| The resource allocation is the core issue in economic research. Due to the increasing monetization, capital plays a vital role in developing regions, so resource allocation focus on to capital allocation. Capital allocation central on the coordination of conflict between equity and efficiency. China is a big and imbalance developing country. With the policy of reforming and opening, granted more development right and benefit by central government gradually, the regional benefit was intensified and in depended. The regional character in economy is typical. To reduce the regional development gap, increase utility of capital allocation and realize regional economy harmony development, this paper researches into the theory and demonstration of regional capital allocation. We reach conclusions as follows:I.The increasing regional development gap, which deteriorates imbalance, is the primary contradictions and problems. We prove the conclusion though positive analyses. Chinese policy of reforming and opening is a gradual course. Internationalization and marketabilization intensify development of eastern coastal regions and comparative superiority, which is inherent and accumulative during long-term historic development, especially the superiority in geographic economy, industry structure, return level, and labor force. Laying particular stress on eastern coastal regions in regional policy, they locate in the core of economy growth because of its comparative superiority and collective economy inertia. With the policy of reforming and opening deepening, the function of market in capital allocation is reinforced. The affect of the return of produce element to capital allocation is strengthened, and the power, which market affects supply and demand of capital, has been reinforcing. It is the market superiority that promotes eastern economy high-speed growth, so the gap of regional development was increased.2.Greatly unbalance in social capital allocation among regions is the representative character of China regional capital allocation (RCA) currently, including in the distributing in capital source, capital handle and financing each other. No matter what the capital source and handle, positive analysis shows grades distribution of social capital among eastern, middle and western. Eastern account for much share in RCA .the scale and rate of social capital transferredfrom eastern to western has been weakening. The situation that regional capital allocatesunbalance is stand out in the early l980's and in the middle of l990's. the mostly reasons thatcause RCA unbaIance are: (l)The orientation of goal in RCA. The goal of china's sociaI caPitaIallocation serves as national benefit, although the core goal of capital allocation is different indifferent stapes. It was political and national defense goal before l978; after l980 it served asefficiency goal. The goal of national benefit cannot meet the regional benefit, especially benefitof the middle and westem. (2)The gap of capita1 alIocation on foundation. Foundation ofregional economy in China is different greatly. Firstly foundation of regional economy affectSthe ability to supply caPital. Secondly it is the actual system of capital allocation that makeregional economy foundation be an important factor which affect the caPacity of RCA, such aschina's financial system, which demand local government offer proPer proportion capital whenaVply for central financial capital, and the credit capital system, which regulate local bankprovide loan according itS deposit strictly, so regional economy fOundation has been aimportant factor to affect the ability to allocate regional caPital. (3) Policy of unbalance incapitaI alloCation. To attain the goal of efficiency china carry out different policy, including ininvest policy, opening policy, financial policy, tax policy, and banking policy, especially supplyeastern coastal much favorable policy which are the important reason why unbalance in RCA.(4)The gap of social conditions in...
|
PDF Full Text Request