Analysis Of The Effect Of China's Tax Reduction Policy On Total Factor Productivity

In the past 40 years of reform and opening up,China's economy has been improved rapidly,and also the high economic growth has attracted worldwide attention.At the same time,the research on the sustainability of China's economic growth mode has also received much attention.The improvement of total factor productivity is considered to be the long-term stable growth of the economy.The most important factor.Taxation of economic entities is in fact a distortion of the economy.Tax cuts can reduce this distortion,and taxation policies are also the most flexible and effective tools for the state to regulate the macro economy.At this stage,in order to achieve high-quality economic development,China is still vigorously promoting a structural tax reduction policy throughout the country.Whether the implementation of China's tax reduction policy can achieve the improvement of total factor productivity and promote the high-quality growth of the economy is the focus of this paper.From the perspective of the improvement of total factor productivity,this paper analyzes the impact of China's tax reduction policy on economic development,especially the transmission path of tax reduction policy to China's TFP promotion;through the establishment of the measurement model,the national macro tax burden It examines the relationship between the growth of TFP,the macro tax burden in various regions of China and the growth of regional TFP,and the macro tax burden of various industries and the growth of TFP,and analyzes the dependence mechanism to deduct the tax reduction policy of China.The path of TFP promotion provides certain theoretical support and policy implications for the structural tax reduction policy being implemented in China.The first is the theoretical basis of research.It is mainly divided into two aspects,some of which are related to tax reduction,including the tax reduction policy of China and the theoretical basis of tax reduction.The Laffer curve is the earliest explanation of the relationship between tax reduction and economic growth,and further analyzes the theoretical school of tax reduction on the path of economic growth,the supply theory of supply school,the demand management theory of Cairns school and the theory of multiplier,enterprise The investment behavior is the core of corporate TFP growth.It draws on investment theory,tax reduction and incentives for corporate behavior,and draws on the theory of optimal taxation and the “relative price” theory of taxation.The other part is the combing of knowledge related to the improvement of total factor productivity,including the concept of total factor productivity,and the theory of innovative economic development and endogenous economic growth that support total factor productivity,providing a theoretical basis for analyzing TFP growth.Second is the theoretical analysis of this paper.There are three main ways to increase TFP: advances in technology,improvement in technical efficiency,and structural transformation of middle and macroeconomics.Structural transformation is further manifested in the improvement of technical efficiency.From the national,regional and industrial levels,the paper analyzes the impact of tax reduction policies on TFP promotion in these three aspects,and the specific aspects of tax reduction policies at all levels.Then there is the empirical study of the article.On the basis of theoretical research,the data of the whole country,regions and industries are selected as the analysis objects,and the theoretical analysis is empirically tested,and the conduction path of the tax reduction policy affecting the promotion of TFP at three levels is analyzed.Studies suggest that:(1)The tax reduction policy can promote the promotion of TFP at the macro level,mainly in the stable expectation of the economic entity for the future,and the stable macroeconomic environment provided by the tax reduction policy,the promotion of technological progress and production efficiency of social development,and the promotion of TFP.growth of.(2)The tax reduction policy enables enterprises to increase investment in innovation and promote the advancement of enterprise technology;at the same time,it reduces the cost of factor flow in society,improves the efficiency of factor allocation,improves the technical efficiency of enterprises,promotes the level of TFP,and promotes local TFP.Improvement.(3)The tax reduction policy can guide the optimization and upgrading of the industrial structure and promote economic transformation;better integrate new technologies with traditional industries,improve the technological progress of traditional industries,and promote the development of more new industries and improve the industrial sector.TFP level;at the same time,China's institutional characteristics are also an important factor affecting the promotion of TFP.Tax reduction policy makes local tax reduction is not conducive to the improvement of industrial TFP.Through the above theoretical analysis and empirical test,combined with the structural tax reduction policy implemented in China at this stage,it will form a targeted policy enlightenment for China's future policy implementation.In promoting technological progress,we will play a role in the link between the new technology and its application departments,promote the promotion of new technologies in the society,and also promote tax incentives to encourage social innovation activities and provide good technological progress.Social and economic environment;in promoting technological efficiency,tax reduction promotes the optimal allocation of social resources,improves resource use efficiency,improves human capital quality,optimizes human capital management,and promotes the efficiency of human capital;promotes in the middle and macro In the transformation and upgrading of industrial structure,it is necessary to promote the advanced process of the existing industrial structure,promote the development of new industries,promote the growth of TFP,and improve the quality of economic development.