资本回报率、资本增长与中国地区差距  

The Return to Capital,Capital Growth and Regional Disparity in China

作　　者：蔡翼飞[1] 马佳丽[2] 

机构地区：[1]中国社会科学院人口与劳动经济研究所 [2]中国社会科学院研究生院

出　　处：《城市与环境研究》2014年第2期83-100,共18页Urban and Environmental Studies

基　　金：国家社会科学基金青年项目"我国人口-经济分布匹配性与区域均衡发展的路径选择(批准号:13CJL068)

摘　　要：21世纪初以来,中国地区间人均地区生产总值和人均资本存量的差距均出现下降态势。通过对地区经济增长和地区差距变动两个过程的分解可以发现,地区差距变化是由资本增长所主导的,而理论上说资本增长又受资本回报率的控制。故从资本回报率这个角度考察地区差距,能够更清晰地揭示其变化的原因。作者构建了一个资本回报率影响资本增长机制的分析框架,考察了区域政策和市场壁垒的作用。实证分析结果显示:近年来地区差距缩小是区域政策主导的;资本回报率对资本增长的影响不再显著,说明市场机制可能存在被扭曲现象,而区域政策很可能是最重要的扭曲来源。由此,区域政策应由直接干预经济活动向通过调节再分配、缩小可支配收入的地区差距转变。Many studies show that since the beginning of this century, the regional disparity of GRP per capita and capital stock per capita are both narrowing. According to the result of decomposing the regional economic growth and variation of regional disparities,we found that capital accumulation is playing the most important role in regional disparities. In theory,capital accumulation should be controlled by return to capital. So the return to capital is exactly the key to understand the reason of regional disparities change. This paper builds a framework to analyze the impacts of return to capital accumulation,and focuses on the effects of regional policy and market barrier in this framework. Then we use econometric model to test this impact. The estimation output shows that regional policy has become the main driver of capital accumulation,but this is at the cost of distorting capital market and sacrificing efficiency to some extent. Finally,this paper presents that regional policy should narrow regional disparities by redistributing,instead of intervening in the economy directly.

关 键 词：地区差距 资本回报率 经济增长 

分 类 号：F124.7[经济管理—世界经济] F224