迈入新发展阶段,为充分发挥市场在资源配置中的决定性作用,实现“有效市场”和“有为政府”的有机结合,政府需不断推动产业政策从选择性向功能性转型。基于经济增长目标管理现实机制与公共选择理论基础,结合2007—2020年全国各地方政府工作报告的经济增长目标数据,实证研究表明,经济增长压力与功能性产业政策强度存在“倒U形”关系,适度目标引领有利于激励地方政府实施功能性产业政策,但过度的经济增长压力将对功能性产业政策产生挤出效应。进一步研究表明,经济增长压力对功能性产业政策的引领作用需具备一定的地方财力基础和市场发育基础,且公众参与程度的提高有助于功能性产业政策在经济增长高压下持续发展。

In order to give full play to the decisive role of the market in resource allocation, the government needs to promote the continuous transformation of industrial policy from selective to market-friendly functional industrial policy. However, the existing studies seldom consider the specific role of the government as the provider of the system in the process of industrial policy transformation, especially the lack of in-depth research on the impact of promotion incentives on industrial policy transformation under the realistic mechanism of management by the target of economic growth.
Combining the dual role of local government as “political economic man” under the economic growth target management mechanism and public choice theory, this paper focuses on the specific impact of local government's economic growth pressure on functional industrial policies. By using the ratio between the economic growth target promulgated in the government work report and the actual economic growth rate of last year to reasonably measure the economic growth pressure of each local government, and using the expenditure of science and technology, education, transportation, environmental protection and public safety to characterize functional industrial policies, the empirical results show that: There is an inverted U-shaped relationship between the economic growth pressure of local governments and functional industrial policies. When the economic growth pressure is in a moderate range, the increase of economic growth pressure is conducive to encouraging the local government to increase the implementation of functional industrial policies, but when the economic growth pressure exceeds a certain threshold, excessive target induction will trigger the short-term industrial policy tendency of local governments. The high pressure of economic growth will restrain the tendency of local governments to adopt functional industrial policies. The further research shows that the nonlinear relationship between economic growth pressure and functional industrial policy is more prominent in regions with higher financial resources and better market development, and economic growth pressure cannot have a substantial impact on functional industrial policy under low fiscal decentralization and marketization level. The improvement of the level of public participation will help alleviate the crowding out effect of excessive target guidance on functional industrial policies.
Compared with the existing studies, this paper expands in the following three aspects: First, the paper discusses the specific impact of economic growth pressure on local governments to implement functional industrial policies, and broadens the research perspective of influencing factors of industrial policies from a new perspective of economic growth target management; Second, the current research mainly focuses on the impact of economic growth target on the production of micro enterprises and the overall economic operation, while this paper focuses on the impact of growth pressure caused by economic growth target on the implementation of government industrial policies, which enriches the research content of economic consequences of economic growth target. Third, the implementation of local industrial policies should be based on a certain level of financial resources and market development, and public supervision and constraints will also affect the true orientation of functional industrial policies. Therefore, this paper explores the heterogeneity of the mechanism of target-led industrial policy transformation in different regions from the perspectives of Chinese decentralization, market resources and public participation.
To a certain extent, the research in this paper reveals the internal logic of the functional transformation of the industrial policy under the guidance of the economic growth target, which is helpful for the government to promote the transformation of industrial policy through reasonable formulation of the economic growth target in the context of stable economic growth. At the same time, it can also provide corresponding policy suggestions for the improvement of the evaluation index system of local officials, the gradual construction of the inclusive financial system, and the improvement of the functional industrial policy supervision and evaluation mechanism.