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借助世界银行对中国企业商业经营环境的调查数据,我们重点考察了政企关系和外商投资占比对企业投资的影响。实证分析的结果显示:企业与政府较强的关系会使企业更容易获得外部融资,进而提高企业的投资规模。但是外商投资却在外部融资方面处于劣势。这种现象的出现是由于我国目前市场化改革尚未彻底所造成的资源配置的扭曲。因此我们要大力推进彻底的、完全的市场化改革,用市场化的手段来瓦解企业企图通过建立政企关系以获得寻租利益的土壤,同时还能够促进外商投资,加快我国产业升级。
With the help of the World Bank survey data on the business environment of Chinese enterprises, we have examined the impact of the relationship between government and enterprises and the proportion of foreign investment on corporate investment. The result of empirical analysis shows that the strong relationship between the enterprise and the government will make it easier for enterprises to obtain external financing and thus increase their investment scale. However, foreign investment is at a disadvantage in terms of external financing. The appearance of this phenomenon is due to the distorted allocation of resources caused by the fact that the current market-oriented reform in our country is not yet complete. Therefore, we must vigorously promote thorough and complete market-oriented reforms, dismantle the enterprises’ attempts to obtain the soil for rent-seeking interests through the establishment of the relationship between government and enterprises through market-based measures, meanwhile, promote foreign investment and speed up industrial upgrading in our country.