資本錯(cuò)配對(duì)中國(guó)產(chǎn)出效率的影響:金融業(yè)與其他產(chǎn)業(yè)的對(duì)比分析
發(fā)布時(shí)間:2018-03-31 14:07
本文選題:資源配置效率 切入點(diǎn):資本錯(cuò)配 出處:《東北師范大學(xué)》2013年碩士論文
【摘要】:受歐債危機(jī)和美國(guó)經(jīng)濟(jì)衰退的影響,我國(guó)經(jīng)濟(jì)增速放緩,地方政府出臺(tái)各項(xiàng)刺激計(jì)劃以期扭轉(zhuǎn)這一頹勢(shì)。然而,改善我國(guó)目前的經(jīng)濟(jì)困境必須從造成經(jīng)濟(jì)結(jié)構(gòu)失衡的根本原因著手即政府對(duì)信貸分配干預(yù)程度大,金融業(yè)壟斷程度高由此所造成的各產(chǎn)業(yè)部門投資失衡和資本錯(cuò)配。 本文首先構(gòu)建了以壟斷表征資源流動(dòng)障礙的多部門一般均衡模型,將經(jīng)濟(jì)產(chǎn)出的增長(zhǎng)率分解為要素投入變動(dòng),產(chǎn)業(yè)部門全要素生產(chǎn)率變化,資源配置效率以及產(chǎn)業(yè)結(jié)構(gòu)變遷四個(gè)部分。在此基礎(chǔ)上,利用我國(guó)1978-2010年八大產(chǎn)業(yè)的面板數(shù)據(jù),分析資源配置效率對(duì)我國(guó)產(chǎn)出增長(zhǎng)率的貢獻(xiàn)度,并據(jù)此擬合我國(guó)產(chǎn)出效率的變化率;再將我國(guó)的資源配置效率分解為資本和勞動(dòng)力配置效率,著重研究作為資源配置核心的資本配置效率變動(dòng)趨勢(shì);不僅如此,還利用我國(guó)2005-2010年十九行業(yè)的面板數(shù)據(jù)驗(yàn)證結(jié)論的穩(wěn)健性。在假定其他產(chǎn)業(yè)資本完全流動(dòng)條件下,測(cè)算金融業(yè)的資本配置效率;沿用這一思路測(cè)算其他產(chǎn)業(yè)部門的資本配置效率,對(duì)比金融業(yè)與其他產(chǎn)業(yè)的資本錯(cuò)配狀態(tài),分析金融業(yè)壟斷是否為引致我國(guó)整體資本錯(cuò)配的主要因素。 實(shí)證分析的結(jié)論顯示:(1)我國(guó)經(jīng)濟(jì)增長(zhǎng)保持以要素投入為主導(dǎo)的投資拉動(dòng)型模式,資源配置對(duì)產(chǎn)出增長(zhǎng)的貢獻(xiàn)絕大多數(shù)年份為負(fù)值但近年來(lái)有所改善;(2)資源流動(dòng)障礙的存在導(dǎo)致我國(guó)產(chǎn)出效率系數(shù)水平偏低,而增進(jìn)我國(guó)市場(chǎng)化程度的各項(xiàng)改革措施有利于改善我國(guó)的產(chǎn)出效率;(3)作為資源配置的核心,資本配置效率的數(shù)值及變化趨勢(shì)主導(dǎo)我國(guó)資源配置效率的變動(dòng)態(tài)勢(shì),且2005年以來(lái)資本配置效率扭負(fù)為正逐步提升;(4)我國(guó)以銀行為主導(dǎo)的金融體系,其高度壟斷性引致我國(guó)存在較大程度的資本錯(cuò)配;而隨著商業(yè)銀行股份制改革的推行,金融體系資本配置效率有所提升并帶動(dòng)我國(guó)經(jīng)濟(jì)產(chǎn)出的增長(zhǎng);(5)十九行業(yè)與八大產(chǎn)業(yè)的基本結(jié)論保持一致,驗(yàn)證了上述結(jié)論的穩(wěn)健性。根據(jù)上述結(jié)論,,筆者提出發(fā)展多層次、服務(wù)于實(shí)體經(jīng)濟(jì)的金融體系,打破銀行體系的高度壟斷,實(shí)現(xiàn)其服務(wù)轉(zhuǎn)型等多項(xiàng)政策建議。
[Abstract]:Due to the European debt crisis and the recession in the United States, China's economic growth has slowed, and local governments have launched various stimulus plans to reverse this decline. To improve our country's current economic predicament, we must start with the fundamental causes of the imbalance of economic structure, that is, the investment imbalance and capital mismatch in various industrial sectors caused by the government's intervention in credit allocation and the high degree of monopoly in the financial industry. In this paper, a multi-sector general equilibrium model, which is characterized by monopoly, is constructed, which decomposes the growth rate of economic output into the change of factor input and the change of total factor productivity of industrial sector. Based on the four parts of resource allocation efficiency and industrial structure change, this paper analyzes the contribution of resource allocation efficiency to China's output growth rate by using the panel data of the eight major industries in China from 1978 to 2010. According to this, we fit the change rate of our country's output efficiency, then decompose our country's resource allocation efficiency into capital and labor allocation efficiency, focus on the research of capital allocation efficiency change trend as the core of resource allocation; not only that, We also use the panel data of 19 industries from 2005 to 2010 to verify the robustness of the conclusions. Under the assumption of the complete flow of other industrial capital, the capital allocation efficiency of the financial industry is calculated, and the capital allocation efficiency of other industrial sectors is measured by using this idea. By comparing the mismatch of capital between financial industry and other industries, this paper analyzes whether the monopoly of financial industry is the main factor leading to the mismatch of China's overall capital. The conclusion of the empirical analysis shows that China's economic growth maintains an investment-driven model dominated by factor input. The contribution of resource allocation to output growth is negative in most years but improved in recent years. As the core of resource allocation, the value and changing trend of capital allocation efficiency lead to the change of resource allocation efficiency in China. Since 2005, the negative capital allocation efficiency has been improving gradually. 4) China's bank-dominated financial system, whose high monopoly has led to the existence of a large degree of capital mismatch in China, and along with the implementation of the joint-stock system reform of commercial banks, The capital allocation efficiency of the financial system has been improved and the growth of economic output in China has been promoted.) the basic conclusions of 19 industries and the eight major industries are consistent, which verifies the soundness of the above conclusions. According to the above conclusions, the author puts forward the development of multiple levels. Many policy suggestions such as serving the financial system of the real economy, breaking the high monopoly of the banking system and realizing its service transformation.
【學(xué)位授予單位】:東北師范大學(xué)
【學(xué)位級(jí)別】:碩士
【學(xué)位授予年份】:2013
【分類號(hào)】:F124;F832.4
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