现代化经济体系下制造业资本配置效率的分解及差异性研究

A Study on the Decomposition and Differentiation of Capital Allocation Efficiency of the Manufacturing Industry

研究目标:研究制造业资本配置效率的差异性及影响因素,研究提高制造业资本配置效率的途径。研究方法:首先,根据考虑技术进步内生性的微观生产函数测算了制造业的资本回报率,然后根据"资本边际产出均等化"思想,利用泰尔系数分析了资本配置效率的空间差异和行业差异,并对资本配置效率进行了分解。研究发现:第一,资本配置效率的分解上:从空间看,区域之间的资本配置效率高于区域内部,资本配置扭曲的99.57%存在于区域内部。而区域内部的资本配置扭曲又主要存在于各省份内部而不是省际,东部、中部、西部、东北四大区域的资本配置扭曲中,分别有96.13%、96.07%、97.22%和97.87%存在于各省份内部;从行业看,行业之间的资本配置效率高于行业内部,资本配置扭曲的96.36%存在于先进制造业和传统制造业内部,只有3.64%存在于先进制造业和传统制造业之间。第二,资本配置效率的差异上:从空间看,东部和中部的资本配置效率高于东北和西部;从行业看,设备制造业的资本配置效率最高,废弃资源和废旧材料回收加工业的资本配置效率最低,但传统制造业与先进制造业的资本配置效率并无明显差异。研究创新:测算资本回报率时采用了考虑技术进步内生性的微观生产函数,并对制造业资本配置效率进行了分解。研究价值:研究制造业资本配置效率的分解及差异性,对于优化制造业资本配置、提高资本配置效率、实现制造业的现代化有重要意义。

Research Objectives:To analyze the differences and influencing factors of capital allocation efficiency in manufacturing industry,and to study the ways to improve the efficiency of capital allocation of manufacturing industry.Research Methods:First,according to the micro production function considering the endogeneity of technological progress,the capital return rate of manufacturing industry is calculated.And then,according to the discrete degree of capital marginal output and Theil coefficient,the capital allocation efficiency is decomposed and analyzed.Research Findings:First,by decomposing the efficiency of capital allocation in a spatial perspective,the efficiency between regions is higher than that within the regions,and 99.57%of the distortion of capital allocation exists within the regions.However,the distortion within the regions mainly exists within the provinces rather than between provinces.Respectively,about 96.13%,96.07%,97.22%and 97.87%of the distortions in the four major regions of China(including east,central,west,and northeast regions)exists within the provinces.What’s more,by decomposing the efficiency of capital allocation in an industrial perspective,the efficiency between industries is higher than that within industries.About 96.36%of the distortion of capital allocation exists within advanced manufacturing and traditional manufacturing,while only 3.64%exists between advanced manufacturing and traditional manufacturing.Second,by considering the differences of efficiency of capital allocation in a spatial perspective,the efficiency in the east and central China is higher than that in the northeast and west.In the perspective of industry,the equipment manufacturing industry exhibits the highest capital allocation efficiency,while recycling and processing industry of waste resources and materials possesses the lowest efficiency.However,there is no significant difference in the capital allocation efficiency between traditional manufacturing and advanced manufacturing.Research Innovations:The micro production function considering the endogeneity of technological progress is used to calculate the rate of return on capital.Research Value:It helps to clarify the influencing factors and differences of capital allocation efficiency,optimize capital allocation and improve capital allocation efficiency.