Effect of government financial support on the development of China’s rare earth industry and influencing factors
DONG Juan,1, ZHENG Minggui,1,2, ZHONG Changbiao31. School of Economics and Management, Jiangxi University of Science and Technology, Ganzhou 341000, China 2. School of Management, University of Science and Technology of China, Hefei 230026, China 3. School of Business, Yunnan University of Finance and Economics, Kunming 650221, China
Abstract Research on the effect of government financial support on the development of the rare earth industry in China is of great value for improving the theories of policy study of the rare earth industry, optimizing the policy system of government financial support, and realizing the sustainable development of the industry. Taking listed rare earth companies in China as examples, this study constructed an efficiency evaluation model of government financial support based on slacks-based measure data envelopment analysis (SBM-DEA) and an influencing factor model based on panel feasible generalized least squares (FGLS) estimation method, calculated and analyzed the efficiency and influencing factors of government financial support for China’s rare earth industry from 2010 to 2019, and distinguished between the front-end and the back-end of the rare earth industrial chain to compare and analyze the difference of government financial support effects. The results show that: The annual average value of government financial support efficiency of China’s rare earth industry is 1.313. Government financial support has an “incentive effect” on 65% of the listed rare earth companies, which has achieved the overall goal of government financial support policy. But it still has an “exclusion effect” on 35% of the listed rare earth companies. The annual average values of government financial support efficiency of the front-end and the back-end of the rare earth industrial chain are 1.145 and 1.377, respectively, which means that the “incentive effect” of government financial support on the back-end of the inductrial chain is significantly greater than that on the front-end. Government financial support is conducive to promoting the extension of the rare earth industrial chain to the back end. With the passage of time, the government financial support efficiency of the rare earth industry as a whole shows a downward trend, and the “incentive effect” gradually turns into the “exclusion effect”. The introduction of special policies can improve the efficiency of government financial support in the short term, but the long-term effect is limited. There is an inverted U-shaped relationship between government financial support intensity and government financial support efficiency of the rare earth industry, and at the enterprise scale, a significant positive effect on the government financial support efficiency of the rare earth industry can be observed. This study may deepen the understanding of the effect of government financial support on the development of China’s rare earth industry and provide a reference for the formulation of differentiated government financial support policies for China’s rare earth industry. Keywords:government financial support;rare earth;industrial chain;efficiency evaluation;incentive effect;exclusion effect;SBM-DEA four-stage model;China
PDF (3749KB)元数据多维度评价相关文章导出EndNote|Ris|Bibtex收藏本文 本文引用格式 董娟, 郑明贵, 钟昌标. 中国稀土产业发展财政支持效应及其影响因素. 资源科学[J], 2020, 42(8): 1551-1565 doi:10.18402/resci.2020.08.10 DONG Juan, ZHENG Minggui, ZHONG Changbiao. Effect of government financial support on the development of China’s rare earth industry and influencing factors. RESOURCES SCIENCE[J], 2020, 42(8): 1551-1565 doi:10.18402/resci.2020.08.10
阶段四:调整后投入产出的SBM分析。由调整后的投入产出值 和 分别替换原始投入产出数据xij和yrj。再利用第一阶段的SBM模型进行计算,获得消除财政支持影响后稀土产业的管理效率(ME, Management Efficiency of the Rare Earth Industry)。
根据上述SBM-DEA四阶段模型可知,稀土产业综合效率受管理和环境两维度因素影响,本文将稀土产业的综合效率(CE)分解为管理效率(ME)和环境效率,由于环境变量选择的是财政支持指标,因此环境效率也表示为稀土产业的财政支持效率(GE,Government Financial Support Efficiency of the Rare Earth Industry)。稀土产业DMUd在t时期的财政支持效率(GE)的计算公式为:
Figure 1Comparison of government financial support efficiency of the front-end and the back-end of the rare earth industrial chain and the change of the whole industry, 2010-2019
Table 5 表5 表5中国稀土产业财政支持效率影响因素回归结果 Table 5Regression results of factors influencing the efficiency of government finical support for China’s rare earth industry
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