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中国工业资本生产率和资本利润率数据显示,中国工业资本积累处于收益递增时期,计量研究结果也支撑了这一判断。从中国经济发展进程看,技术进步、人力资本增长、制度变迁、政府服务的外溢效应、二元经济结构转变等因素成为工业部门规模收益递增的源泉。未来一段时期内工业部门投资需求仍会很强烈,直到大规模工业化阶段由技术进步和制度变革等带来递增收益释放完毕。
China’s industrial capital productivity and capital profit rate data show that China’s industrial capital accumulation in a period of increasing returns, the measurement results also support this judgment. From the perspective of China’s economic development, factors such as technological progress, growth of human capital, institutional changes, the spillover effect of government services and the transformation of the dual economic structure have become sources of increasing returns to scale in the industrial sector. In the next period of time, the investment demand in the industrial sector will still be very strong until the large-scale industrialization phase is completed with the incremental benefits brought about by technological progress and institutional changes.