公共资本“增长效应”的区域与时段差异及其影响因素[1]:  

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；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

 

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