摘要
文中估算了1996——2011年中国国有、非国有企业的资本配置效率,实证分析了利率市场化进程对资本配置效率的影响。结果发现:国有企业的资本配置效率整体上低于非国有企业;利率市场化进程改善了国有企业的资本配置效率,但抑制了非国有企业的资本配置效率;信贷投放保持一定增速并打破所有制歧视有助于提高企业特别是非国有企业的资本配置效率。
After measuring the efficiency of capital allocation （ECA） of state-owned enterprises （SOEs） and non-SOEs from 1996 to 2011, this paper examines the impacts of interest rate liberalization on the ECA in China. The results show that the overall ECA of non-SOEs is significantly better than that of SOEs, the liberalization improves the ECA of SOEs but restrains that of non-SOEs, while maintaining a certain growth rate of bank credit and getting rid of ownership discrimination will conduce to the ECA, especially that of non-SOEs.
出处
《云南师范大学学报（哲学社会科学版）》
CSSCI
北大核心
2014年第3期88-95,共8页
Journal of Yunnan Normal University：Humanities and Social Sciences Edition
基金
中南财经政法大学博士生创新基金项目"利率市场化条件下中国基准利率的选择研究"(2012B0404)
中南财经政法大学硕士生创新基金项目"金融化对于经济增长效应的比较研究"(2013S0407)的阶段性成果
关键词
利率市场化
Wurgler模型
资本配置效率
interest rate liberalization
Wurgler model
efficiency of capital allocation
