| The cultural industry is an important part of my country’s national economy.In today’s increasingly fierce competition for comprehensive national power,the high-quality development of the cultural industry is crucial to the development of my country’s economy.However,in 2019,my country’ s cultural industry and related industries accounted for only 4.5%of the gross national product.There is a large gap between China and developed countries.Why has the development of cultural industries still failed to meet expectations?Why is the growth rate of the total factor productivity of the cultural industry slow?What adjustments need to be made to the cultural industry in the context of supply-side structural reforms?Based on these issues,this article has carried out relevant research on the total factor productivity of the cultural industry from the perspective of the distortion of the factor market.Based on the theory of resource mismatch and the evolution of total factor productivity,this paper expands the influence of factor mismatch on the total factor productivity of cultural industries on the basis of collating relevant domestic and foreign documents such as factor market distortions,cultural industries,and total factor productivity.Analyze the misallocation of marginal resources and the misallocation of intensive marginal resources,and conduct empirical research by distinguishing the distortion of capital factor allocation and the distortion of labor factor allocation:First,test the impact of two factor allocation distortions on the total factor productivity of the cultural industry The second is to distinguish between entry effects,exit effects,between-group effects and within-group effects,and test the key mechanisms by which two configuration distortions affect the total factor productivity of the cultural industry.Based on the measurement of the distortion of capital and labor factor prices faced by cultural enterprises,the weighted average calculated the degree of factor market distortion faced by the cultural industry at the city level.The descriptive analysis found that:(1)The capital market distortion faced by the cultural industry continues over time Decrease,and is closely related to the level of regional economic development;(2)The labor market distortion faced by the cultural industry is also related to the level of regional economic development but is more volatile.In empirical research,the main effect test results show that both capital market distortions and labor market distortions have a significant negative effect on the total factor productivity of the cultural industry.However,the mechanism path of the two influences is different:(1)Distortion of capital market and labor market will cause cultural enterprises with lower productivity to "weak and not retreat",and weaken all elements of cultural industry in terms of exit effect.Productivity;(2)Capital market distortions and labor market distortions will cause the cultural industry market share to be reset to "low" efficient enterprises,thereby weakening the total factor productivity of the cultural industry;(3)In addition,capital market distortions will be to a certain extent The above will raise the productivity threshold for cultural industry entry,which will help increase the total factor productivity of the cultural industry in terms of entry channels;(4)Capital market distortions are not conducive to cultural enterprise innovation and productivity enhancement.Finally,based on the empirical analysis results of the influence of factor market distortions on the total factor productivity of the cultural industry,this article puts forward relevant policy recommendations from the four directions of government,capital market,labor market,and cultural industry. |
