Industrial Policy,technological Innovation And Firm's Total Factor Productivity

In the context of the new normal of economy,the report of the 19 th National Congress of the Communist Party of China pointed out that "we should improve the quality of supply,enhance the vitality of innovation,improve the total factor productivity of the whole society,and ensure that the quality and effect of economic growth are significantly improved." Total factor productivity(TFP)reflects the comprehensive output efficiency of economic growth.The higher TFP is,the more sustainable the economic growth is.In order to implement the new development concept driven by innovation,Gansu Province has established the lanbai science and technology innovation and reform pilot area,promoted the development of independent innovation and high-tech industry in the whole province,explored experience and made demonstration for accelerating the transformation of economic development mode.Therefore,this paper takes the lanbai science and technology innovation and reform experimental area as the research object,using the quasi natural experimental method,analyzes how to implement the industrial policy to improve the total factor productivity of enterprises,and how the industrial policy affects the total factor productivity of enterprises,which provides experience for the construction and development of the experimental area.First of all,this paper calculates the total factor productivity of the enterprises in the experimental zone of technological innovation and Reform in lanbai.Secondly,the double difference method is used to investigate the impact of industrial policies in the Experimental Zone on the total factor productivity of enterprises,and the intermediary effect model is used to test the internal mechanism relationship between industrial policies and total factor productivity of technological innovation in the experimental zone.The results show that the industrial policy in the pilot area is helpful to improve the total factor productivity of enterprises in general,and it can promote the total factor productivity of non-stateowned enterprises,but it can restrain the state-owned enterprises.Secondly,the group test is carried out.First,based on the perspective of the degree of support,it is found that industrial policies have a significant role in promoting TFP of key supporting enterprises,but not for general supporting enterprises.Secondly,from the perspective of supporting industry heterogeneity,it is found that industrial policies can promote the TFP of labor-intensive enterprises and capital intensive enterprises,but have no significant impact on technology intensive enterprises.In addition,through the intermediary effect model,it is found that the industrial policies in the lanbai pilot area promote the TFP of enterprises through the intermediary of technological innovation,and the industrial policies About 90.36% of the total factor productivity of enterprises is affected by technological innovation.Therefore,the implementation of industrial policies in the lanbai experimental zone can promote the improvement of total factor productivity of enterprises by promoting technological innovation.Finally,based on the conclusion of this paper,some policy suggestions are given on how to promote TFP in the experimental area.