关键词: 技术要素市场发展, 生产率, 影响机制, 制造业

Abstract: On the basis of theoretical induction of the mechanism of the technology market development (TMD) affecting the productivity growth of manufacturing industry (PGMI), this paper selects the data of 248 prefecture-level cities in China from 2005 to 2020 and empirically verifies the theoretical expectation by using a variety of measurement methods. It is found that TMD significantly promotes PGMI, and this conclusion still holds after a series of robustness tests such as instrumental variable method and firm-level estimation. The promoting effect of TMD is mainly realized by improving the efficiency of innovation resource allocation, promoting technology spillover and improving the transformation effect of scientific and technological achievements. For the coastal cities, provincial capitals and cities with stronger technological advancement capacity in manufacturing industry, the impact of TMD is more obvious. The further study finds that the development of labor market and capital market and big data have enhanced the promotion effect of TMD on PGMI. This paper has verified the effect of the technological factor market development on PGMI, and provided a beneficial reference for the high-quality development of China’s manufacturing industry and the ongoing factor marketization reform.

Key words: Technological Factor Market Development, Productivity, Influence Mechanism, Manufacturing Industry