资本扩张扭曲的经济基础:理论与经验证据  

Economic Base of China'. TIF, + s Distorted Capital Expansion: Theory and Empirical Evidence

作　　者：高传伦[1] 林涛[2] 

机构地区：[1]深圳大学中国经济特区研究中心 [2]中国人民银行成都分行

出　　处：《财经科学》2016年第6期1-11,共11页Finance & Economics

基　　金：国家社会科学基金重点项目"经济特区与中国道路研究"(项目编号:10AJL001)的资助

摘　　要：传统的资本扩张理论局限于货币和金融领域,忽略了资本扩张产生于经济增长体系本身,导致无法深入理解资本扩张危机的内在原因。事实上,资本扩张既是经济增长的原因,也是经济增长的结果。在非均衡经济增长方式下,资本扩张助长了非均衡增长—资本扩张—资本生产率下降—经济增长速度下降—资本进一步扩张—非均衡增长的恶性循环的形成。通过构建两部门的经济增长与资本扩张理论模型,结果表明:一个经济体中,要素价格扭曲的越严重,资本扩张扭曲的可能性越大;落后部门的产出比重越大,该经济体资本扩张扭曲的程度也越大。因此,经济增长方式的转型优先于资本市场的改革,扭转我国资本扩张扭曲的根本在于转变非均衡的增长方式,促进区域和行业之间的资本跨部门自由流动,实现要素的跨部门再配置,特别是打破垄断性行业的进入障碍,进而提高资本生产率。Traditional capital expansion theory is limited to monetary and financial sector, which ignored the capital expansion generated by economic growth system itself, and lead to us can＇t understand the internal cause of the crisis of capital expansion. In fact, capital expansion is not only the cause of economic growth, but also the result of the economic growth. By constructing two departments of economic growth and capital expansion theory model, the results show that, in an economy, （ 1 ） ff the ele- ment price distortion is more serious, the greater the chance of capita] expansion distortion; （2） behind the department＇s out- put, the greater the proportion of the economy capital expansion degree of distortion. Therefore, the transformation of economic growth pattern in preference to the reform of the capita] market, reverse the capital expansion is distorting the fundamental transformation of the mode of unbalanced growth, by deepening reform, promoting regional and industry between the free flow of capital across department, implement elements of cross - sectoral configuration again, especially to break the barriers to entry in monopoly industries, thus improve the productivity of capital.

关 键 词：经济增长 资本扩张 非均衡增长 资本生产率 

分 类 号：F832[经济管理—金融学]