The Study of Industrial Agglomeration improving Misallocation of Resources

摘要

This paper incorporated industry agglomeration into the misallocation of resources theoretical framework, we constructed improving effect model. By extending the method of Levinsohn and Petrin we calculated the misallocation index in China, the research indicates that 72% industries are inadequate capital allocation and 69% are excessive labor allocation, most of capital-intensive industries have configuration phenomenon of excess capital allocation, at the same time, labor-intensive industries are mostly capital inadequate, the lack of labor allocation occurred in the technology-intensive industries; The improvement of agglomeration mainly through the capital threshold and labor structure effect on misallocation. They can create synergies to improve excessive capital allocation and inadequate labor allocation, the elastic coefficient are 0.0845 and 0.013; But industrial agglomeration will do harm to inadequate capital allocation and excessive labor allocation, the elastic coefficient are 0.0280 and 0.0214; The capital threshold and labor structure can also have an effective role in misallocation of resources. Through subregional study we found that industry agglomeration in the Eastern region has a better effect, but it has a wider range of improvement in the Midwest part of China. The regional conclusion provided evidences for China's industrial layout, improving resource utilization efficiency and balancing regional development.