我国区域资本配置效率与影响因素研究

发布时间：2019-01-05 20:06

【摘要】：由于自然资源、生产要素、产业结构以及政策倾斜等一系列的原因，我国各区域的经济发展一直处于不均衡的状态，近几年的经济危机进一步突显了该问题。如何引导我国东部、中部、西部以及东北地区的资本，提高投资质量和效率，已成为近年来经济发展讨论的重要课题。因此，论文以我国四大区域——东部地区、中部地区、西部地区以及东北地区为研究对象，以Wurgler（2000）资本配置效率模型为基础，研究了我国2000年到2010年间的总体资本配置效率变化趋势与各区域的资本配置效率，并分析了影响总体以及各区域资本配置效率的经济因素。研究结果显示，我国这十一年间的资本配置效率呈波动上升的趋势，但整体资本配置效率与发达国家的资本配置效率相差较大，在区域资本配置效率中，东部最高，西部其次，中部第三，东北地区最低；人力资本水平、开放水平、城镇化水平与东部资本配置效率正相关，中部地区对外开放水平与城镇化水平的提高可以促进资本配置效率的上升，西部地区的人力资本水平的提高可以有效地促进资本的配置效率上升，而国有化水平与金融发展水平提高则会抑制其提高，东北地区的资本流动主要依靠当地国有资本，导致东北地区的资本配置效率低于其他三个区域。因此，本文提出以下建议：在经济较发达的地区减少政府干预，，而对于相对落后的区域则加大政府的基础建设投入；提高外商投资的数量和质量，加大对管理、技术等资本的引进；在减少国有资本投资比例的同时，对于目前还较依赖国有经济的区域提高国有资本效率；改善投资环境，提高金融机制运作效率，深化金融改革；加快城镇化进程，创造二三线城市良好的投资环境。
[Abstract]:Due to a series of reasons, such as natural resources, factors of production, industrial structure and policy inclination, the economic development of various regions in China has been in an unbalanced state. The economic crisis in recent years has further highlighted the problem. How to guide the capital of the eastern, central, western and northeast regions of our country and improve the quality and efficiency of investment has become an important topic of economic development in recent years. Therefore, this paper takes four regions of China as the object of study: the eastern region, the central region, the western region and the northeast region, and based on the capital allocation efficiency model of Wurgler (2000). This paper studies the change trend of total capital allocation efficiency and the capital allocation efficiency of different regions in China from 2000 to 2010, and analyzes the economic factors that affect the overall and regional capital allocation efficiency. The results show that the efficiency of capital allocation in China has fluctuated and increased in the past 11 years, but the overall efficiency of capital allocation is different from that of developed countries. In the regional capital allocation efficiency, the eastern part is the highest, and the western part is the second. The third in the middle and the lowest in the northeast; The level of human capital, the level of openness, the level of urbanization are positively related to the efficiency of capital allocation in the east, and the improvement of the level of opening to the outside world and the level of urbanization in the central region can promote the increase of the efficiency of capital allocation. The improvement of the level of human capital in the western region can effectively promote the efficiency of capital allocation, while the level of nationalization and the level of financial development will restrain the improvement. The capital flow in Northeast China mainly depends on the local state-owned capital. As a result, the capital allocation efficiency in Northeast China is lower than that in the other three regions. Therefore, this paper puts forward the following suggestions: to reduce government intervention in economically developed areas, and to increase government investment in infrastructure construction for relatively backward regions; Improve the quantity and quality of foreign investment, increase the introduction of management, technology and other capital, reduce the proportion of state-owned capital investment, at the same time, improve the efficiency of state-owned capital in regions that still rely on state-owned economy; Improve the investment environment, improve the efficiency of financial mechanism operation, deepen the financial reform, speed up the process of urbanization, and create a good investment environment for the second and third tier cities.
【学位授予单位】：华中科技大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832;F224

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