资本结构、体现式技术进步与我国增长悖论  

Capital Structure,Capital Embodied Technological Progress and Growth Paradox in China

作　　者：丁建勋 仪姗 DING Jian-xun;YI Shan(Business School,Qingdao Technological University,Shandong Qingdao 266520,Chin)

机构地区：[1]青岛理工大学商学院,山东青岛266520

出　　处：《西部论坛》2018年第4期56-67,共12页West Forum

基　　金：国家社会科学基金资助项目(17BJY169)

摘　　要：基于一个含有资本结构的两部门经济增长模型,本文以2004—2015年我国省级面板数据为对象,运用面板数据分位数回归模型研究资本结构对我国"增长悖论"的影响,探讨资本结构影响我国"增长悖论"的深层次原因。理论分析和实证研究的结果表明,我国"增长悖论"的出现,其中一个重要的原因是,资本结构没有朝着有利于资本体现式技术进步的方向变动,设备资本占总资本比重的下降抑制了资本体现式技术进步。基于上述分析结论,本文提出破解我国"增长悖论"的政策建议,即除了不断提高全要素生产率增长率外,应该调整投资方向,引导资金避免过度投向建筑投资品,而是更多地投向设备投资品,以提高设备资本在总资本中的比重,优化资本结构,促进资本体现式技术进步。With a capital structure of the two sector economic growth model based on the 2004-2015 of China ＇s provincial panel data as the object,this paper uses the method of quantile regression to study the influence of capital structure on capital embodied technological progress,to explore the deep-seated reasons behind China＇s ＂growth paradox＂. The results of theoretical analysis and empirical research show that one of the important reasons of China ＂ paradox ＂ growth is that capital structure did not change towards the direction of capital embodied technological progress,and that the decline in the proportion of equipment capital to total capital has inhibited the capital embodied technological progress. Based on the above results,this paper puts forward the growth policy recommendations for breaking China ＇s growth paradox： to adjust the direction of investment,to increase the proportion of capital equipment to the total capital,especially to encourage the introduction of high technology equipment capital,to optimize the capital structure,to improve capital embodied technical progress.

关 键 词：资本结构 资本体现式技术进步 增长悖论 

分 类 号：F061.2[经济管理—政治经济学] F224.0