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通过构建总量生产函数模型,利用1 978-201 1年我国的样本数据,对我国公共投资经济效率进行实证分析。研究结果发现,我国公共资本的产出弹性为0.1 75,私人资本的产出弹性为0.604,即私人资本的产出效率远高于公共资本的产出效率。同时,公共投资经济效率下降态势明显,如我国公共投资占GDP的比重呈缓慢上升的趋势,但公共投资促进产出及就业的能力却不断下降。因此,必须采取建立健全公共投资领域法律法规体系、明确公共投资范围、构建科学民主的公共投资决策机制等措施,以提升我国公共投资经济效率。
Through constructing the aggregate production function model and using the sample data of China for 1 to 9 years from 1978 to 2001, this paper makes an empirical analysis of the economic efficiency of public investment in our country. The result shows that the output elasticity of public capital in our country is 0.1 75 and the output elasticity of private capital is 0.604, that is, the output efficiency of private capital is much higher than the output efficiency of public capital. At the same time, the economic efficiency of public investment has been declining significantly. For instance, the proportion of China’s public investment in GDP shows a gradual increase. However, the capacity of public investment in promoting output and employment has been declining. Therefore, we must take measures to establish and improve laws and regulations in the field of public investment, clarify the scope of public investment and establish a scientific and democratic public investment decision-making mechanism so as to enhance the economic efficiency of public investment in our country.