摘要
作为现代化经济体系的“中枢节点”和“传输纽带”,数字基础设施对提升企业产能利用率具有重要意义。基于2009—2019年中国A股制造业上市企业数据,采用渐进双重差分法考察了基于“宽带中国”战略的数字基础设施建设对企业产能利用率的影响。研究发现,数字基础设施建设显著提升了企业产能利用率,该结论在考虑平行趋势等假设条件和其他一系列可能干扰估计结果的因素后依然成立;动态效应估计结果显示,数字基础设施建设的产能利用率提升效应随时间推移逐步增强;机制检验表明,数字基础设施建设主要通过抑制企业过度投资、提高企业管理效率和出口需求等渠道提升企业产能利用率;异质性分析发现,数字基础设施建设对产能利用率的提升效果在高资源错配程度企业和低集中度行业中更为突出。研究结论为“宽带中国”战略背景下有序推进去产能工作、促进经济高质量增长提供了政策启示。
As the“central node”and“transmission link”of the modern economic system,the digital infrastructure is of great significance in improving the capacity utilization of businesses.Based on data from China’s A-share listed manufacturing enterprises from 2009 to 2019,this paper adopts a staggered difference-in-differences method to investigate the impact of digital infrastructure construction brought about by the“Broadband China”strategy on enterprise capacity utilization.The study finds that digital infrastructure construction significantly improves enterprise capacity utilization,and this conclusion holds after considering assumptions such as parallel trends and other factors that could confound the estimated results.Dynamic effect estimation results show that the capacity utilization enhancement effect of digital infrastructure construction gradually increases over time.The mechanism test shows that digital infrastructure construction mainly improves enterprise capacity utilization through channels such as restraining enterprises from over-investment and improving enterprise management efficiency and export demand.Heterogeneity analysis finds that the improvement effect of digital infrastructure construction on capacity utilization is more prominent in enterprises with high resource mismatch and industries with low concentration.The research conclusions provide policy proposals for the orderly advancement of overcapacity work and promoting high-quality economic growth in the context of the“Broadband China”strategy.
作者
罗奇
陈梁
赵永亮
LUO Qi;CHEN Liang;ZHAO Yongliang(School of Economics,Jinan University,Guangzhou 510632,China;School of Economics,Huazhong University of Science and Technology,Wuhan 430074,China)
出处
《产业经济研究》
CSSCI
北大核心
2022年第5期1-14,共14页
Industrial Economics Research
基金
国家社会科学基金重大项目(20ZDA047)
国家自然科学基金地区项目(72063011)
国家自然科学基金地区项目(72263011)。
关键词
数字基础设施
宽带中国
产能利用率
产能过剩
制造业企业
双重差分
digital infrastructure
Broadband China
capacity utilization
excess capacity
manufacturing enterprises
difference-in-differences
