新能源汽车补贴退坡政策对企业全要素生产率的影响研究

——基于合成DID与连续DID模型

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中图分类号：F426.471；F812.42 文献标识码：Adoi：10.3969/j.issn.1672-2272.202504014

The Impact of the Subsidy Reduction Policy for New Energy Vehicles on Total Factor Productivity of Enterprises： A Study Based on Synthetic DID and Continuous DID Models

Yu Feiyan （School of Economics，Nanjing Audit University，Nanjing 211815，China）

Abstract：The new energy vehicle（NEV） industry，as a strategic emerging industry， has achieved rapid development with the support of policies. However，with the implementation of the subsidy reduction policy，enterprises are facing new challenges. Based on the data of Chinese NEV listed companies from 2009 to 2023，this paper employs Synthetic Difference-in-Differences （DID）and Continuous DID models to explore the impact of the subsidy reduction policy on the total factor productivity（TFP） of enterprises and its heterogeneity. The study finds that the subsidy reduction policy has a significant negative impact on the TFP of enterprises overall， but the impact varies among enterprises with different ownership and sizes，with a greater efect on non-state-owned enterprises and large-scale enterprises. Further analysis of the transmisson mechanism indicates that enterprises can mitigate the negative impact of the subsidy reduction policy to some extent by increasing R&D and innovation investment. Finally， based on the research conclusions and the current development status of the NEV industry.

Key Words：New Energy Vehicles； Subsidy Reduction Policy； Total Factor Productivity; DID Model

0 引言

中国汽车流通协会乘用车市场信息联席分会（以下简称乘联分会）发布的最新数据显示，2024年中国新能源汽车销量1286.6万辆，同比增长 35.5% ，同时全球新能源汽车销量突破1000万辆。（剩余12015字）