Research On The Impact Of Resource Allocation Distortion On Economic Efficiency

The region of Beijing,Tianjin and Hebei is an economic growth pole with great potential for development.The direction of its cooperative development has risen to the national strategy.However,the administrative divisions in these three regions are obvious.The sharing and complementarity of resource exchanges between administrative jurisdictions are relatively low,which makes the operation speed of the economy not efficient,and is not conducive to the common development of the three parties.Since China's reform,the economic growth has been mainly driven by a large amount of production resources,rather than efficiency.Nowadays,the contribution of simple resource investment to economic growth has declined,and more attention should be paid to the efficiency of economic growth and the allocation of resources.In the second chapter,the definition of resource allocation distortion and economic efficiency is defined.The causes of resource allocation distortion and the impact of resource allocation distortions on economic efficiency are discussed.The third part,based on the Hsieh and Klenow(2009)model,introduces the concept of absolute distortion,and concludes that the absolute allocation of capital and labor distortion is not conducive to the improvement of TFP,indicating that the distortion of capital and labor allocation reduces the economic efficiency.The fourth part makes a descriptive analysis of the capital and labor distribution and economic development in Beijing,Tianjin and Hebei region.The fifth part,based on the data from-2015 in 1990,calculates the distortion of resource allocation in Beijing Tianjin Hebei region,and examines its impact on economic efficiency.After analysis,it is found that: first,there are unreasonable allocation of capital and labor in Beijing,Tianjin and Hebei.The distortion of capital and labor allocation has a negative effect on total factor productivity growth,which distorts the economic efficiency.Second,the distortion degree of capital allocation in Beijing,Tianjin and Hebei is greater than that of labor allocation distortion.Third,the negative effect of the distortion of resource allocation on the rate of total factor productivity growth is seen in a comprehensive way.Hebei is greater than Tianjin,and Tianjin is greater than Beijing.At the end of this paper,we find that there is a certain space for improving the economic efficiency by improving the distortion of the allocation of resources in Beijing,Tianjin and Hebei.Based on the above analysis,in the last part of this paper,combined with the current situation of Beijing Tianjin Hebei,we give policy recommendations from three aspects: labor market,capital market,government and market relationship.