CAJ | 학술논문

从20世纪90年代中后期开始，中国经济中就已经出现资本密度加速上升的现象。资本过早深化逐渐影响了中国经济的进一步增长，表现为经济增长过分的依赖固定资产投资的拉动，经济向效率缺失的方向发展。因此，找出资本深化的原因以便于更好地降低资本增长率，或者消化已经提前增长的资本存量，提高劳动增长率或者就业率，是当前中国经济发展过程中需要重点解决的难题。通过实证分析，说明资本深化和中国行业外商直接投资之间的关系。结果表明：中国制造业外商直接投资和交通运输、仓储和邮政业外商直接投资对资本深化有积极的促进作用，而中国农、牧、渔业投资有助于缓解资本深化的进程。
종20세기90년대중후기개시，중국경제중취이경출현자본밀도가속상승적현상。자본과조심화축점영향료중국경제적진일보증장，표현위경제증장과분적의뢰고정자산투자적랍동，경제향효솔결실적방향발전。인차，조출자본심화적원인이편우경호지강저자본증장솔，혹자소화이경제전증장적자본존량，제고노동증장솔혹자취업솔，시당전중국경제발전과정중수요중점해결적난제。통과실증분석，설명자본심화화중국행업외상직접투자지간적관계。결과표명：중국제조업외상직접투자화교통운수、창저화유정업외상직접투자대자본심화유적겁적촉진작용，이중국농、목、어업투자유조우완해자본심화적진정。
There has been an acceleration of increase in capital density of Chinese economy since the late 1990s. The early capital deepening impacts the further growth of Chinese economy, which excessively depends on driving power of fixed asset investment and lacks of efficiency. Therefore, efforts should be made to track out the causes for capital deepening with a view to reducing the growth rate of capital or digesting the increas-ing capital stock in advance and improving labor growth rate and employment rate. An empirical analysis is made on the relations between capital deepening and foreign direct investment to industries in China. Result shows that foreign direct investment to manufacturing industry, transportation, warehousing and postal service positively contributes to capital deepening in China, and investment to Agriculture, animal husbandry and fish-ery helps to ease the process of capital deepening.