中国资本配置效率的区域差异——基于面板数据的分析

根据资本形成的来源，运用面板数据分析东部、东北、中部和西部四大地区之间的资本配置效率及其差异可以发现：当前从总体上看资本的区域配置效率是较低的，资本的跨地区流动尚无统计上的规律性。但按照大小分，中部、东部、东北和西部四大区域的资本配置呈依次递减现象。按照不同来源，自筹资金这种市场化程度较高的资本区域配置效率最为显著，具有较好的统计特性。其他资本，即银行贷款、外资、其他和预算，区域配置效率的统计特性并不显著，而且也呈依次递减现象。

Regional Difference of China's Capital Allocation Efficiency--An Analysis Based on Panel Data

According to capital formation sources, it is found that, after an analysis on capital allocation efficiency and its difference in eastern, northeast, central and western China by exploiting panel data. Totally speaking, the present regional capital allocation efficiency is rather low, and that trans-regional flow of capital takes on no statistic regularity; and that according to the size, capital allocation in central, eastern, northeast, and western China, decreases progressively one by one; that according to the source, self-raising money which is rather outstanding on market-orientation takes on a prominent capital regional allocation efficiency with a better statistic feature; other capital, such as bank loan, foreign fund, budget and soon , takes on no prominent statistic feature of regional allocation efficiency, and also decreases progressively one by one.