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本文借鉴Wurgler(2000)的模型,运用27个工业行业的面板数据测算出2003-2009年间我国30个地区资本配置效率的平均值为0.517,且沿海的资本配置效率普遍高于内地,东部地区的资本配置明显高于中、西部;使用系统广义矩估计方法,发现金融发展、资本配置效率对出口总额及出口增长率都具有正向的影响,验证了金融发展可以通过资本配置效率这一渠道对出口绩效产生积极的影响。
Using the model of Wurgler (2000) and panel data from 27 industrial sectors, this paper estimates the average capital allocation efficiency of 30 regions in China from 2003 to 2009 as 0.517, and the capital allocation efficiency of coastal areas is generally higher than that of the inland and eastern regions Capital allocation is obviously higher than that of the middle and western regions. Using the method of generalized moment estimation, it is found that financial development and capital allocation efficiency have a positive effect on the total export value and export growth rate, which verifies that the financial development can pass the channel of capital allocation efficiency Export performance has a positive impact.