The Impact Of Correlated Industry Agglomeration On Resource Allocation Efficiency

For many years,China's economic growth has been based on the massive consumption of natural resources and the employment of cheap labor force.Relying on the extensive development model of high investment,high consumption and high export,China's economic growth rate is far ahead of the world,creating the "China miracle".However,in recent years,with the increasingly obvious problems such as tighter resource constraints,worsening environmental problems and gradually rising labor costs,China has entered the “new normal” of weakening comparative advantage and slowing economic growth.Improving the efficiency of resource allocation is one of the main sources of economic efficiency growth.Actively and helpfully exploring possible ways to improve the efficiency of resource allocation is of important policy guiding significance to the exploration of China's economic development model in the context of the “new normal”.On the other hand,the agglomeration development of correlated industries is a distinctive feature of China's economic growth and the main source of China's industrial competitive advantage.Then,can the agglomeration of correlated industries promote the improvement of resource allocation efficiency?Firstly,this paper constructs a theoretical model of different counties with different degrees of correlated industrial agglomeration,and through the combination of mathematical derivation and theoretical analysis,deeply discusses the mechanism of correlated industrial agglomeration affecting the efficiency of resource allocation.After that,this paper calculates a new index of correlated industrial agglomeration,and on this basis,mainly using the database of Chinese industrial enterprises from 2000 to 2007,empirically tests the effect of correlated industrial agglomeration on resource allocation efficiency,and discusses the results of heterogeneity regression.Finally,based on the ADS method,this paper decomposes the effect of correlated industrial agglomeration on resource allocation efficiency to indirectly test the theoretical mechanism.The study found that correlated industrial agglomeration has a significant promoting effect on the efficiency of resource allocation,and for every 10 percentage points increase in the index of correlated industrial agglomeration,the efficiency of resource allocation increases by about 1.5 percentage points.Considering the endogenous problem,replacing the explained variables and changing the level of observation units,the main conclusions of this paper is not changed.The results of heterogeneity regression show that the agglomeration of correlated industries is beneficial to the improvement of the resource allocation efficiency of private enterprises and foreign-funded enterprises,which has a greater effect on capital-intensive industries than other factor intensive industries,and is more conducive to the improvement of the resource allocation efficiency of small-scale enterprises.The preliminary estimation results based on the ADS method show that the negative effect of competition effect on markup is generally greater than the positive effect of agglomeration effect,and there are obvious agglomeration heterogeneity and selection effect in correlated industrial agglomeration,thus improving the efficiency of resource allocation.The estimation results of year by year based on the ADS method show that the effect of competition effect is gradually greater than that of agglomeration effect,and the heterogeneity of agglomeration effect is gradually reduced,while the selection effect is increasing year by year.The heterogeneous estimation results of groups with different enterprise ownership show that,for private enterprises and foreign-funded enterprises,the agglomeration effect is less than the competition effect,and there is significant agglomeration effect heterogeneity and selection effect,while for state-owned enterprises,there is only significant agglomeration effect heterogeneity.The heterogeneous estimation results of groups with different enterprise size show that the influence of competition effect on small-scale enterprises is greater than that of agglomeration effect,and the selection effect is more obvious,while that of large-scale enterprises is more obvious.