The core sign of new quality productivity is the sharp increase in total factor productivity (TFP). Based on the data of China’s A-share manufacturing enterprises, the paper identifies the TFP systemic shocks at the macro and industry levels, and evaluates the structural stickiness of the manufacturing industry to TFP shocks by using information entropy and industry correlation degree through counterfactual structural simulation, as an indicator of the industry’s new quality productivity. We find that computer communication electronic equipment manufacturing, special equipment and general equipment manufacturing have strong new quality productivity. The new quality productivity of electrical machinery manufacturing industry and ferrous metal processing industry show structural differentiation that the lower tail enterprises are not sensitive to TFP shocks. Non-ferrous and non-metallic industries with weak new quality productivity need strong exogenous incentives. In addition, there is a strong positive correlation between information entropy and industry correlation, indicating that the high-tech productivity industry has a radiating role. The conclusion provides a general method for evaluating the new quality productivity of industries, and also provides a basis for implementing differentiated industry incentive policies.
ZHAO Dang-ru and Colleagues
. Total factor productivity shocks and new quality productivity in manufacturing industry:An analysis based on the perspective of structural stickiness[J]. Urban Problems, 2024
, 346(5)
: 62
-74
.
DOI: 10.13239/j.bjsshkxy.cswt.240511
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