关键词: 经济增长目标, 要素市场扭曲, 制度环境

Abstract: This paper empirically examines the impact of local economic growth targets on factor market distortions using the economic growth target data in the report on the work of the provincial government in China from 2005 to 2017. The study shows as follows: (1) Local economic growth targets have a significant distortion effect on the factor markets. Distorting the factor markets by intervening in the allocation of credit resources, expanding land transfers, and lowering labor wages are the ways that local governments use to achieve economic growth targets. (2) There is regional heterogeneity in the impact of local economic growth targets on factor market distortions. The distortion effect of economic growth targets on factor markets is more pronounced in the central and western regions and regions with greater growth pressure. (3) The impact of local economic growth targets on factor market distortions has a threshold effect based on the institutional environment. With the improvement of the financial system, legal system and property rights system, the distortion effect of economic growth targets on factor markets will weaken. This paper provides a new perspective for the study of government target management and factor market distortions, and provides an important realistic basis for the formulation of relevant policies.

Key words: economic growth target, factor market distortion, institutional environment