论文部分内容阅读
一国改革成功的关键在于能否设计出比较高效率的制度供给,面对中国资本形成效率恶化,以及债务率急速上升的状况,通过深化改革,提高中国资本形成和配置效率,释放制度红利,激发市场活力刻不容缓。首先,固定资产投资率与投资边际产出出现严重分化。最近五年中国资本效率持续下降。投资效率(常用增量资本产出率ICOR来衡量,ICOR=当期固定资本形成总额/GDP增加值)。已由2002年的4.1分别降至2008年和2012年的3.2和1.8,实现经济增长必须依赖
The key to the success of a country's reform lies in whether it can design a more efficient system of supply. In the face of the deteriorating efficiency of capital formation in China and the rapid rise of the debt rate, by deepening reforms, improving the efficiency of capital formation and allocation in China, To stimulate the vitality of the market without delay. First, the rate of investment in fixed assets and the marginal output of investment are seriously divided. In the recent five years, China's capital efficiency has been declining. Investment efficiency (commonly used as ICOR, ICOR = current gross fixed capital formation / GDP). Has dropped from 4.1 in 2002 to 3.2 and 1.8 in 2008 and 2012, respectively, and economic growth must be dependent on