Can the Convergence of Manufacturing and Producer Services Alleviate Resource Mismatches?
;This paper constructs an analytical framework for alleviating resource misallocation through the convergence of the two industries and establishes an econometric model based on the resource misallocation index and the degree of the conver-gence of the two industries for empirical testing.The conclusions are as follows:(1)The convergence of the two industries can alleviate the misallocation of physical capital and human capital,which is still robust after a series of robustness tests;(2)The resource mismatch effect of two-industry convergence has significant resource allocation state heterogeneity and manufacturing industry heterogeneity;(3)The convergence of the two industries can indirectly alleviate resource misalloca-tion through three channels:factor flow effect,cost-saving effect,and innovation effect.
manufacturing industryproductive servicesindustrial convergenceresource mismatchhuman capital
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