流域横向生态补偿是中国采取市场化方式治理跨界水污染的重要探索,是中国在生态文明建设过程中的又一制度创新,但是关于横向补偿对企业全要素生产率的影响及其实现机制的探讨并不多。文章将2011年安徽省和浙江省签订的新安江流域跨省横向生态补偿协议视为一次自然实验,根据政策实施范围,将位于政策受偿区域(黄山市)的企业作为实验组,运用双重差分法,研究新安江流域跨省横向生态补偿对企业全要素生产率的影响。实证结果表明,在控制了地区和企业特征等控制变量以及时间、企业、行业和城市固定效应之后,该政策的实施通过税收减免、政府补贴、劳动生产率提升和资本深化等机制显著提高了企业全要素生产率,并且改善效果具有可持续性。企业年龄异质性结果显示,只有企业经营进入相对稳定时期,该政策才能够显著地改善企业全要素生产率。行业异质性考察结果显示,当企业处于劳动密集型和技术密集型行业时,该政策的实施有利于企业全要素生产率的提高;而当企业处于资本密集型行业时,该政策的实施则对企业全要素生产率产生了阻碍作用。文章不仅证实了新安江流域跨省横向生态补偿政策的样板意义,而且为今后的跨界流域横向生态补偿的实施提供了有益借鉴。
跨界流域横向生态补偿与企业全要素生产率
摘要
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引用本文
景守武, 张捷. 跨界流域横向生态补偿与企业全要素生产率[J]. 财经研究, 2021, 47(5): 139-152.
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