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本文从新古典增长理论的视角分析了资本账户开放与经济增长的关系。无论是发达国家还是发展中国家,资本账户开放度的提高对经济增长均有促进作用。发达国家的资本形成总额增长率、高技术出口额增长率对资本账户开放度的提高具有明显的正向敏感性,说明发达国家资本账户开放度的提高可以加速资本积累和推动技术进步,从而促进经济增长。发展中国家的资本形成总额增长率对资本账户开放度的提高具有明显的正向敏感性,而劳动力增长率、高技术出口额增长率对资本账户开放度的提高具有反向敏感性,说明发展中国家资本账户开放度的提高仅可以加速资本积累,以达到促进经济增长的目的。
This paper analyzes the relationship between the opening of capital account and economic growth from the perspective of neoclassical growth theory. Both developed and developing countries, capital account opening up to promote economic growth. The total capital formation growth rate and high-tech export growth rate of developed countries have obvious positive sensitivity to the increase of capital account openness, which shows that the increase of openness of capital account in developed countries can speed up capital accumulation and promote technological progress, thus promoting Economic Growth. The growth rate of total capital formation in developing countries has obvious positive sensitivity to the increase in the openness of capital accounts. However, the growth rate of labor force and the growth rate of high-tech exports are inversely sensitive to the increase in the openness of capital accounts. This shows that the development The increase of the openness of capital account in China can only accelerate the accumulation of capital in order to achieve the goal of promoting economic growth.