产业用地弹性出让如何助推企业进入?

How do Flexible Transfers of Industrial Land Boost Firm Entry? An Empirical Analysis Based on the Transaction Cost Theory

周剑涛,魏浩宇,李廷烨,王博

2026 第 52 卷 第 09 期 页码 79-93

DOI: 10.16538/j.cnki.jfe.20260611.301

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摘要

党的二十大报告强调,要把发展实体经济作为战略重点,而土地要素市场化改革是深化供给侧结构性改革的核心环节,能够为实体经济发展提供要素支撑。文章聚焦产业用地弹性出让这一关键的土地要素市场化改革,从企业微观层面切入,基于交易成本理论解析弹性出让政策通过直接出让与间接出让两类实践模式对企业进入行为所产生的影响以及影响机制,并以2008—2022年全国277个地级市面板数据为样本,构建多时点双重差分模型进行实证检验。研究发现,弹性出让政策平均使每百人工商企业注册数量增加0.129家。机制分析表明,弹性合约的灵活设计缓解了企业前期资金约束与长期再谈判成本,从而能够降低企业资产专用性风险和不确定性风险,进而增强企业进入意愿。异质性分析表明,政策效果对小企业、服务业以及高经济水平城市更为显著,而对大型企业和第二产业的作用相对有限。根据研究结论文章建议推行差异化供地策略并完善配套制度,以提升政策精准性与区域协同性。文章的研究拓展了土地要素市场化改革微观作用的研究维度,对于企业优化用地策略和政府完善改革方案都具有重要意义。

Under China’s current land institutional framework, local governments predominantly allo-cate industrial land through long-term transfers at maximum statutory terms, imposing high upfront costs on firms and limiting entry flexibility. To address these constraints, China has progressively explored flexible industrial land transfer models. However, existing studies largely focus on policy design and macro-level outcomes, lacking micro-level empirical evidence on how flexible transfers affect firm entry and its underlying mechanisms.

Using panel data from 277 prefecture-level cities from 2008 to 2022 and a staggered DID model, this paper examines the impact of flexible industrial land transfer reform on firm entry from a micro-level perspec-tive. The results show that the reform significantly promotes firm entry, increasing newly registered firms by 0.129 per 100 people on average. Mechanism testing shows that flexible contracts reduce upfront land acquisition costs, investment intensity, and asset specificity risks, and this effect is stronger in cities with higher economic uncertainty, confirming the uncertainty-mitigation channel. Heterogeneity analysis further reveals that the effect of the reform is concentrated among small firms, service industries, and high-income cities, whereas the impact on large firms and secondary industries is relatively limited. The reform also significantly promotes the entry of formal corporate entities while suppressing that of rural professional cooperatives, reflec-ting a “land institution substitution” effect.

This paper makes the following marginal contributions: First, moving beyond the intuitive logic in exis-ting literature that flexible transfers merely lower land costs, it constructs a dual-dimensional micro-analytical framework of “asset specificity—uncertainty” and explains from the perspective of contract structure how the flexible land transfer reform affects firm entry, as well as its underlying mechanisms. Second, it incorporates the contract structure of land, a foundational element in the real economy, into the analytical framework of entrepreneurial decision-making, offering direct implications for designing inclusive and adaptable “entrepreneurship-friendly” land policies in various regions. Third, it provides robust causal evidence on the effect of the reform, overcoming the limitations of prior case-based studies and offering more direct and precise empirical support for the effectiveness of flexible transfer policies.

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数据公开

标题文件大小下载
2008-2022年277个城市产业用地弹性出让政策、数量、面积 246.9 KB
2008-2022年277个城市工矿仓储土地交易明细、单位低价、亩均投资强度 99.5 MB
2008-2022年277个城市经济不确定性 144.4 KB
2008-2022年277个城市控制变量 413.8 KB
2008-2022年277个城市企业进入情况 476.4 KB
附录 191.7 KB
数据及程序代码 187.1 MB