城镇化建设投资效率实证研究—以贵州省为例

Empirical Study of Urbanization Investment Efficiency—Taking Guizhou Province as an Example

摘要: 城镇化建设投资效率研究有利于提高城镇化建设的投资效率和投资水平。本文采用增量资本–产出比(ICOR)实证分析了贵州省城镇化投资效率的时间趋势；利用数据包络分析(DEA)方法，借助Malmquist指数，实证分析了贵州省城镇化投资效率的行业差异。实证结果表明，从时间趋势来看，2008年以前，贵州省城镇化投资效率较高；2008年以后，贵州省城镇化投资效率开始降低，尤其是2009年和2013年的投资效率最低。从行业差异来看，贵州省城镇化投资效率在样本区间提高了，每年的平均增长率为2.88%；但是，技术水平在样本区间降低了，这阻碍了城镇化投资效率的提升。因此，贵州省城镇化建设投资效率的提升主要是由于技术效率的提升。

Abstract: The study of urbanization investment efficiency will help improve the investment efficiency and the investment level of urbanization. In this paper, the incremental capital-output ratio (ICOR) is used to empirically analyze the temporal trends of urbanization investment efficiency of Guizhou Province. The Data Envelopment Analysis (DEA) method and the Malmquist index are used to em-pirically analyze the industry differences of urbanization investment efficiency in Guizhou Province. The empirical results show that, seen from the temporal trends, before 2008, the urbanization investment efficiency of Guizhou Province was higher; after 2008, the urbanization investment efficiency of Guizhou Province began to decrease, and especially in 2009 and 2013, the investment efficiency was the lowest. Seen from the industry differences, the urbanization investment efficiency of Guizhou Province is improved in the sample period, and the average annual growth rate is 2.88%. However, the technical level in the sample interval is reduced, which hinders the improvement of urbanization investment efficiency. Therefore, the improvement of urbanization investment efficiency of Guizhou Province is mainly due to technical efficiencies.