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Study On The Financial Efficiency And Investment Efficiency In The Urbanization Of West China

Posted on:2008-12-19Degree:DoctorType:Dissertation
Country:ChinaCandidate:J R LiFull Text:PDF
GTID:1119360215990020Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
With the globalization of economy, urbanization becomes an important strategic and necessary condition to solve a series of problems in the western area, such as to work out the urban-rural dual system of deformity, to coordinate unharmonious points of the industrial structure, to eliminate the gap between the eastern and western regions, to expanding domestic demand, to increase employment rate, to promote economic growth so that urbanization can finally achieve a comprehensive well-off society in China. This paper summarizes and evaluates the foreign city's development mode and the feature of development mode in China's eastern developed region, besides that the paper also makes a theoretical study and careful collation about some definitions related to the topic such as, capital, financing, investment, efficiency and so on. Financing Efficiency, in the paper, can be defined as the ability and scale of capital formation in the western region during the development of the western urbanization; and Investment Efficiency refers to favorably investment distribution in layout of industry or space during the urbanization process after taking a whole consideration of the investment structure, agglomeration economies, economic and other related factors.Under the restriction of the natural and political environment in the western region and other multiple unfavorable factors, the features of urbanization in the west area are composed of relatively slow development of cities, high degree of the first city , low-density urban space and weak urban competition in general, inadequate urban infrastructure and industries support, a severe shortage of urbanization funds and so on. Through qualitative analysis and quantitative research, the paper defines the scale of the demonstration, the investment rate, the level of the third industries'development, the level of infrastructure's development, and human resource reserving ability and something like as important impacts on the development of the western city, and it also confirmed the significance of improving efficiency of financing and investment during western urbanization process.With the investment rate and its calculation, which proves that economic growth in China's western region is invest-pull? Therefore raising funds is very important to the urbanization in the west area, and also improving the efficiency of financing is an urgent affair in the way of developing urbanization. According to the different sources of funds, the paper makes a financing efficiency analysis of the western urbanized funds, including financial and non-financial funds. Financial funds include tax revenue and the central financial transfer payment. The established model to judge the taxation system in China's tax policy and the central financial transfer payment policy for the western region funds has the aggregation effects. According to the new tax system since 1994 in the western region and the implementation of the annual transfer payments and GDP data ,the paper will give a conclusion and give some advice about policy adjustments. Non-financial capital financing mostly analyzes the foreign capital and capital market's financing efficiency, foreign capital chips namely the development of infrastructure, human capital's formation and scale, the ease of access to markets and so on which make the western region can not outweigh the eastern region. In terms of China capital market's inadequate competition under the government intervention, there exists inefficient financing in the capital market. The reason why non-financial fund's financial efficiency is so low is sources of funds for financing the western region is weak, which reflects that the financial situation, policy and ability in the west still exist deep-rooted problems affecting the efficiency of financing. Recommend the governments in the west region should make great efforts to cultivate market, and improve market system, and give full freedom to the market mechanism self; on the other hand, the most urgent and effective methods is to develop governments'organizing and coordinating functions, if possible, temporarily "replacing" some parts of the function of the market in order to make up "crippled" or "undeveloped" market defects before the market is not mature or perfect.The paper makes a introduction of the norm system of our country's investment efficiency nowadays and points out the flaw existing in the system. With the development of social economy, to design the norm measuring investment efficiency needs comprehensive angles, such as scientifically using energy, the investment ratio of non-state-owned enterprises, environmental protection, and social development and so on. Besides that, the proportion between non-state-owned enterprises'investment and total investment, the growth ratio of the inhabitant's lifespan and the decreasing ratio of crime all should be taken into consideration while measuring investment efficiency. Then, taking Chongqing's data as the sample, the paper checks the investment efficiency's norm from the macro-perspective; uses"the boundary capital delivers the ratio"to calculate the investment efficiency in the western area; takes advantage of the gray connection theory compared with"production ratio by the boundary capital"to summarizes the factors influencing Chongqing's investment efficiency and finally proves that there is the largest connection between urbanization and investment efficiency in the western region. After making a comprehensive consideration about investment structure, gathering economy, and the connection of economic spaces, which influence investment efficiency, the paper introduces in city flow theory. Through the quantity description of the western 11 provinces urban districts extroversion industry and taking enhancing the urbanized investment efficiency as the goal, the paper will finally analyzes how to layout the investment spaces and industries favorably while the western provinces and autonomous regions are paying great attention to the third industry. The paper thinks that improving investment efficiency is enhancing the validity of the capital disposition. To improve the investment efficiency of the western urbanization, following the nature, economic and social development is a must. The author proposes that Chongqing can be listed as the engine of the western urbanized development and will break the western administrative barrier to form a large development group in this area, which will not pursue only the small and the entire, but pay attention to the scale and cooperative consciousness so that the group can enjoy the reasonable industrial division of labor.Chongqing,Chengdu and Xi'an vigorously invest the financial and other high-tech tertiary industries; other cities vigorously develop traveling industries and continue to strengthen the status of the rich energy areas, to use the rich resources intensively and reasonably so that the areas can form a superiority industry chain. After building up the green investment efficiency norm system, which show the comprehensive development of economy, social and environmental resources? Except that, the paper will use the principal components analysis method to carry on the real diagnosis computation by Chongqing's index of correlation composition sample from 1995 to 2004,and in the end it will unify each norm's standard value to give the appraisal of the real diagnosis computation result.At the end of this paper, it will make a summary to the research achievements in this whole text, and points out the research about investment efficiency of the western urbanization still has a long way to go.
Keywords/Search Tags:The Urbanization of west china, Financial efficiency, Investment efficiency
PDF Full Text Request
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