| Based on the current development situation of the industry in Hebei Province, the paper use the shift - share analysis to analyze the industry's competitive power, the results show that Hebei industry's competitive power is obviously lower than the national average level. because the capital is the most scarce as a necessary element of economic growth among the three factors capital, labor and natural resources which are related to economic growth. This paper further analyzes the capital configuration and the factors affecting capital flows and configuration, and carries out an empirical analysis to Hebei capital configuration efficiency by means of statistical description of the indicator data and the using of traditional Wurgler model. Concluded that the level of Hebei province's capital allocation efficiency is not high, and there are annual differences and inter-industry differences. Then the paper joins financial institutions, government revenue, total assets of the contribution rate and asset-liability ratio into the Wurgler model based on the panel data, and uses the extended Wurgler model to carry on quantitative analysis to the factors affecting capital allocation. The purpose is improving capital utilization and productivity by optimizing the allocation of capital, optimizing industrial structure and improving the competitiveness of the industry. |
PDF Full Text Request