地区竞争、体制扭曲与产能过剩的形成机理
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| Title | Mechanism of Excess Capacity Based on China’s Regional Competition and Market Distortion
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| 作者 | 江飞涛 耿强 吕大国 李晓萍 |
| Author | JIANG Feitao，GENG Qiang ，LV Daguo and LI Xiaoping |
| 作者单位 | 中国社会科学院 南京大学 南京大学 中山大学 |
| Organization | Institute of Industrial Economics, CASS;Center for Yangtze River Delta Economics and Social Development Research, School of Economics of Nanjing University;School of Business, Sun Yat-sen University |
| 作者Email | jiangfeitao@163.com,gengq@nju.edu.cn,peterlv2010@gmail.com,littlexp@126.com |
| 中文关键词 | 产能过剩 投资补贴 成本外部化 风险外部化 |
| Key Words | Excess Capacity; Investment Subsidy; Cost Externalization; Risk Externalization |
| 内容提要 | 中国的财政分权体制和以考核GDP增长为核心的政府官员政治晋升体制，使得地方政府具有强烈的动机干预企业投资和利用各种优惠政策招商引资；土地的模糊产权、环境保护体制上的严重缺陷和金融机构的软约束问题，使得低价出让工业土地、牺牲环境和帮助企业获取金融资源成为地方政府竞争资本流入的重要手段。本文进一步建立模型详细说明：地方政府低价供地等所导致的补贴效应，地方政府低价供地以及协调配套贷款行为下企业的自有投资过低所导致严重的风险外部化效应，扭曲了企业的投资行为，导致企业过度的产能投资、行业内重复建设和产能过剩。从本文的研究结论来看，解决重复建设、产能过剩问题需要在土地产权、环境保护体制、金融体制、财政体制等方面进一步推进改革。 |
| Abstract | This paper focuses on how the defect of China’s economy system and the unhealthy competition of local governments lead to the formation of redundant construction and excess capacity: China’s fiscal decentralization and the political promotion system between local officials based on the growth of GDP lead to the intensive competition of capital inflow, resulting in strong motive forces of local governments for intervening enterprises’ investment and issuing many preferential policies. Defined ambiguously property rights of land, the serious defect of environment protection and the problem of the soft-restricted of financial institution make room for local governments to undersell industry land，to sacrifice environment intending to provide help for enterprises to obtain financial resources, which plays important roles in competitions. The effects caused by local governments’ behavior mentioned above is the result of the local government’s behavior of underselling land so as to support loan, to distort enterprises’ investment behavior, which leads to excess investment capacity, redundant construction and excess capacity. For the purpose of settling these problems, we should promote reformation in the field of land property right, environment protection mechanism, financial system, and the promotion system of local officials. |
| 文章编号 | WP101 |
| 登载时间 | 2011-08-15 |
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