畅流提效:高质量发展、全要素生产率与金融资源配置  

Boosting Efficiency:High-Quality Development,Total Factor Productivity and Financial Resource Allocation

作　　者：许志伟 俞锦祥 XU Zhiwei;YU Jinxiang(China Center for Economic Studies and School of Economics,Fudan University;Antai College of Economics and Management,Shanghai Jiao Tong University)

机构地区：[1]复旦大学中国社会主义市场经济研究中心、经济学院 [2]上海交通大学安泰经济与管理学院

出　　处：《金融市场研究》2025年第4期56-67,共12页Financial Market Research

基　　金：教育部哲学社会科学研究重大专项项目“不确定性、宏观政策与中国经济韧性研究”(2023JZDZ021);国家自然科学基金面上项目“数字经济动态一般均衡研究”(72473029)。

摘　　要：高质量发展不仅是提升国家经济竞争力的核心目标,也是实现可持续增长和改善民生的重要途径。本文从高质量发展的供给端出发,探讨全要素生产率(TFP)在推动中国经济高质量发展中的关键作用,重点分析其内生驱动因素和提升资源配置效率的关键作用,并从宏观金融视角,探讨金融市场摩擦对资源配置的影响,尤其是信息不对称和道德风险如何导致高效生产主体难以获得融资,进而影响经济的整体效率。本文通过分析金融市场摩擦背后的微观传导机制,为揭示全要素生产率驱动因素、提高资源配置效率、制定高质量发展动态路径提供理论参考。High-quality development is not only the core objective of enhancing national economic competitiveness,but also an important way to realize sustainable growth and improve people's livelihood.Starting from the supply side of high-quality development,this paper discusses the key role of total factor productivity(TFP)in promoting high-quality development of China's economy,focusing on its endogenous drivers and the key role of enhancing resource allocation efficiency.Further,from a macro-financial perspective,the paper explores the impact of financial market frictions on resource allocation,especially how information asymmetry and moral hazard lead to dificulties in obtaining financing for efficient production agents.This in turn affects the overall efficiency of the economy.By analyzing the micro-transmission mechanism behind financial market frictions,this paper provides theoretical references for revealing the drivers of total factor productivity,improving the efficiency of resource allocation,and forging a dynamic path to high-quality development.

关 键 词：高质量发展 全要素生产率 金融资源配置 

分 类 号：F832[经济管理—金融学]