一、利用外资与保持合理规模 纵观世界历史,不难发现有许许多多的发展中国家,在它的初级发展阶段都曾毫无例外地执行了对外交流与开放、积极引进外资的政策。这是因为它符合这样的观点:根据负债经营的理论,当一个国家对外债务风险适当,且债务成本小于全部所有资金(包括一个国家全部自有资金和对外借入资金)投资收益率时,这个国家自有资金收益率就会提高。对于一个发展中国家来说,在它的初级发展阶段,由于受到国内生产技 I. Utilizing Foreign Capital and Maintaining a Fair Size Looking at the history of the world, it is not hard to find that many developing countries have all implemented the policy of foreign exchange and opening up and the active introduction of foreign investment during their initial stage of development. This is because it conforms to the notion that according to the theory of debt management, when a country has an appropriate external debt risk and the debt cost is less than the return on investment of all the funds (including all its own funds and borrowed funds from a country) Own capital rate of return will increase. For a developing country, in its primary stage of development, due to domestic production technology