经济转轨中国有资本比重的最优路径选择-一个动态模型

本文在分别考虑政府与私人部门效用最大化的基础上,利用一个动态模型研究了转轨过程中国有资本比重的最优路径问题。借助数值模拟,首先,本文发现最优转轨路径仍然是存在的,并且只能是渐进式的。其次,研究还发现存在一个转轨成本的临界值,当转轨成本大于该值时,国有资本比重将不会降低,经济将不会进行转轨。另外,本文的研究还为现实中政府在转轨期间所推行的一些改革政策提供了理论支持。

THE OPTIMAL TIME PATH OF STATE-OWNED CAPITAL IN ECONOMIC TRANSITION-A DYNAMIC MODEL

THIS PAPER PRESENTS A DYNAMIC MODEL BASED ON THE UTILITY MAXIMIZATION DECISIONS OF THE GOVERNMENT AND THE PRIVATE SECTOR TO STUDY THE OPTIMAL WITHDRAWING PATH OF STATE-OWNED CAPITAL IN ECONOMIC TRANSITION. NUMERICAL ANALYSIS SHOWS THAT (1) AN OPTIMAL TRANSITION PATH STILL EXISTS WHEN TREATING THE GOVERNMENT AND THE PRIVATE SECTOR SEPARATELY, (2) WHEN TRANSITION COSTS ARE LARGER THAN A CRITICAL VALUE, AN ECONOMY WILL NEVER START A TRANSITION BY ITSELF. IN ADDITION, NUMERICAL ANALYSIS ALSO GIVES SEVERAL THEOR...