本文選題：經(jīng)濟(jì)轉(zhuǎn)型　切入點(diǎn)：地區(qū)投資增長(zhǎng)　出處：《南開(kāi)大學(xué)》2014年博士論文　論文類型：學(xué)位論文

【摘要】：中國(guó)的資本形成率長(zhǎng)期在高位運(yùn)行,近年來(lái)更是持續(xù)攀升,不僅遠(yuǎn)遠(yuǎn)高于發(fā)達(dá)國(guó)家,而且高于其他新興經(jīng)濟(jì)體。投資既創(chuàng)造供給,又創(chuàng)造需求,這種雙重作用推動(dòng)了中國(guó)經(jīng)濟(jì)持續(xù)多年的高速增長(zhǎng)。鑒此,過(guò)去三十多年中國(guó)的經(jīng)濟(jì)增長(zhǎng)方式可以理解為投資依賴型經(jīng)濟(jì)增長(zhǎng)方式。同時(shí),由于投資的易變性,投資也帶動(dòng)了中國(guó)經(jīng)濟(jì)的短期波動(dòng)。由于投資在經(jīng)濟(jì)舞臺(tái)上扮演的重要角色,中國(guó)的宏觀經(jīng)濟(jì)政策時(shí)常圍繞投資展開(kāi),甚至直接將投資作為宏觀調(diào)控的重要工具�？疾熘袊�(guó)獨(dú)特的投資行為及其決定機(jī)制,對(duì)于探尋中國(guó)經(jīng)濟(jì)發(fā)展的內(nèi)在規(guī)律,進(jìn)而把握經(jīng)濟(jì)發(fā)展的未來(lái)趨勢(shì),具有特別重要的意義。 本文基于轉(zhuǎn)型經(jīng)濟(jì)背景,運(yùn)用科學(xué)的思維形式和規(guī)范的研究方法,力圖對(duì)中國(guó)的投資行為展開(kāi)全面而深入地解讀。本文研究路徑如下。首先,通過(guò)對(duì)現(xiàn)象材料的比較、分析,由具體上升到一般,歸納出轉(zhuǎn)型期中國(guó)投資行為的總量與結(jié)構(gòu)特征。然后,從實(shí)體因素和金融因素著手,選取具有轉(zhuǎn)型特征的若干變量,從理論和實(shí)證層面分別探究這些變量對(duì)地區(qū)、行業(yè)、企業(yè)投資的影響,將計(jì)量結(jié)果與理論命題對(duì)比,結(jié)合具體經(jīng)濟(jì)現(xiàn)實(shí),解析二者一致或背離的緣由。最后,凝煉出本文主要結(jié)論,據(jù)此提出相關(guān)政策建議。 本文在導(dǎo)論部分首先介紹了選題背景,接著提出所要研究的問(wèn)題；然后介紹文章的研究思路和主要內(nèi)容；最后,指出文章的可能創(chuàng)新和不足之處。在第二章的文獻(xiàn)綜述中先梳理了國(guó)外主流投資理論模型的演變以及實(shí)證研究的結(jié)果；再結(jié)合中國(guó)的轉(zhuǎn)型特征,系統(tǒng)回顧了有關(guān)中國(guó)投資行為的理論和實(shí)證文獻(xiàn)；然后對(duì)相關(guān)文獻(xiàn)進(jìn)行簡(jiǎn)評(píng)。第三章在充分占用數(shù)據(jù)材料的基礎(chǔ)上,從總量和結(jié)構(gòu)的角度對(duì)改革開(kāi)放以來(lái)的投資狀況進(jìn)行統(tǒng)計(jì)描述分析,以勾勒其動(dòng)態(tài)演化趨勢(shì)及結(jié)構(gòu)變遷過(guò)程,抽象、概括其行為特征,為后文的進(jìn)一步研究提供現(xiàn)實(shí)素材。 第四章基于轉(zhuǎn)型期產(chǎn)能過(guò)剩、信貸擴(kuò)張與地區(qū)投資高漲并存的典型事實(shí),構(gòu)筑地區(qū)投資理論模型,刻畫(huà)產(chǎn)能利用、信貸擴(kuò)張對(duì)地區(qū)投資行為的作用機(jī)理,然后運(yùn)用省級(jí)面板數(shù)據(jù)進(jìn)行實(shí)證檢驗(yàn)。結(jié)果表明在總體上產(chǎn)能利用水平對(duì)投資并沒(méi)有顯著的正向引導(dǎo)作用,而信貸擴(kuò)張對(duì)投資則具有顯著的正向推動(dòng)作用。進(jìn)一步的子樣本分析表明,在不同地區(qū)和時(shí)期,產(chǎn)能利用率、信貸擴(kuò)張對(duì)地區(qū)投資的影響作用略有差異,本文從區(qū)域經(jīng)濟(jì)發(fā)展的不均衡、宏觀經(jīng)濟(jì)政策以及經(jīng)濟(jì)體制變遷等角度剖析了這種差異的原因。 行業(yè)投資效率是投資行為在質(zhì)量維度上的映射。在經(jīng)濟(jì)轉(zhuǎn)型期,行業(yè)投資效率受制于特定的制度環(huán)境。第五章首先從理論上闡釋政府干預(yù)和金融深化對(duì)行業(yè)投資配置效率的影響機(jī)制,并據(jù)此提出研究假說(shuō)；然后采用行業(yè)面板數(shù)據(jù)對(duì)研究假說(shuō)進(jìn)行實(shí)證檢驗(yàn)。結(jié)果顯示,金融深化能顯著提高行業(yè)投資效率；然而,金融深化對(duì)行業(yè)投資效率改善功能的發(fā)揮受到政府干預(yù)的影響,具體來(lái)說(shuō),政府通過(guò)干預(yù)銀行信貸決策和金融資源的流向,削弱了金融深化對(duì)行業(yè)投資效率的改善作用。 隨著剩余勞動(dòng)力的逐步消化,工資成本上升是長(zhǎng)期趨勢(shì)；同時(shí),伴隨利率市場(chǎng)化改革,央行頻繁調(diào)整基準(zhǔn)利率。在此背景下,第六章構(gòu)造包含工資和利率的企業(yè)投資決策模型并提出理論命題,然后運(yùn)用企業(yè)面板數(shù)據(jù)進(jìn)行計(jì)量檢驗(yàn)。結(jié)果發(fā)現(xiàn),工資成本對(duì)企業(yè)投資具有正向影響,本期利率對(duì)企業(yè)投資具有負(fù)向影響,然而這些影響效力皆受制于產(chǎn)權(quán)性質(zhì)和市場(chǎng)化程度；預(yù)期下期利率對(duì)民營(yíng)控股企業(yè)和市場(chǎng)化程度高的地區(qū)企業(yè)投資行為具有顯著負(fù)向影響,對(duì)其他類型企業(yè)則沒(méi)有影響。 在前文理論與實(shí)證分析的基礎(chǔ)上,第七章歸納和總結(jié)全文的主要結(jié)論,并據(jù)此提出匡正投資行為、改善投資效率以及轉(zhuǎn)變投資依賴型經(jīng)濟(jì)增長(zhǎng)方式的相關(guān)政策建議。進(jìn)而言之,本文提出“三個(gè)轉(zhuǎn)變”作為全文的落腳點(diǎn),即轉(zhuǎn)變政府角色、轉(zhuǎn)變投資方向、轉(zhuǎn)變企業(yè)行為。 總體而言,本文同時(shí)考慮具有轉(zhuǎn)型特征的實(shí)體因素和金融因素對(duì)投資行為的影響,抽象出契合中國(guó)實(shí)際的投資模型,從而突破了建構(gòu)于完善市場(chǎng)經(jīng)濟(jì)條件下的西方主流投資理論的窠臼。由于微觀個(gè)體的異質(zhì)性,不同層面的投資行為可能存在系統(tǒng)性差異。因此,本文分別研究地區(qū)、行業(yè)和企業(yè)投資行為,以探析各因素對(duì)不同維度投資行為的影響,以期對(duì)轉(zhuǎn)型期中國(guó)投資行為進(jìn)行全面系統(tǒng)把握。這是對(duì)現(xiàn)有投資理論研究的拓展與豐富。
