统计研究

改革开放以来,随着我国逐渐从计划经济向市场经济体制过渡,资本的配置效率是否得到了提升?本文构建了基于资本产出比的条件趋同分析框架,并使用资本产出比的调整速度来量度资本配置效率。实证检验发现,1952年以来我国省区资本产出比均向各自的稳定状态收敛,条件趋同现象显著。1978年和1992年前后,资本产出比的调整速度出现了阶段性提升,这说明市场化改革提高了我国的资本配置效率。另外,1992年之后,东部地区的资本配置效率要明显高于中西部地区。

Since the reform and opening,China has finished the transformation from planned economy to market economy.Has the capital deployment efficiency been improved? This paper constructs a conditional convergence framework of capital-output ratio,and uses the adjustment speed to measure the capital deployment efficiency.We find that the capital-output ratio of Chinese provinces exactly converges to their equilibrium level from 1952,and the conditional convergence phenomenon is obvious.In 1978 and 1992,the adjustment speed of capital-output ratio rises assuredly.It shows that the market reform improves the capital deployment efficiency.In addition,the capital deployment efficiency of the East is higher than that of the Middle and West after 1992.