摘要
估算1980年到2009年中国三大产业的资本配置效率,并实证研究了利率和信贷对其的作用机制,得出三点结论:资本配置效率从1996年后第一产业最高,其次是第三产业,最低是第二产业;贷款利率提高能够促进各产业的资本配置效率;第一、二产业信贷产出比下降能够促进产业资本配置效率,而第三产业则相反。从政策上应该通过利率市场化改革适度提高利率,并优化贷款的产业间分配结构,以加快中国产业升级。
The paper calculates the capital allocation efficiency of China＇ s three largest industries from 1980 to 2009, and an empirical study is made on the mechanism of interest rates and loans on capital allocation efficiency. Three conclusions are made： capital allocation efficiency of the primary industry takes the lead after 1996, followed by tertiary industry and the secondary in- dustry has the lowest efficiency ; the increase of loan interest rate can promote the capital allocation efficiency of different industries; the decrease of loan output ratios of the primary and secondary industries can promote capital allocation efficiency, and vice versa for the tertiary industry. Interest rate liberalization reform should be carried out to increase interest rate, and loan allocation in different industries should be optimized to quicken China＇ s industrial upgrading.
出处
《云南财经大学学报》
CSSCI
北大核心
2012年第4期87-96,共10页
Journal of Yunnan University of Finance and Economics
关键词
利率
信贷
产业资本配置效率
Interest Rate
Loan
Industrial Capital Allocation Efficiency
