国民财富视角下我国区域经济发展均衡性初探

区域经济协调与发展成果共享，是经济高质量发展的题中要义。众多文献对我国区域经济发展均衡性进行了实证检验，但对区域差异敛散特征及其变化速度的认识存在分歧。据人均GDP流量指标检验收敛性的传统方法，难以揭示资本积累与跨区流动的长期影响，需要由国民财富存量视角给出重要扩展与补充。研究发现:落后省区人均财富增速更快(存在β收敛)，但无力遏止省际绝对差异持续拉大(不存在σ收敛)；物质资本投资因高度市场化可迅速调整，人力资本流动对收益率差异有充分反映，推动Y/K与Y/H实现区域均衡(兼具β与σ收敛)。为提升我国区域经济发展均衡性，应注重对国民财富各类资本的“投资组合管理”，加快建成统一开放的要素市场以改善配置效率。

A Preliminary Research on Regional Economic Development Convergence in China from the Perspective of National Wealth

Regional economic coordination and sharing of development achievements are the key points of high-quality economic development. There have been lots of literatures on empirical test and theoretical discussion of the regional economic development equilibrium in China, but there are still obvious differences on the types and speed of convergence of regional differences. Since it is difficult to reveal the long-term effects of capital accumulation by using the traditional method with GDP per capita, extended analysis from the perspective of national wealth is quite useful. The main findings are: (1)the per capita wealth of underdeveloped provinces increases faster (β convergence), but they are unable to stop the increase of absolute interprovincial difference (no σ convergence); (2)as the produced capital investment can be adjusted quickly because of high marketization, and the flow of human capital fully reflects the difference of return, ensuring that Y/K and Y/H are regionally balanced (both β and σ convergence). In order to improve the balance of regional economic development in China, “portfolio management” of all kinds of capital in national wealth requires greater attention, and a unified and open factor market should be established to improve allocation efficiency.