Research On The Error Of Industrial Policy,the Behavior Distortion Of Private Enterprises And The Overcapacity Of Manufacturing Industry

Long term excess manufacturing capacity is always a serious problem China economic development,the mainstream economics circles for a long time will cause the problem of excess manufacturing capacity due to the intervention of the government and state-owned enterprises in the production of behavior,but to occupy the dominant position in the market of private enterprises lack of attention.We must be aware of the serious overcapacity in the Chinese cement industry,papermaking and other industries,private enterprises have absolute market share;even the iron and steel industry,steel production capacity of enterprises to private and state-owned steel enterprises meet as equals.Generally speaking,the private enterprises in China's manufacturing industry have taken the lead in the market,but their overall quality is still low,and they are greatly influenced by the national industrial policies.Based on the analysis of the error of China's current industrial policy,this paper analyzes the mechanism of the industrial policy's bias,and the mechanism of the distortion behavior of the private enterprises,and then analyzes the transmission mechanism between the distortion of the private enterprise's behavior and the overcapacity of the manufacturing industry.This paper first defines the nature of social responsibility of industrial policy,and based on that,defines the definition of industrial policy bias,and analyzes the relationship between industrial policy,private enterprise behavior and manufacturing overcapacity.This paper uses the data of the private listed companies in the manufacturing industry from 2005 to 2015 to study the impact of the social responsibility attribute of industrial policy on the behavior and performance of private enterprises.It is found that the selective industry policy enables the enterprises in the encouraged industry to get a large number of bank credit,but it does not enhance the performance of enterprises,and there is a "U" relationship between credit performance and performance.While realizing their own development,private enterprises have undertaken a large number of social responsibilities conducted by industrial policies,resulting in the distortion of the behavior of private enterprises.Under the condition of overcapacity in the manufacturing industry,the private enterprises who should quit the market should still choose to stay in the market under the support of industrial policies,which not only reduces the performance of enterprises,but also distorts the role of market mechanism.Industrial policy favors administrative regulation,and the government chooses the"winners" in the industry,which stimulates the blind scale investment of private enterprises,and is not conducive to the improvement of enterprise performance and capacity utilization.To standardize the formulation and implementation of industrial policy and to straighten out the corporate social responsibility can improve the performance of the private enterprises.This paper uses the data from 2005 to 2011 to analyze the relationship between private enterprise behavior and manufacturing overcapacity.The private enterprise is an important subject of the market economy,and its market entry behavior and investment behavior have an important influence on the market supply.Based on the analysis of private enterprises to enter the behavior,investment behavior and production behavior characteristics,study the influence mechanism of private enterprise behavior of excess manufacturing capacity,and empirical measurement of manufacturing overcapacity influence degree,private enterprises entry barriers and private behavior excess manufacturing capacity.The study found:group of private enterprises in the sheep industry into behavior will bring a lot of investment into the industry after the scale of production and R&D innovation preferences will lead to the homogenization of inert capacity,private enterprises to enter the administrative monopoly industry of the "glass door" barriers will lead to private enterprises get together low entry barriers for the manufacturing sector thus,increased manufacturing capacity level.Reducing the entry barriers of administrative monopoly industries,building a fair competition market environment,guiding the entry and investment behavior of private enterprises,and accelerating the structural reform and technological innovation of supply side,can effectively solve the overcapacity of manufacturing industry.