制度主导、要素贡献和我国经济增长动力的分类检验

An Empirical Study of the Institution Rule,Factor Contribution and Determinants of China's Economic Growth

本文依据我国市场化和产权制度改革特征,结合罗默(1999)和巴罗等(2000)的模型及演绎逻辑,将制度引入增长模型诠释要素发展和经济增长关系。数理分析表明,制度越完善,经济增长就越表现为人力资本和技术进步的发展。制度越不完善,经济增长就越受限于制度的发展。利用对数线性模型,将产权制度以直接或与资本相结合形式进入模型,分类检验资本、技术进步、制度、贸易、金融和地域与经济增长的作用关系。OLS和GMM估计结果显示,物质资本、人力资本和产权制度对我国经济增长的解释更具效力,省际面板数据的稳健性检验也印证了上述结论。本文指出,制度不仅直接作用于经济增长,而且还通过影响生产要素投入和配置效率来促进经济增长,即物质资本和人力资本作用包含制度贡献,产权制度是我国现阶段经济增长的最主要动力。

Based on the characters of Chinese marketization and the reform of the property institution, and combined the models of Rome and Barro et al., the paper induces the institution into the endogenous growth model, to study the relationship of the factor development and economic growth. The model shows that the development of the institution is more perfect, economic growth lies more on the development of the human capital and the technical progress. As the institution is poorer, economic growth is more limited to the development of the institution. Used the log-level model with the form of the pure property institution or the combination of the property institution and the capital, it is to compare the relationship of the capital, human capital, technology, institution and financial factor and so on. The results of OLS and GMM point out that the capital, human capital and the property institution are the main determinants of China＇ s economic growth, and the empirical study based on the panel data shows the results are robust. At the same time, it shows that the institution not only has effect on economic growth directly, and makes combination of the capital and the human capital to promote economic growth. Namely, the function of the capital is including with the contribution of the institution, and the institution is the determinant of China＇s economic growth.