本文从开放经济条件下国民收入恒等式出发,根据贸易差额长期为负与经济长期增长的矛盾,认为近代中国存在总供给缺口、总供给缺口的物质补充形态主要为进口的资本品,并进一步通过逻辑与实证的分析,说明进口资本品的增加推动了国内投资的增加,投资的增加推动了产出增加。 According to the contradiction between long-term negative trade balance and long-term economic growth, this paper argues that there exists a total supply gap in modern China, and the material supplement form of the total supply gap is mainly imported capital goods, and further through the logic And the empirical analysis shows that the increase of imported capital goods has promoted the increase of domestic investment and the increase of investment has promoted the increase of output.