省以下财政体制改革如何影响企业全要素生产率:来自“财政省直管县”改革的准自然实验  

How does reform of the fiscal system below the provincial level affect the total factor productivity of enterprises?A study based on the natural experiment of fiscal PMC reform

作　　者：宋恒 王树昊 李川川 SONG Heng;WANG Shuhao;LI Chuanchuan(China Academy of Fiscal Science,Bejing 100142,China;Institute of International Economy,University of International Business and Economics,Bejing 100029,China)

机构地区：[1]中国财政科学研究院,北京100142 [2]对外经济贸易大学国际经济研究院,北京100029

出　　处：《中国软科学》2024年第1期175-185,共11页China Soft Science

基　　金：国家社会科学基金一般项目(20BGL061);国家社会科学基金一般项目(21BGJ049)。

摘　　要：提高企业全要素生产率是高质量发展的动力源泉,省以下财政体制改革会对企业全要素生产率产生重要影响,值得深入探讨。基于中国工业企业微观数据,将“财政省直管县”改革视为省以下财政体制改革的准自然实验,从企业税收负担和资源配置维度考察省以下财政体制改革对企业全要素生产率的影响。实证研究结果表明,相较于没有实行“财政省直管县”改革的地区,经历“财政省直管县”改革的地区企业全要素生产率显著降低。究其原因,改革的实际税负渠道带来的负面影响大于资源配置渠道带来的正面影响,初始税收负担较重或资源错配程度较高的区域所受影响更为显著。基于上述结论给出了相应的政策启示。研究结果丰富了省以下财政体制改革对微观企业影响的研究,对进一步推进省以下财政体制改革和经济高质量发展具有现实意义。Improving the total factor productivity of enterprises is the driving force for high-quality development, and the reform of the fiscal system below the provincial level will have a significant impact on the total factor productivity of enterprises, which is worth further exploration. This article is based on micro data of Chinese industrial enterprises and regards the reform of “directly managing counties under the jurisdiction of the provincial government” as a quasi natural experiment of the reform of the fiscal system below the provincial level. It examines the impact of the reform of the fiscal system below the provincial level on the total factor productivity of enterprises from the dimensions of enterprise tax burden and resource allocation. The empirical research results indicate that compared to regions that have not implemented the“fiscal province directly governing counties” reform, the total factor productivity of enterprises in regions that have undergone the “fiscal province directly governing counties” reform has significantly decreased. The reason for this is that the negative impact brought by the actual tax burden channel of the reform is greater than the positive impact brought by the resource allocation channel, and the impact is more significant in areas with heavy initial tax burden or high degree of resource mismatch. The article provides corresponding policy implications based on the above conclusions. This article enriches the research on the impact of sub provincial financial system reform on micro enterprises, and has significance for further promoting sub provincial financial system reform and high-quality economic development.

关 键 词：“财政省直管县”改革 企业全要素生产率 税收负担 资源配置效率 

分 类 号：F812.0[经济管理—财政学]