[Abstract]:China capital formation rate in the long-term running high, especially in recent years continued to rise, not only is much higher than in developed countries, but also higher than in other emerging economies. Both investment and create supply and demand creation, this dual role to promote the continuous years of rapid growth China economy. In view of this, in the past thirty years of economic growth can be China understand the dependent economic growth into investment. At the same time, because the volatility of investment, investment also led to short-term fluctuations in the economy. Because of the important role China investment plays in the economic arena, China macroeconomic policies often focus on investment, and even direct investment as an important tool of macro-control on investment behavior. China unique and its decision mechanism, to explore the inherent law of China economic development, and then grasp the future trend of economic development, is especially important.
This paper based on the background of economic transformation, the use of scientific research methods of thinking forms and norms, to expand the interpretation of a comprehensive and in-depth to the investment behavior of China. Follows the path of this study. Firstly, through the comparison, the phenomenon of material analysis, from specific to general, summed up the total amount and structure characteristics of China investment behavior during the transition period. Then, starting from the physical factors and financial factors, select some variables with the characteristics of the transition, and explore the industry variables on these areas, from theoretical and empirical aspects, the impact of business investment will measure a comparison of fruit and theory, combined with the specific economic reality, reason analysis of two consistent or deviation. Finally, refine the main conclusions of this paper, puts forward relevant policy suggestions accordingly.
In the introduction of this paper firstly introduces the background, then put forward the research problems; then introduce the research ideas and the main content of the article; finally, the article points out the possible innovations and shortcomings. In the second chapter is literature review first reviews the evolution of the mainstream investment theory model and the empirical study result again; combined with the features of transformation Chinese, system reviews China investment behavior of the theoretical and empirical literature; and then review the relevant literature. In the third chapter, based on the full use of the data, statistical analysis and description on the status of investment since the reform and opening up from the total amount and structure point of view, to outline the evolution trend and structural changes process, abstraction, generalization of the behavioral characteristics, provide practical materials for the further study.
The fourth chapter based on the typical transition period of overcapacity, credit expansion and rising investment in regions coexist, build a theoretical model of investment area, describe the capacity utilization, the credit expansion mechanism of regional investment behavior, and then using the provincial panel data empirical test. The results show that the overall level of capacity utilization and no significant positive effect the investment and credit expansion has significant positive effect on investment. Further sub sample analysis shows that in different regions and periods, the capacity utilization rate, credit expansion impact on regional investment effect is slightly different, the unbalanced development of the regional economy, macroeconomic policy and economic system transition perspective the reason for this difference.
