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Macro Economy

Quantitative analysis of ownership structure influence on economic operations - Empirical research on 2000-2012 experiences (No 158, 2014)


By Wu Zhenyu, Macroeconomic Research Dept, Development Research Center of the State Council (DRC)

Report No 158, 2014 (Total 4657)


Ownership structure has a profound influence on macroeconomic operations and growth, so we can make a quantitative analysis of the impact of ownership structure on economic operations by using a panel model containing data on ownership and economic operations in China's provincial industrial sector. This shows, within the sample range, that an increase in the proportion of non-public economy can reduce the proportion of regional differences in deposits and loans, improve circulation of funds, and increase the regional growth of investment in all industries. It can also promote economic growth by increasing capital stock, the percentage of exports and FDI in GDP, strengthen the export economy, stabilize regional prices, and make economic operations smoother. If we take agriculture, the service sector and certain industries into account, the influence of ownership structural improvement may be greater. China is in a transitional period and needs to support the rapid, healthy development of the non-public economy while promoting State-owned enterprise reform, help the non-public economy account for a reasonable part of the nation's economy, and promote economic growth change from quantity expansion to quality upgrade.