An Empirical Study On The Relationship Between Industrial Policy,Total Factor Productivity And Enterprise Wages

Gross domestic product(GDP)has been growing at a high rate since the 21 century,but China's wage share in the distribution of the national economy is declining.In the critical period of economic transformation,with the gradual optimization of industrial structure,people will pay more attention to the implementation of industrial policy.In the past,the research on industrial policy or wage level is very rich,but there are few academic researches on the influence of industrial policy on wage level.From the angle of total factor productivity,this paper studies the mechanism of the effect of industrial policy on the wage level of enterprises through the total factor productivity.And further examination.Observe whether this kind of influence can exist heterogeneity effect because of the different nature of enterprise equity.Examining the relationship between industrial policy,total factor productivity(TFP)and enterprise wage level,and studying the internal mechanism of macro-policy influencing micro-behavior are beneficial to enrich the theory of the relationship between macro-economic decision-making and micro-behavior.To find out the mechanism and effect of industrial policy affecting wage level,it has certain reference significance to promote the sustainable growth of enterprise wage level through the implementation of industrial policy.This paper is divided into five chapters.The introduction includes the background and significance of this paper,the literature review related to the research topic,as well as the research ideas,main contents,research methods and innovative points.The first chapter is mainly based on the theory of market failure,the theory of supplement and replacement of resources,the theory of wage determination,and the relationship among industrial policy,total factor productivity and enterprise wage level.Specifically,it studies how the total factor productivity plays a role in the process of industrial policy transmission,and based on the above analysis,puts forward the relevant assumptions.The second chapter is the research design,according to the theoretical analysis and hypothesis to determine the empirical model of this paper,and the introduction of indicators The source of the data is explained by the selection of the sample and the selection of the sample.In chapter 3,based on the data of listed manufacturing companies in Cathay,empirical analysis of related theories and research hypotheses is carried out.First,using data EnvelopmentAnalysis(DEA)to calculate total factor productivity.Secondly,the industrial policy is divided into government subsidy policy,loan interest rate policy,tax preferential policy,construction of industrial policy and total factor productivity test model,empirical test of the overall effect of industrial policy on total factor productivity.Third,examine the effect of total factor productivity on enterprise wage level.Fourth,construct the recursive equation model to test the three policy tools of industrial policy separately.Excessive factor productivity affects the intermediary effect of enterprise wage level.Fifth,adding three policy tools to the interaction of total factor productivity(TFP)to further analyze the possible interaction or adjustment effects.Sixth,join the variables of state-owned enterprises and non-state-owned enterprises to further study the industrial policies,total factor productivity due to the nature of ownership of different effects on the wage level of the different differences.The fourth chapter is the conclusion of this paper.Through the analysis and summary of the results of empirical test,this paper draws the relevant conclusions and enlightenment,further analyzes the shortcomings of this paper,and thinks about the future research direction.It is found that industrial policy has direct redistribution effect on enterprise wage level and indirect productivity effect on wage level through intermediary effect of total factor productivity.The total effect depends on two factors.A person acting together.First,the total factor productivity of industrial policy depends on whether the positive resource can be replenished and replaced and the market failure can be overcome.The loan interest rate policy has a positive effect on improving the total factor productivity because of its strong market attribute.And tax,government subsidy can not bring about the increase of total factor productivity of enterprise.Second,the increase in total factor productivity can lead to an increase in the level of wages.The improvement of production efficiency will help enterprises to earn more profits,thus pulling up the level of wages.Third,industrial policy will affect the wage level of enterprises through the intermediary effect of total factor productivity.Government subsidies for The effect of enterprise wage level is significantly positive,but because of the existence of productivity effect,its positive effect on wages is not so obvious.The loan rate policy will partly dampen wage growth,but because it can boost total factor productivity,the effect on wages is less pronounced.Fourth,the influence of industrial policy on enterprise wage level is different due to the nature of equity.State-owned enterprises actually play a stabilizing role in the process of industrial policies affecting the wages of employees in enterprises,which makes thewage level of workers in enterprises not subject to external policy factors.Fluctuate.From the angle of total factor productivity,this paper studies the influence of industrial policy on enterprise wage level.The conclusion of the study is of great significance for enhancing the scientific and reasonable nature of the policy,further deepening the reform of the wage system,and promoting the perfection of the production and wage distribution system of enterprises.