Industry investment efficiency is a mapping of investment behavior in the quality dimensions. In the period of economic transition, by industry investment efficiency in the specific institutional environment. The fifth chapter from the theory of government intervention and financial deepening impact on industry investment allocation efficiency, and puts forward the research hypothesis; then using the panel data of industries the hypothesis of empirical test. The results show that financial deepening can significantly improve the efficiency of industry investment; however, financial deepening play on industry investment efficiency and improve the function of the influence of government intervention by the government, specifically, through the intervention of bank credit decisions and financial resources to weaken the financial deepening effect on improving the efficiency of industry investment.
With the gradual digestion of the surplus labor force, rising wage costs is a long-term trend; at the same time, along with the market-oriented interest rate reform, the central bank frequently adjust the benchmark interest rate. Under this background, the sixth chapter includes wages and interest of the enterprise investment decision-making model and puts forward theoretical proposition, then use the enterprise panel data econometric test. The results showed that positive the cost impact on corporate investment, the interest rate on corporate investment has a negative effect, but these are subject to influence the effectiveness of property rights and the degree of market expectations; next interest rate on the private holding company and a high degree of market-oriented enterprises investment behavior has a significant negative impact, there is no impact on other types of enterprises.
Based on the analysis of the above theory and empirical analysis, the main conclusion of the seventh chapter sums up and summarizes the full text, and puts forward relevant policy suggestions on investment behavior, improve investment efficiency and investment dependent transformation of the mode of economic growth. Furthermore, this paper puts forward "three change" as the foothold, is changing the role of government, transformation the direction of investment, changes in the behavior of enterprises.
Overall, this paper considers that has influence on the investment behavior of the real factors and financial factors in the transformation characteristics of the abstract model with the actual investment China, thus breaking the construction to improve the market economy under the conditions of the western mainstream theory of investment patterns. Due to the heterogeneity of individual investment behavior, may be different levels of system differences. Therefore, in this study area, industry and enterprise investment behavior, the research on the influence factors of the different dimensions of investment behavior, in order to grasp the overall system of Chinese investment behavior in transition. This is to expand the existing investment and rich theoretical research.

