中国省际资本流动规模实证研究

基于市场交易中资金与货物流向相反的逻辑,以地区货物和服务净流出减去其净出口的相反数来测算中国省际资本流动的规模,并分析其制度成因。结果表明:1980—2008年东部为资本净流入地区,中部为资本净流出地区,而西部则为持续的资本净流出地区;在东部地区内,京津冀为资本净流入地区,长三角和珠三角为资本净流出地区。资本跨地区流动的制度成因在于地方政府行为生成的内生交易费用差异,因而地区产业投资环境建设的重点在于持续降低当地的内生交易费用。在推进区域产业转移和产业升级过程中,可置信的保护产权的承诺等良好的公共治理对于改善地区投资环境必不可少。

AN EMPIRICAL STUDY ON THE SCALE OF INTERPROVINCIAL CAPITAL MOBILITY IN CHINA

Based on the logic of the reverse flow direction between product and capital,this paper uses the opposite number of the provincial product net flows to measure the scale of the capital mobility,and then analyses its institutional causes.Empirical evidence shows that the net inflow of capital happens in the eastern economic zones,while net capital outflows both in the central and the western part of China,among which the latter,capital erosion has become the invariable landscape.Further evidence shows that w...