公共基础设施投资与全要素生产率:基于异质企业家模型的理论分析

被引：84

作者：

贾俊雪

机构：

[1] 中国人民大学财政金融学院、中国财政金融政策研究中心

来源：

经济研究 | 2017年 / 52卷 / 02期

基金：

中央高校基本科研业务费专项资金资助;

关键词：

公共基础设施投资; 全要素生产率; 要素配置; 金融摩擦; 异质性企业家模型;

D O I：

暂无

中图分类号：

F224 [经济数学方法]; F299.24 [基础设施与公用事业];

学科分类号：

0701 ; 070104 ; 083305 ;

摘要：

本文构建一个异质性企业家模型,以中国现实数据为基础,利用数值模拟深入考察公共基础设施投资对全要素生产率(TFP)的影响机理,同时考虑金融摩擦、劳动摩擦和其他财税政策对公共基础设施投资TFP效应的抑制作用。研究表明,公共基础设施投资对TFP具有明显的"倒U型"影响,即存在TFP最大化的公共基础设施投资规模。这源于公共基础设施投资影响企业家的财富积累,即自融资机制,对企业间要素配置的重要影响。信贷约束对公共基础设施投资的TFP效应影响显著(企业家面临的信贷约束越严重,公共基础设施投资对TFP的影响越大)。存贷利差的影响则较弱。减少劳动摩擦可增强公共基础设施投资的TFP效应,较大的有效基础设施服务、企业间差异性和公共消费性支出也具有类似影响,利用消费税融资可更好地发挥公共基础设施投资对TFP的促进作用。

引用

页码：4 / 19

页数：16

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