| At present,China’s economy is still dominated by manufacturing industry.Since the reform and opening up,China’s manufacturing industry has developed rapidly.However,at present,China’s manufacturing industry is still dominated by low-end industries,and there is still a big gap between its development level and production efficiency and that of developed countries.Moreover,due to the constraints of environment and resources and the impact of the rising cost of production factors,it is difficult to continue the extensive mode of relying on factor input to drive economic growth in the past.Considering how to comprehensively improve the production efficiency of manufacturing industry and realize the transformation of China from a manufacturing power to a manufacturing power has become an important topic of China’s economic development at the present stage.In recent years,from the view of resource allocation efficiency factors of optimization to improve the total factor productivity has gradually got the attention of scholars both at home and abroad,the Chinese government also attaches great importance to,and puts forward the elements of market-oriented reform tasks,but now far lags behind the elements of marketization reform in our country product market-oriented reform,the areas with different levels of the mismatching of the mismatching of labour and capital.It is of great significance to give full play to the role of the market itself in optimizing the allocation of resources and reduce the misallocation of factor resources in different regions for reshaping the driving force of China’s economic development,promoting the improvement of manufacturing output efficiency and further promoting the high-quality development of China’s economy in the new era.This paper discusses the theoretical mechanism of the impact of resource mismatch on total factor productivity of China’s manufacturing industry,and conducts an empirical study based on the data of Chinese industrial enterprises: The paper firstly reviews the literature on factor resource mismatch and total factor productivity at home and abroad,and summarizes the basic theories.Then,it further analyzes the influence mechanism of labor mismatch and capital mismatch on total factor productivity.On the basis of theoretical analysis,taking the data of industrial enterprises above designated size in each region of China from 2001 to 2014 as samples,this paper calculates the degree of labor misallocation,capital misallocation and total factor productivity in each region of China,and analyzes the regional differences.Then establish a model to make an empirical analysis of the impact of labor misallocation and capital misallocation on manufacturing productivity.The results show that :(1)there are different degrees of labor mismatch and capital mismatch in different regions of China.The labor mismatch is more serious in the eastern region,and the capital mismatch is more serious in the central and western regions.(2)Labor misallocation and capital misallocation have a significant negative effect on the total factor productivity of China’s manufacturing industry.The subregional regression analysis shows that the impact of labor misallocation on total factor productivity is more obvious in the eastern region,and the impact of capital misallocation on total factor productivity is more obvious in the central and western regions.On this basis,this paper puts forward some targeted policy recommendations,it can play through the market "invisible hand" of the adjustment,promote regional labour,free flow between enterprises,accelerate the process of financial liberalization reform,improve the efficiency of capital element configuration,strengthen regional coordination and other measures to reduce the Chinese factor resources mismatch degree,in order to improve the manufacturing total factor productivity in China,We will further promote the transformation of China’s economy from an extensive to an intensive one. |
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