市场结构、投资替代与资本边际产出——转轨时期我国不同省份资本边际产出的变化特征及其成因分析

本文从市场结构特征与投资结构特征两个新的视角对转轨时期我国不同发展水平省份的资本边际产出的变化特征进行了分析。在分析的过程中，首先利用所构造的指标对各个省份的资本边际产出的纵向变化轨迹进行了考察并对不同省份资本边际产出的横向差异性进行了比较，在此基础上。我们构建了解释资本边际产出变化特征及资本长期积累特征的理论模型并利用样本数据对其进行了验证，所得的基本结论如下：第一。投资结构的变化解释了转轨时期不同发展水平省份资本边际产出的趋同性特征；第二，市场结构的变化解释了各省资本边际产出在转轨后期出现的迅速下降现象；第三，以非国有和集体投资比重或更新改造投资比重增加为标志的投资结构优化有助于总投资规模的更快速增长。

The Market Structure, Investment Substitution and Capital Marginal Product——The Diversification Character and its Cause of China's Different Province Capital Marginal Product in the Transition Period

In this paper, we study on the capital marginal product of China/s different province from the market structure and investment point of view. We first analysis the different province capital marginal product in the different time and compare them each other. Based on this ,we construct a model to explain why the capital marginal product change and how the capital accumulates in the long time. The results are following: First, the change of investment structure can explain the convergence of different province capital marginal product; Second, the change of market structure can explain the rapid drop of different province capital marginal product; Third, the optimization through the increase of no-stateownship and collectivity investment or renovation investment can help to the more rapid growth of the gross investment.