【學(xué)位授予單位】：南開(kāi)大學(xué)
【學(xué)位級(jí)別】：博士
【學(xué)位授予年份】：2014
【分類號(hào)】：F124;F832.5

【相似文獻(xiàn)】

相關(guān)期刊論文 前10條

1 李承宗,謝翠蓉;個(gè)體投資行為的倫理學(xué)思考[J];財(cái)經(jīng)理論與實(shí)踐;2005年04期

2 張鳳;;上市公司現(xiàn)金持有過(guò)量對(duì)投資行為及效率的影響分析[J];華東經(jīng)濟(jì)管理;2009年11期

3 翟勝寶;曹學(xué)勤;;銀行關(guān)系、股權(quán)激勵(lì)與民營(yíng)企業(yè)的非效率投資行為[J];江漢學(xué)術(shù);2013年04期

4 黃希源 ,鄒樹(shù)林 ,朱祖襄;農(nóng)戶投資行為的系統(tǒng)分析[J];中南財(cái)經(jīng)大學(xué)學(xué)報(bào);1988年03期

5 黃希源,鄒樹(shù)林,朱祖襄;農(nóng)戶投資行為的系統(tǒng)考察[J];農(nóng)業(yè)經(jīng)濟(jì)問(wèn)題;1988年04期

6 周登科 ,陶盛愛(ài);農(nóng)村計(jì)劃與市場(chǎng)結(jié)合下的農(nóng)戶投資行為[J];山西財(cái)經(jīng)學(xué)院學(xué)報(bào);1992年01期

7 楊中萬(wàn);我國(guó)農(nóng)戶投資行為的基本特征[J];貴州社會(huì)科學(xué);1992年03期

8 朱玉春;棗子溝流域農(nóng)戶投資行為分折[J];干旱地區(qū)農(nóng)業(yè)研究;1993年S2期

9 ;正確引導(dǎo)農(nóng)民投資行為[J];云南農(nóng)業(yè);2000年02期

10 陳嬈,江占民;我國(guó)農(nóng)戶投資行為研究[J];北京農(nóng)學(xué)院學(xué)報(bào);2001年03期

相關(guān)會(huì)議論文 前4條

1 于術(shù)桐;黃賢金;鄔震;陳昌春;胡鋒;楊旭紅;;紅壤丘陵區(qū)農(nóng)戶水土保持投資行為研究——以江西省余江縣為例[A];科技、工程與經(jīng)濟(jì)社會(huì)協(xié)調(diào)發(fā)展——中國(guó)科協(xié)第五屆青年學(xué)術(shù)年會(huì)論文集[C];2004年

2 于術(shù)桐;黃賢金;鄔震;陳昌春;胡鋒;楊旭紅;;紅壤丘陵區(qū)農(nóng)戶水土保持投資行為研究——以江西省余江縣為例[A];管理科學(xué)與系統(tǒng)科學(xué)研究新進(jìn)展——第8屆全國(guó)青年管理科學(xué)與系統(tǒng)科學(xué)學(xué)術(shù)會(huì)議論文集[C];2005年

3 張其術(shù);;加強(qiáng)市場(chǎng)監(jiān)管 優(yōu)化發(fā)展環(huán)境[A];2003年度湖南省工商行政管理系統(tǒng)獲獎(jiǎng)?wù)撐膮R編[C];2004年

4 易希薇;劉曉龍;;制度環(huán)境、政府投資行為與工業(yè)園區(qū)績(jī)效[A];第五屆（2010）中國(guó)管理學(xué)年會(huì)——組織與戰(zhàn)略分會(huì)場(chǎng)論文集[C];2010年

