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经济的动态效率是分析资本积累和经济增长的核心问题。对经济动态有效与否的经验判断和检验多采用Abel等(1989)提出的AMSZ准则。但经济制度的差异,对总利润与总投资概念内涵界定的不同、测算口径的不一、指标的选取差异都会得出不同的结论。由此提出的相应对策也可能是有失偏颇的。本文在进一步扩展AMSZ准则的基础上,提出与其等价的判别准则,并用1985～2005年的数据从经验和协整计量两方面做出检验,得出中国经济动态无效的结论。造成中国经济出现动态无效的深层原因是消费不足。因此,应该从提高居民消费和收入着手,来实施扩大消费需求的内需对策,消除经济的动态无效。
The dynamic economic efficiency is the core of the analysis of capital accumulation and economic growth. The empirical judgment and test of the economic dynamics are mostly based on the AMSZ criterion proposed by Abel et al. (1989). However, differences in the economic system lead to different conclusions about the connotation of the concept of total profits and total investment, different measured caliber and differences in the selection of indicators. The corresponding countermeasure proposed may also be biased. Based on the further expansion of the AMSZ criterion, this paper puts forward the criterion of equivalence, and tests the data from 1985 to 2005 from both experience and cointegration measurement, concluding that the Chinese economy is not dynamic. The underlying cause of the dynamic inefficiency in China’s economy is under-consumption. Therefore, we should start from improving household consumption and income, to implement domestic demand measures to expand consumer demand, eliminating the dynamic economic ineffective.