The Impact of Upgrading Household Consumption Structure on Total Factor Productivity of Enterprises
After building a moderately prosperous society in all respects,China has entered a new development stage of common prosperity,in which the upgrading of consumption structure is an inevitable trend.Based on the panel data of China's listed enterprises from 2014 to 2020,this paper analyzes the micro-mechanism of the impact of the upgrading consumption struc-ture on the total factor productivity(TFP)of enterprises.The research results show that the household upgrading consumption structure has a significant positive effect on promoting the improvement of TFP of enterprises.The upgrading of consumption structure has an impact on the innovation activities and innovation factors of enterprises through the supply side and the demand side respectively,and then affects the TFP of enterprises.Further research finds that the positive effect of upgrading consumption structure on the improvement of TFP of enterprises is"weakened marginal effect"under the service-oriented economic structure.The promotion effect of the upgrading consumption structure on the improvement of TFP of enterprises is heterogeneous in indus-try and firm levels.Thus,the supply and demand sides should coordinate and cooperate.On the one hand,measures should be taken to restore,stabilize and expand domestic demand,while on the other hand,enterprises should be supported to make innova-tive inputs,participate in innovative activities and nurture their innovative capacity.
Upgrade of Consumption StructureEnterprises InnovationTFP of EnterprisesStructure Transformation
万方数据
维普