相關(guān)重要報(bào)紙文章 前10條

1 應(yīng)毅軍;投資者的需求與投資行為[N];國(guó)際商報(bào);2002年

2 記者 陳威華邋徐濤;巴西創(chuàng)新學(xué)科,求解“古怪”投資行為[N];新華每日電訊;2007年

3 應(yīng)毅軍;投資者的需求與投資行為[N];國(guó)際商報(bào);2001年

4 本報(bào)記者 潘英麗;投資行為減弱 居住功能增強(qiáng)[N];中國(guó)經(jīng)濟(jì)時(shí)報(bào);2014年

5 李俊雄;“快半步”就要走出去[N];東莞日?qǐng)?bào);2013年

6 方建武 徐成賢 姜燁;文化因素對(duì)個(gè)人金融投資行為的影響[N];光明日?qǐng)?bào);2006年

7 王霄路;轉(zhuǎn)移資產(chǎn)是投資行為還是變相清償債務(wù)[N];中國(guó)城鄉(xiāng)金融報(bào);2009年

8 胥惠中;買房出租到底合算不[N];中國(guó)財(cái)經(jīng)報(bào);2005年

9 華西證券有限責(zé)任公司 陳暉　姚帥君 馬超群;基于健康體檢概念的投資行為測(cè)評(píng)[N];上海證券報(bào);2010年

10 魏文彪;“炒煤”行為的商業(yè)評(píng)判[N];經(jīng)理日?qǐng)?bào);2005年

相關(guān)博士學(xué)位論文 前10條

1 文守遜;上市公司控制人投資行為研究[D];重慶大學(xué);2004年

2 張前程;轉(zhuǎn)型期中國(guó)投資行為的理論與實(shí)證研究[D];南開(kāi)大學(xué);2014年

3 陳艷;國(guó)有企業(yè)非效率投資行為研究[D];首都經(jīng)濟(jì)貿(mào)易大學(xué);2009年

4 郭昱;農(nóng)業(yè)上市公司募集資金投資行為與效果[D];上海交通大學(xué);2008年

5 徐磊;中國(guó)上市公司的投資行為與效率研究[D];上海交通大學(xué);2007年

6 陸昂;轉(zhuǎn)型時(shí)期中國(guó)政府投資行為研究[D];暨南大學(xué);2008年

7 殷紅霞;我國(guó)農(nóng)村家庭教育投資行為研究[D];西北農(nóng)林科技大學(xué);2008年

8 朱迪星;企業(yè)迎合投資行為研究[D];武漢大學(xué);2012年

9 鐘海燕;中國(guó)國(guó)有控股上市公司投資行為及效率研究[D];重慶大學(xué);2010年

10 安靈;中國(guó)上市公司所有權(quán)結(jié)構(gòu)與投資行為研究[D];重慶大學(xué);2008年

相關(guān)碩士學(xué)位論文 前10條

1 盧蔣運(yùn);上市公司股權(quán)結(jié)構(gòu)對(duì)非效率投資行為影響的研究[D];暨南大學(xué);2011年

2 艾洪娟;新疆農(nóng)戶農(nóng)業(yè)投資行為研究[D];新疆農(nóng)業(yè)大學(xué);2007年

3 潘丹;融資結(jié)構(gòu)對(duì)投資行為影響的研究[D];南華大學(xué);2012年

4 朱媛琳;我國(guó)汽車產(chǎn)業(yè)公司治理與追隨性投資行為的相關(guān)性研究[D];哈爾濱理工大學(xué);2012年

5 劉丹;“拆遷補(bǔ)償居民”投資行為中的信任[D];華中科技大學(xué);2013年

6 白海泉;國(guó)有控股上市公司投資行為影響因素的實(shí)證分析[D];西南財(cái)經(jīng)大學(xué);2009年

7 張作玲;多元化公司的債務(wù)融資與公司投資行為[D];石河子大學(xué);2011年

8 王瑤;上市公司股權(quán)結(jié)構(gòu)對(duì)投資行為的影響研究[D];廣東財(cái)經(jīng)大學(xué);2014年

9 李笑娜;我國(guó)上市公司股權(quán)結(jié)構(gòu)與投資行為關(guān)系研究[D];浙江大學(xué);2010年

10 萬(wàn)俏宇;我國(guó)上市公司非效率投資行為研究[D];南昌大學(xué);2008年

，

本文編號(hào)：1628232