我国地区资本配置效率测度及影响因素研究  

Research on Measurement and Influencing Factors of Regional Capital Allocation Efficiency in China

作　　者：方大春 曾志彪 FANG Da-chun;ZENG Zhi-biao(School of Business,Anhui University of Technology,Ma'anshan 243032,China)

机构地区：[1]安徽工业大学商学院,安徽马鞍山243032

出　　处：《兰州财经大学学报》2025年第1期96-106,共11页Journal of Lanzhou University of Finance and Economics

基　　金：安徽高校人文社会科学研究重大项目“长三角城市群高质量发展协同路径研究”(2023AH040146)。

摘　　要：改善我国地区资本配置效率水平,有利于解决地区间发展不平衡不充分矛盾,有利于迈向共同富裕。基于改进的Wurgler方法,测度分析2010—2019年我国各地区的资本配置效率,并实证分析我国各地区资本配置效率的影响因素,结论显示:我国资本配置效率整体有效但存在地区差异,表现为西部最高,东部次之,中部最低。高低技能劳动力互补和城市化水平的提高有助于我国整体资本配置效率的大幅度提升,金融发展水平、市场化水平、基础设施水平、对外开放水平的提升作用次之;高低技能劳动力的互补有利于提高东、中部资本配置效率;对外开放水平、市场化水平、城市化水平有利于提高东部资本配置效率;金融发展水平、基础设施水平有利于提高中、西部资本配置效率。因此,需要坚持“一盘棋”的思维方式,统筹地区配置资本;合理配置高低技能劳动力,推动资本配置优化;发挥市场配置资本的作用,提高资本配置效率,促使我国向着共同富裕目标扎实迈进。Enhancing the efficiency of regional capital allocation is essential for addressing the contradictions of unbalanced and inadequate regional development and for advancing towards common prosperity.Utilizing an improved Wurgler method,this paper measures and analyzes the capital allocation efficiency across various regions in China from 2010 to 2019,and empirically investigates the factors influencing regional capital allocation efficiency.The findings indicate that while the overall capital allocation efficiency in China is effective,there are notable regional disparities,with the highest efficiency observed in the western region,followed by the eastern region,and the lowest in the central region.The complementarity of high and low-skilled labor,along with improvements in urbanization levels,significantly boosts the overall capital allocation efficiency in China,whereas the impacts of financial development,marketization,infrastructure,and openness to the outside world are comparatively less pronounced.The complementarity of high and low-skilled labor aids in enhancing capital allocation efficiency in the eastern and central regions.Levels of openness,marketization,and urbanization are advantageous for improving capital allocation efficiency in the eastern region.Financial development and infrastructure improvements are beneficial for enhancing capital allocation efficiency in the central and western regions.Therefore,it is crucial to adopt a holistic approach,coordinate regional capital allocation,judiciously allocate high and low-skilled labor,leverage market-driven capital allocation,enhance capital allocation efficiency,and promote China's advancement towards the goal of common prosperity.

关 键 词：资本配置效率 测度 影响因素 

分 类 号：F124[经济管理—世界经济]