贵州财经大学学报

贵州财经大学学报 ›› 2024 ›› Issue (01): 1-10.

• 宏观经济 •    下一篇

有效资本存量、供需匹配与中国经济稳定增长

贺京同, 汪震   

  1. 南开大学 经济学院, 天津 300071
  • 收稿日期:2022-11-28 出版日期:2024-01-15 发布日期:2024-01-30
  • 作者简介:贺京同(1961—),男,南开大学经济学院教授,博士生导师,主要研究方向为宏观经济分析、行为经济学;汪震(1992—)男,南开大学经济学院博士研究生,主要研究方向为宏观经济分析。
  • 基金资助:
    国家社会科学基金重大项目"发挥投资对优化供给结构的关键作用研究"(项目编号:21ZDA037);教育部哲学社会科学实验室专项资金项目"我国货币加总、精准调控与前瞻指引:基于实验宏观经济学的非常规货币政策有效性研究"(2022106)。

Effective capital stock, matching of supply and demand and China’s stable economic growth

HE Jingtong, WANG Zhen   

  1. School of Economics, Nankai University, Tianjin 300071, China
  • Received:2022-11-28 Online:2024-01-15 Published:2024-01-30

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摘要： 在中国高质量发展不断深化的背景下,有效投资通过优化供给结构可实现供给和需求的进一步匹配,进而克服中国现阶段有效供给不足的问题。本文以不同产业资本效率为权重构建了中国有效资本存量指标体系,相比于以往研究,从理论方面对简单加总的资本存量进行了改进。同时,通过结合不同产业的投资效率以及资本占比得出中国投资结构面临的问题。研究发现:中国投资结构面临的问题是低投资效率的产业获得高份额的投资以及高投资效率的产业没有获得足够的投资份额,进而导致中国有效供给不足和内循环不通畅。因此,需要通过增加有效投资来盘活存量资本和优化供给结构,确保实现经济的稳定增长。

关键词: 有效投资, 供需匹配, 投资结构, 有效资本存量

Abstract: Under the background of the continuous deepening of China’s high-quality development, effective investment can further match supply and demand by optimizing the supply structure, so as to overcome the problem of insufficient effective supply at the present stage. This article constructs an indicator system for China’s effective capital stock with different industrial capital efficiency as weights. Compared with previous research, it improves the simple aggregation of capital stock from a theoretical perspective. Meanwhile, this article identifies the problems faced by China’s investment structure by combining the investment efficiency and capital ratio of different industries. Research has found that the problem facing China’s investment structure is that industries with low investment efficiency receive a high share of investment, while industries with high investment efficiency do not receive enough investment share, which leads to insufficient effective supply and unsmooth internal circulation in China. Therefore, it is necessary to activate existing capital and optimize supply structure by increasing effective investment to ensure stable economic growth.

Key words: effective investment, supply-demand structure matching, investment structure, effective capital stock

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