Research On The Efficiency And Influencing Factors Of Chongqing Private Investment

Since the reform and opening up 40 years in 1978,China's economy has undergone earth-shaking changes,the degree of economic liberalization has deepened,the socialist market economy has been deepened and developed,and various economic components have been treated to varying degrees in the 40 years of reform and opening up.development of.Among them,as a useful supplement to the socialist public ownership economy,private capital has undergone tremendous changes from nothing to weak and strong,and its contribution to China's economic development has become more and more significant.In the relatively backward western region,private investment has also played an invaluable role in the economic development of the provinces.With the increasing emphasis on private investment by the central government,the scale of private investment in Chongqing has increased rapidly and has gradually become a new driving force for Chongqing's economic growth.However,while Chongqing's private investment has achieved rapid development,there are still problems of low overall efficiency and urgent need for investment efficiency.Chongqing has great congenital advantages in terms of industrial layout,talents,transportation,resources,investment and commerce.In recent years,the “One Belt and One Road” and the promotion of the Chongqing Free Trade Zone strategy have further enhanced Chongqing's strategic position and the Chongqing economy has entered The new stage of development has also ushered in a new development opportunity for Chongqing's private investment.The rapid development of private investment in Chongqing plays an important role in driving the investment in the western region and driving the implementation of the strategy for the development of the western region.Chongqing is a major town in the west and the only municipality directly under the central government in the western region and a strategic fulcrum in the development of the western region.It bears an important mission to drive the development of the western region.In recent years,the "economic radiation effect" produced by the rapid development of Chongqing's economy and the "magnetic attraction effect" generated by the free trade zone have also driven the economic development of other regions in the western region,which is of great significance to the advancement of the western development strategy.With the advancement of the market economy,Chongqing's private investment has become more and more important to the economy.By the end of 2017,the private economy has accounted for more than half of the added value of Chongqing's economy.The status of Chongqing's private investment is becoming more and more important.Taking Chongqing as a research perspective,this paper uses the theoretical knowledge of economics and the research tools of econometrics to study the efficiency and influencing factors of Chongqing's private investment.This paper focuses on the state efficiency and influencing factors of Chongqing's private investment.Firstly,through the three-stage DEA model,the efficiency of private investment in 31 provinces and autonomous regions in China has been measured in the past five years.Through the comparison of efficiency,the overall ranking of Chongqing's private investment efficiency is analyzed.Then,through the efficiency comparison between private investment and state-owned investment in Chongqing,the efficiency of different investment entities is analyzed,and the problem of private investment is found.Then,the classification of Chongqing's private investment is based on the main body,and then study the efficiency of Chongqing's private investment.Finally,the DEA-Malmquist model is used to study the dynamic efficiency of Chongqing's private investment,and the dynamic efficiency of Chongqing's private investment is influenced by the grey correlation degree.Factor analysis.This paper mainly draws the following conclusions: First,from the static analysis of the three-stage DEA,Chongqing's private investment efficiency ranks relatively backward in the country,and the reason for the inefficiency is that the scale efficiency is low.In the comparative analysis of the efficiency of Chongqing's state-owned investment and private investment,it is found that in the first stage of scale efficiency analysis,state-owned investment is greater than private investment.When pure technical efficiency analysis,private investment is greater than state-owned investment.When comprehensive technical efficiency analysis,state-owned investment is greater than folk investment.The low overall efficiency of private investment in Chongqing is caused by the inefficient efficiency of private investment in Chongqing.After the second phase of adjustment,the scale efficiency of Chongqing's private investment increased,the scale efficiency of state-owned investment declined,and the average technical efficiency of private investment was higher than that of state-owned investment,indicating that the efficiency of private investment was greatly affected by the external environment.It is caused by the inefficiency of scale.When studying the investment efficiency of private investment sub-subjects,it is found that the impact of environmental variables on pure private investment is greater than that of mixed private investment,and the external influence factors have a greater impact on the efficiency of private investment.After the second stage of adjustment,the third stage The efficiency of private investment in Chongqing has been greatly improved.Finally,when the dynamic efficiency and influencing factors of DEA-Malmquist are analyzed,it is found that the total factor productivity of private investment is also affected by the external environment,mainly the profit-seeking of private investment,making the change of private investment more sensitive,and the policy environment is good.Investment efficiency has increased.Finally,according to the research results,the suggestions for improving the efficiency of private investment in Chongqing are given from the aspects of access,fiscal and taxation policies,market opening,financing channels and industrial structure adjustment.In the past,the research on private investment mainly focused on the development of private capital and the analysis of existing problems.In recent years,some scholars have begun to measure the efficiency of private investment,but most of them focus on the ratio of incremental capital output to ICOR,or use measurement.Methods,only a few scholars have applied DEA data envelopment analysis to the calculation of private investment efficiency,and the measurement by the three-stage DEA method is rare.At the same time,most of the analysis of the influencing factors are also aimed at the analysis of the factors affecting private investment,and the analysis and research results on the factors affecting the efficiency of private investment are few.The research in this paper is of great significance in promoting the management and technological progress of private investment in China.