论文部分内容阅读
针对经济转轨的实际,利用地区企业集团数据,本文对我国企业集团的形成及对地方经济发展的影响进行了考察。研究发现,我国企业集团的构建既是对外部制度缺失的一种反应,也显著受到政府干预的作用。当产权保护较弱、市场越不发达时,为规避市场交易的高成本和降低对外融资需求,集团经营模式被更多地采用;出于发展经济、履行社会职能及强化区域经济垄断的目的,政府财政赤字越大、地方保护主义越严重的地区,更易构建企业集团。在我国现行制度环境还较落后的状况下,企业集团利用内部市场取代外部交易,降低了市场交易成本及缓解了企业的融资约束,促进了地区经济的发展。
In view of the reality of economic transition, using the data of regional enterprise groups, this paper examines the formation of Chinese enterprise groups and the impact on local economic development. The study found that the construction of enterprise groups in our country is both a reaction to the lack of external institutions and a significant intervention by the government. When the property rights protection is weak and the market is less developed, in order to avoid the high cost of market transactions and reduce the demand for external financing, the Group’s business model is adopted more. For the purpose of economic development, social function and regional economic monopoly, The larger the government deficit, the more serious the local protectionism, the easier it is to build business groups. Under the condition that the current institutional environment in our country is still relatively backward, the enterprise groups use the internal market to replace the external transactions, which reduces the market transaction costs and alleviates the financing constraints of the enterprises and promotes the development of the regional economy.