭曲的政商关系的影响,地方政府的产业政策是无效的;中央政府有效的产业政策不是简单的疏导性的,必须包含支付给企业与地方政府的信息租金;中央政府产业政策的有效性取决于产业前景与企业的资产专用性程度,不同产业的预期前景差异越大,企业的资产专用性程度越高,产业政策越趋于无效。本文利用委托代理模型分析政商关系对产业政策有效性的作用及影响机制,为"潮涌现象"的研究提供了坚实的微观基础,同时为探讨新型政商关系提供了一个分析框架。本文的研究结论对于通过构建新型政商关系以提升产业政策的有效性具有重要的理论启示。This paper constructs a principal-agent model based on firm’s asset specificity,and analyzes the impact of government-business relationship on the effectiveness of industrial policies in governance of“Wave Phenomena”.We found that firms and local governments use information advantage to evade industrial policies under the distorted government-business relationship,resulting in industrial policies’inefficiency in governance of“Wave Phenomena”.The model has three major results.Firstly,because of the distorted government-business relationship,industrial policies made by local governments are ineffective.Secondly,central government’s effective industrial policies are not simple and guiding policies.It must include the information rents paid to firms and local governments.Thirdly,the effectiveness of central government’s industrial policies depends on firm’s industrial prospect and asset specificity.The more diverse in firm’s expected prospect of different industries and the higher degree of firm’s asset specificity,the more ineffective the industrial policies are.Using a principal-agent model,we analyze the role and impact mechanism of government-business relationship on the effectiveness of industrial policies,provide a more solid micro-foundation for the study of“Wave Phenomena”and a framework for analyzing a new type of government-business relationship.The conclusions of this paper have important theoretical enlightenments for improving the effectiveness of industrial policies by constructing a new government-business relationship.In view of the above,we propose several policy recommendations on how to reconstruct a new type of cordial and clean relationship between government and business.

关 键 词：政商关系 潮涌现象 产业政策 资产专用性 

分 类 号：F420[经济管理—产业经济]