国际资本流动、对外贸易和金融发展对新兴经济体全要素生产率的影响

资本流动和对外贸易是新兴经济体融入外部经济的两种基本途径,金融发展是其重要的内部推动力。新兴经济体在全球化进程中将会面临怎样的难题？运用随机前沿生产函数对全要素生产率进行分析与评价,研究发现：资本流入、进口资本品与服务是新兴经济体技术溢出的重要途径,金融深化对其所带来的技术溢出起到了媒介作用;资本流动与贸易又推动了金融市场的发展,彼此之间形成了交互效应;新兴经济体的技术效率总体上呈现上升的态势,但在效率值上存在着明显差异。新兴经济体对国外资本、技术与市场存在着路径依赖,这已成为制约其持续发展所面临的共同难题。

International Capital Flows and Financial Deepening and Total Factor Productivity in Emerging Economies

Capital flows and trade are the two basic ways for access to external economies,and the financial deepening is a key internal factor.What kinds of problems do emerging economies will confront in the process of globalization？ Researches on the path of technology spillover effect on the total factor productivity with the stochastic frontier production function.There are some important ways of technology spillovers such as capital inflows,imports of high-tech capital goods and services in emerging economies.Financial deepening is helpful to gain technology spillovers for capital inflows and imports of capital goods and services;capital flows and trade promote the perfection of the market mechanism and the development of the financial market.There is interactive effect in the dimensions of capital flows,trade and financial deepening.It founds that the technical efficiency of emerging economies showed upward trend generally,but there are significant differences in the efficiency value.However,there is path dependence in foreign capital,technology and market,which has become the important factor to restrict the sustainable development of economy for emerging economies.