僵尸企业如何扭曲了经济运行——基于企业规模分布视角  

How do zombie enterprises distort economic operation:from the perspective of enterprise-scale distribution

作　　者：张天华[1] 汪昱彤 ZHANG Tianhua;WANG Yutong(School of Economics and Management,South China Normal University,Guangzhou 510006,China)

机构地区：[1]华南师范大学经济与管理学院,广东广州510006

出　　处：《产业经济研究》2020年第5期128-142,共15页Industrial Economics Research

基　　金：国家自然科学基金面上项目(71473089);国家自然科学基金青年项目(71903059);广东省自然科学基金项目(2017A030313445)。

摘　　要：化解产能过剩,提高经济运行效率,是经济新常态下推动经济发展的重要举措。僵尸企业的滋生对经济运行的拖累已经受到广泛关注,但僵尸企业如何扭曲企业规模分布,仍未见相关探讨。从企业规模分布的视角探讨僵尸企业对经济运行的影响及作用机制,研究发现,僵尸企业的滋生不仅使企业规模分布偏移了标准齐夫分布,而且扭曲了平滑的企业规模分布形态。机制分析发现,僵尸企业主要通过扭曲静态资源配置和拖累动态演化效率,阻碍经济发展。在静态方面,僵尸企业带来的"缓解资本投入不足"和"加剧劳动投入过度"双重效应,最终导致企业规模分布出现扭曲。在动态方面,僵尸企业的滋生阻碍了大企业的进入,并加速了中小企业的退出,导致企业规模分布出现偏移性扭曲。与此同时,僵尸企业通过加剧企业成长速度的分化进程,使企业规模分布出现波动性扭曲。研究结论提供了一个僵尸企业滋生造成企业规模分布双重扭曲的新视角,对于缓解僵尸企业造成的经济冲击、优化企业资源配置、提升市场整体运行效率,具有重要的政策参考意义。It is essential to promote economic development under the"new normal"of China’s economy to resolve overcapacity and improve the efficiency of economic operation.Zombie enterprises,which impede and delay China’s economy,have been of major concern.However,the way that zombie enterprises distort the distribution of enterprise scale has not been discussed.This paper discusses the influence and mechanism of zombie enterprises on economic operation from the perspective of enterprise-scale distribution.It is found that the growth of zombie enterprises not only causes the enterprise-scale distribution to deviate from the standard of Zipf distribution,but also causes volatility distortion.Further,mechanism analysis shows that zombie enterprises delay economic development mainly by distorting static resource allocation and dragging down dynamic evolution efficiency.Regarding the static aspect,the dual effects of"alleviating insufficient capital investment"and"intensifying excessive labor investment"brought by zombie enterprises cause the deviation distortion of enterprise-scale distribution.Regarding the dynamic aspect,the growth of zombie enterprises hinders the entry of large enterprises,accelerates the exit of small and medium-sized enterprises,and causes the deviation distortion of enterprise-scale distribution.At the same time,zombie enterprises distort the scale distribution of enterprises by intensifying the differentiation process of the growth rate of enterprises.This paper provides a new perspective that zombie enterprises cause two distortions of enterprise-scale distribution.It has important policy significance to alleviate the economic impact of zombie enterprises,optimize the allocation of enterprise resources,and improve the overall operation efficiency of the market.

关 键 词：僵尸企业 企业规模分布 帕累托指数 波动性扭曲 资源配置 

分 类 号：F425[经济管理—产业经济] F279.2