New-type infrastructure and total factor productivity: evidence from listed manufacturing firms in China

Huwei Wen () and Jinxia Zhan
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Huwei Wen: Nanchang University
Jinxia Zhan: Nanchang University

Economic Change and Restructuring, 2023, vol. 56, issue 6, No 28, 4465-4489

Abstract: Abstract The new-type infrastructure, which leads to the reform and upgradation of the manufacturing industry, is the pillar of the modern economic system. This study looks at the impact of new-type infrastructure on the total factor productivity of firms on the basis of panel data of listed manufacturing firms in China from 2007 to 2020. This study finds that the new-type infrastructure can significantly enhance the total factor productivity of manufacturing firms. The promotion effects of new-type infrastructure on total factor productivity are heterogeneous according to the characteristics of manufacturing firms. Moreover, the effects are greater in these larger, innovative, externally competitive, and mature firms. Specifically, the new-type infrastructure encourages manufacturing firms to increase innovation activities, thereby improving corporate total factor productivity. In addition, the new-type infrastructure can enhance the efficiency of resource allocation. That is, the new-type infrastructure can increase the investment of manufacturing firms with higher market value and productivity.

Keywords: New-type infrastructure; Manufacturing firms; Total factor productivity; Panel quantile regression (search for similar items in EconPapers)
JEL-codes: M21 O47 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s10644-023-09561-1

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