| This paper uses 1999-2013 China's 28 manufacturing industries and 30 provinces(except Tibet)of the relevant data,on the basis of using the cost function method,production capacity rate measured by using the panel data of provinces and sub industry,the results showed that production utilization rate first increased and then decreased the trend from 1999 to 2003,before 2008,the capacity utilization rate is relatively high,since 2008 the capacity utilization rate began to decline,through a brief rebound go on declining.From the point of the industry,excess capacity is now mainly concentrated in heavy industry,light industry overcapacity situation is low.Regionally,the overall capacity of the eastern region and the central region of the utilization rate is higher than the western region,the eastern region of Heilongjiang,Jilin and Hainan,the capacity utilization rate is low,the central area of Shanxi and Inner Mongolia's capacity utilization rate is low,the western region is relatively low overall capacity utilization.According to the different classification standard of international production and the National Bureau of statistics,the manufacturing industry is divided into non excess industries and excess industry,light industry,heavy industry,empirical analysis the relationship between capacity utilization and capital return.The empirical results show:(1)the industry level,the capacity utilization rate has significant effect on the rate of return of capital,the capacity utilization increased can improve the rate of return on capital manufacturing industries.(2)there are differences in the regional level;capacity utilization in the eastern region has a significant positive effect on the middle and western regions,the role of the contrary.(3)the paper also introduces some other control variables to analyze the impact of the return on capital,and finds that the deepening of the state-owned property rights and capital is not conducive to the return on capital. |
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