The Influence Of Industry Policy On Industry Productivity Relations

Now,the world economic is recovery, industrial policy has to play the role of "fireman" once again, but the result is unsatisfactory. "Industrial policy" has been a controversial topic. Currently there are so many literature on Japanese industrial policy research, but focused on its necessity aspect. In addition, each business cycle gives a new research direction of industrial policy, so that it move forward in the continuous cycle constantly. At present, the former two waves of development economics have receded, and the third wave is taking shape, therefore, rethinking the industry policy is particularly necessary in this stage.Based on the theory of asymmetric information and regulatory capture theory, the paper try to use Chinese manufacturing listed companies in 2008-2012 as the micro sample, multivariate hierarchical regression demonstrate the intensity of competition for influence on industrial policy mechanisms. Regression analysis showed that in the same industry level, industrial policy tend to highly competitive industry will be a significant increase in total factor productivity growth of the industry; within the same industry, industrial policy choices "non-discriminatory" manner and not total factor productivity significantly increased growth of the industry. Finally, the paper presents a number of recommendations for China's industrial policy according to the above issues and conclusions.Combining with the current economic situation, the paper analyzes the necessity of industrial policy and the specific implementation measures, and puts forward the relevant policy recommendations, which is a important guiding significance for our country to implement industrial policies, as well as providing the microscopic evidence of the effects of industrial policy in a market economy on economic growth.