【摘要】 本文在HK模型框架内尝试对资源配置指标进行分解，并使用双重差分法研究了中国投资审批体制改革对自然垄断企业生产效率和潜力的影响。研究发现：投资审批体制改革对中国企业的生产效率和生产潜力产生了负向冲击，且这一冲击在各地区具有明显的异质性；政府监管促使政策提升企业生产效率，同时抑制生产潜力；投资审批体制改革提升了小规模企业的生产效率，抑制了大规模企业的生产潜力；国有企业受到政策的冲击提升了生产效率，同时抑制了生产潜力；投资审批体制改革通过降低资金运营效率，抑制了自然垄断企业的生产效率和生产潜力。更多还原

【Abstract】 Within the framework of HK model, this paper attempts to separate the micro indicators used to measure production efficiency and production potential, and uses the Differences-in-Differences method to study the impact of China’s investment approval system reform on the production efficiency and potential of natural monopoly industries. The results show that: the reform of the investment approval system in China has exerted a negative impact on the production efficiency and potential of domestic enterprises, with pronounced heterogeneity observed across different regions. Government regulation has stimulated policy-driven improvements in enterprise production efficiency while concurrently suppressing production potential. The reform of the investment approval system has resulted in enhanced production efficiency for small-scale enterprises, while inhibiting the production potential of large-scale enterprises. State-owned enterprises, affected by policy changes, have experienced an increase in production efficiency, albeit with a concomitant suppression of production potential. Furthermore, the reform of the investment approval system has curtailed the production efficiency and potential of natural monopoly enterprises through the reduction of financial operational efficiency.更多还原