| Since the reform and opening up,China's manufacturing industry has achieved rapid development by undertaking industrial transfers from developed countries.Now my country's economy has entered a “new normal”.The real economy is facing a difficult period of destocking and decapacity.In this context,manufacturing companies Facing a severe situation and facing the risk of restructuring and elimination,in order to seek continued development,manufacturing enterprises must change their business methods and successfully achieve transformation.Therefore,from the perspective of resource misallocation,this article mainly studies its impact on the transformation and upgrading of China's manufacturing industry,and through exploring the factors that affect resource misallocation,and then proposes relevant suggestions to try to solve the resource mismatch problem to help China's manufacturing industry Upgrade.Regarding the research content of this article,firstly,based on the theoretical literature research on resource mismatch and manufacturing transformation and upgrading,the relevant theories and conceptual terms are sorted out,and the influence mechanism of resource mismatch to the transformation and upgrading of China's manufacturing industry is analyzed,and Further elaboration from the perspective of technological progress bias.Second,collect and organize a large amount of data to measure the degree of resource misallocation and manufacturing transformation and upgrading indicators,including a review of measurement methods.In this paper,the CES production function is used to estimate the degree of resource mismatch,and the system GMM method is used to analyze the causes of resource mismatch.In order to make the measurement and evaluation of the transformation and upgrading of the manufacturing industry more reasonable,this article divides the manufacturing industry into three categories: low-end,mid-end and high-end on the basis of relevant scholars.The manufacturing industry is transformed and upgraded,and the results are displayed in graphs for analysis.Then,the degree of capital mismatch,the degree of labor mismatch and the degree of total mismatch are selected as explanatory variables,and the technological progress bias indicator is introduced as one of the core variables,and two indicators of rationalization and advancement of manufacturing structure are selected as the explanatory variables,and establish Model,and use generalized least squares method to estimate.Finally,it draws a conclusion based on the previous analysis,and puts forward policy recommendations on how to alleviate the misallocation of resources to promote the transformation and upgrading of the manufacturing industry.The research results show that most provinces in my country have serious resource mismatches,and the impact of capital mismatches is higher than labor mismatches.From the perspective of resource mismatches in various regions,there is a clear gap between the eastern,central and western regions.The regional resource mismatch is the lowest,and the western region is the highest.Through the analysis of the causes of resource misallocation,government intervention and financial market distortion are the main reasons for its resource misallocation.And from the perspective of technological progress,labor-oriented technological progress is conducive to improving my country's resource misallocation and promoting the transformation and upgrading of my country's manufacturing industry.Based on the results of empirical analysis,combined with the current difficulties faced by my country's manufacturing industry,the following policy recommendations are put forward,such as expanding the financial service market,optimizing government financial subsidies,adjusting the industrial structure,promoting balanced regional development,increasing innovation input,and enhancing the quality of labor.And to promote advanced industrial structure.All these will be conducive to the further development of manufacturing transformation and upgrading. |
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