新时代对口支援与区域协调发展——基于上市公司异地投资的微观证据
The Paired Aiding Policy and Coordinated Regional Development in the New Era:Based on the Micro Evidence of Cross-regional Investment of Listed Companies
祝丽敏 1于文蕾1
作者信息
摘要
新时代背景下,对口支援作为中国特色国家治理机制在促进区域协调发展方面发挥着重要作用.基于2013-2020年中国A股上市公司数据,本文研究发现:对口支援显著促进支援地企业向结对城市投资,有助于突破资本流动的"卢卡斯之谜";该效应在国有企业、受援地市场化程度较低和结对城市产业结构差异性较大时更显著;对口支援政策通过传递制度压力、降低企业在受援地的投资成本、提升企业对受援地的信息和资源获取发挥作用.进一步研究表明,对口支援下企业异地投资能够提升受援地和支援企业发展质量.本文的研究结论为对口支援在区域协调发展方面的作用提供证据,也为深化新时代对口支援政策以促进区域协调发展提供理论支撑和启示.
Abstract
As a national governing mechanism with Chinese characteristics,the paired aiding policy has played an important role in promoting coordinated regional development and realizing common prosperity in the New Era.Based on the sample of China's A-share listed companies from 2013 to 2020,this article finds that the paired aiding policy significantly promotes the firms to invest in the targeted paired recipient cities.This breaks through the"Lucas mystery"on firms'cross-regional investment.The impact is more significant for state-owned enterprises,when the paired recipient regions with lower marketization degree,and when the industrial structure between the paired-cit-ies is more different.It reveals that the paired aiding policy affects firms'cross-regional investment through exerting institutional pressure,reducing firms'cross-regional investment cost in the recipi-ent regions,and improving their access to information and resources in the recipient areas.Further-more,this research finds that the paired aiding policy improves the total factor productivity of both the recipient regions and the supporting firms which conduct such cross-regional investment.
关键词
对口支援/企业异地投资/区域协调发展/市场化程度/产业结构差异性Key words
The paired aiding policy/Cross-regional investment/Regional coordinated develop-ment/Marketization degree/Industrial structure difference引用本文复制引用
基金项目
中央民族大学青年能力提升计划(2022QNPY37)
出版年
2024
NETL
NSTL
万方数据