The Study On The Influence Of Foreign And Domestic Capital Allocation Efficiency On The Industry Structure Optimization Of Our Country's Manufacturing Industy

Along with the reform and open policy deepening, the massive foreign capitals well up into China, enable our country manufacturing industry to obtain the considerable development. The multinational corporation disposes the resources in the global scope, affects the capital allocation efficiency of the overall Chinese manufacturing industry with the domestic capital. At present China is at the crucial time from the industrialization initial period transforming to the industrialization intermediate stage, the extensive growth pattern already is unable to promote the economy to have the archery target promotion, the industrial structure optimization and upgrading has become the basic way to complete this kind of transformation. The development experience of postwar emerging industrialized countries indicates that the enhancement of capital allocation efficiency causing the industry structure adjustment and upgrading is the essence which the connotation economy growth requires, the capital disposition, the industry structure and the economy growth are interdependent and mutually promote.Therefore, this article combines the capital allocation efficiency analysis and the industry structure optimization theory, analyzes the differences of capital allocation efficiency between foreign capital and domestic capital in Chinese manufacturing industry, and their different function mechanisms and influence results which optimize the manufacturing industry interior structure, and accordingly proposes countermeasures and suggestions to further optimizes Chinese manufacturing industry structure. This article has first put forward the concept of the capital allocation efficiency and the industry structure optimization, then has proven that there is a unidirectional causality between capital allocation efficiency and industrial structure change through Granger causality test, analyzes the general internal mechanism by which the capital allocation optimizes the industry structure and the unique mechanism by which foreign direct investment optimizes the industry structure of host country. Next, the article proposes the evaluation criteria of the capital allocation optimizing...