Government subsidy and aggregate productivity dynamics: Evidence from China

Government subsidy and aggregate productivity dynamics: Evidence from China

Based on data for Chinese manufacturing firms from 1999 to 2007, this study explores the dynamic evolution of aggregate total factor productivity (TFP) from the perspective of firmsʼ entry and exit. It also quantifies how government subsidies influence the aggregate productivity growth. By decomposi...

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Veröffentlicht in:Pacific economic review (Oxford, England) England), 2021-05, Vol.26 (2), p.263-282
1. Verfasser: Yue, Wen
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Government subsidies
Productivity
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description Based on data for Chinese manufacturing firms from 1999 to 2007, this study explores the dynamic evolution of aggregate total factor productivity (TFP) from the perspective of firmsʼ entry and exit. It also quantifies how government subsidies influence the aggregate productivity growth. By decomposing aggregate productivity growth into components, including technological progress, reallocation, entry, and exit effects, we found that aggregate TFP growth in Chinese manufacturingfollows an upward trend during the sample period. This tendency originates from the contribution of technological progress, reallocation, and exit effects. Moreover, the effects of these four components on aggregate TFP growth of different industries, regions, and ownership types are different. Furthermore, technological progress, reallocation, and exit effects are important pathways for government subsidies to promote aggregate TFP growth in Chinese manufacturing.
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subjects Government subsidies
Productivity
title Government subsidy and aggregate productivity dynamics: Evidence from China
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