论文：公共资本“增长效应”的区域与时段差异及其影响因素.docVIP

论文：公共资本“增长效应”的区域与时段差异及其影响因素 论文：公共资本“增长效应”的区域与时段差异及其影响因素基于省级面板数据的实证研究摘要：本文实际测算了省级层面的资本和公共资本存量数值，探讨了公共资本在解释区域增长差异中所起到的作用，以及改革后其对产出贡献率的动态变化。通过采用面板数据的分析方式，本文发现由于区域要素资源禀赋差异、经济战略和发展水平的差异，公共资本的边际产出弹性呈现区域差异的特征，东部地区公共资本的产出弹性显著低于中西部地区；伴随着改革的深入和经济水平的发展，公共资本的产出弹性呈现下降趋势；公共资本的总体“增长效应”是正向的，主要通过对资本形成的“挤入效应”来实现； HYPERLINK /0v/7/index.html 财政分权、开放度、地方政府干预程度和市场化进程等体制性变量有助于解释公共资本形成与累积的区域和时段差异。关键词：公共资本?增长效应?区域和时段差异?面板数据?Growth?Effects?of?Public?capital?and?Determinants:?Test?using?provincial?Panel?Data?of?China?Abstract:?This?article?estimates?provincial?level?the?data?capital?stock?and?public?capital?stock?of?China,?explains?territorial?and?periodical?differences?role?of?public?capital,?and?discusses?the?dynamical?change?in?contribution?rate?of?public?capital.?Using?panel?data?from?provincial?level,?the?following?conclusions?are?found.?Marginal?productivity?of?public?capital?has?character?of?territorial?differences?due?to?endowments,?development?strategies?and?economic?conditions,?which?is?lower?for?the?Eastern?area?than?the?Middle?area?and?the?Western?area.?The?dynamical?changes?of?public?capital’s?marginal?productivity?show?declining?trend?with?the?economy?reform?going?in-depth?and?economic?development.?Total?effects?to?economic?growth?by?public?capital?is?positive,?which?is?carrying?out?by?the?favorable?“spill-over”?effects?to?the?formation?of?fixed?capital.?Besides,?institutional?variables,?such?as?decentralized?degree,?openness?index,?intensity?of?local?government?intervention?and?extent?of?market-oriented?reform?etc,?have?ability?to?explain?the?territorial?and?periodical?differences?in?public?capital?formation.?Keywords：Public?capital?Growth?effect?Territorial?and?periodical?differences?Panel?data?一、引言：公共资本作用于经济增长的内在机制Gramlich（1994）在一篇综述性文献中认为，尽管既有的大多研究表明，公共资本[本文指基础设施投资或公共部门固定资产投资形成的资本，具体口径与测算方式见文章内容。]的总量、结构和效率能够深刻；对中国实证检验的结果需要更为深入透析中国的特征事实，从而揭示内部规律，进而为决策提供合理的理论支持。其次，上述研究多采用流量的政府投资数据，而不是采用存量的公共资本数据，如果不加考虑的引入到Cobb-Douglas模型会产生设定错误；并且，Cobb-Douglas模型的设定方式过于简单，无法揭