"indicators" And "function Method Estimates The Comparative Study Of China's Industrial Return On Capital

The reform of China industry has experienced three stages by going with the 30 years of Chinese Reform and Opening-up.The industry economy has world-shaking development and it also achieves the transformation from planned economy to market economy.At the same time,there are so many researches on the evaluation for the performance of the reform of industry.The return rate on industrial capital is one of the researches,especially there is little research about the situation for the third stage of the reform.It is of great theoretical and practical importance for the macroeconomic problems to analyze the Chinese industrial capital returns in perspective of overall level and the structure.For example,the analysis of the capital return of the SOE can indicate the efficiency of the reform for the SOE.There are two methods to estimate the capital return of industry:Index-method and Function-method and one purpose of the paper is to select a better method by comparing the two methods.Based on the cognitiona bove and plentiful statistical data,we first summarize the related researches on the issues,then we make use of the Function-method as well as the Index-method respectively to estimate the return rate on industrial capital of 2000 and to analyze the huge gap of the return rates between different industries and areas in China;Then we compare the results of the two methods and analyze the reasons for the difference in order to choose a method which can estimate the real level of the industrial capital return;At last,we estimate the capital return of the third stage of the industry reform with the chosen method and then analyze some related macroeconomic issues,such as capital flow,the investment,as well as labor and capital market.