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Tytuł:
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The effect of different government subsidies on total-factor productivity: Evidence from private listed manufacturing enterprises in China.
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Autorzy:
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Wang D; School of Economics, Zhejiang Gongshang University, Hangzhou, China.
Sun Y; Faculty of Business Administration, School of Business Administration, Southwestern University of Finance and Economics, Chengdu, China.
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Źródło:
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PloS one [PLoS One] 2022 Jan 31; Vol. 17 (1), pp. e0263018. Date of Electronic Publication: 2022 Jan 31 (Print Publication: 2022).
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Typ publikacji:
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Journal Article
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Język:
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English
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Imprint Name(s):
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Original Publication: San Francisco, CA : Public Library of Science
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MeSH Terms:
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Financing, Government*/economics
Financing, Government*/legislation & jurisprudence
Industry*/economics
Industry*/legislation & jurisprudence
Policy*
Private Sector*
China ; Commerce/economics ; Commerce/legislation & jurisprudence ; Government
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References:
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PLoS One. 2020 Jul 10;15(7):e0235828. (PMID: 32649693)
PLoS One. 2020 Jul 31;15(7):e0236626. (PMID: 32735570)
PLoS One. 2020 Dec 3;15(12):e0239549. (PMID: 33270678)
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Entry Date(s):
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Date Created: 20220131 Date Completed: 20220221 Latest Revision: 20220221
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Update Code:
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20240104
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PubMed Central ID:
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PMC8803163
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DOI:
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10.1371/journal.pone.0263018
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PMID:
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35100316
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Private enterprises play an increasingly important role in China. They can improve the total-factor productivity (TFP) and help transform and upgrade industrial structures. This study uses data for private listed manufacturing companies from 2009 to 2017 to examine the effects of different types of subsidies on TFP. We also analyze the heterogeneity and specific mechanism of subsidy effects. We find that R&D subsidies and production subsidies positively affect private enterprises' TFP. Moreover, R&D subsidies and production subsidies lagged by one period can also significantly increase private enterprises' TFP. In terms of industry, R&D subsidies have more obvious effects on technology-intensive industries, while production subsidies have more significant effects on labor-intensive and capital-intensive industries. In terms of scale, R&D subsidies' effects on the TFP of medium-sized enterprises are the largest, while production subsidies have the greatest effect on small enterprises' TFP. Government subsidies increase private enterprises' TFP through two mechanisms: improving technological innovation capability and alleviating financing constraints. Our results suggest that governments should formulate different subsidy policies according to industry and enterprise scale.
Competing Interests: The authors have declared that no competing interests exist.
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