关键词: 政府治理 , 生产率 , 市场效应 , 代理成本效应

Abstract:

This paper examines the process and path where government governance affects the productivity of private enterprises. It is the breakthrough point to understand the microscopic mechanism that Chinese local governments promote the development of private enterprises and local economic growth under the transition economy. Empirical evidence suggests that there are two effects of government governance: the market effect and government agency cost effect. The key to government governance affects firms productivity is the market effect. Further study finds that, government governance affects the sensitivity of the enterprise output to capital and intermediate inputs. The market effect mainly influences the sensitivity of the enterprise output to capital and intermediate inputs, and the cost effect mainly influences the sensitivity of the enterprise output to intermediate input.

Key words: government governance , productivity , market effect , agency cost effect