摘要
文章利用1991～2006年25个工业行业的数据构造了138组面板数据集，借鉴Jeffrey Wurgler（2000）提出的行业投资弹性系数模型，测算出我国各区域和各省资本配置效率。结果发现，东部、中部和西部资本配置效率依次递减，省际层面资本配置效率差异显著。在此基础上对资本配置效率省际差异的影响因素分别进行了截面和面板数据分析，重点考察了地区性行政垄断、产品市场需求和金融发展水平的作用。结果发现，地区性行政垄断是阻碍资本配置效率提高的重要因素，产品市场需求、市场化程度不同程度地促进了资本配置效率的提高，而金融发展水平、外商投资、初始经济发展水平的解释力度则很弱。
This paper constructs 138 groups of panel data sets by using data of the 25 industries from 1991 to 2006, then measures regional and provincial capital allocation efficiency, the results show that the eastern, central and western parts of the allocation of capital efficiency are reduced, and the differences of inter- provincial level of capital allocation efficiency is significant. Meanwhile, the author concerns the influence factors of the provincial efficiency of capital allocation; finally, the author reaches a conclusion that local administrative monopoly seriously hinders efficiency of capital allocation. Product market demand, market - oriented level promote the effieieney of the allocation of capital and financial development, foreign investment, the initial level of economic development weakly explain the divergence of the provincial efficiency of capital allocation.
出处
《山西财经大学学报》
CSSCI
北大核心
2009年第2期34-39,共6页
Journal of Shanxi University of Finance and Economics
基金
教育部2006年度哲学社会科学研究重大课题攻关项目"转轨经济中的反行政垄断与促进竞争政策研究"的阶段性成果
项目编号:06JZD0015
关键词
资本配置效率
地区性行政垄断
市场化
the allocation of capital efficiency
local administrative monopoly
market orientation
