跨国资本对中国装备制造龙头企业觊觎已久,国内重大技术装备的发展一直面临资金匮乏的瓶颈,迫切需要我国会融系统的大力支持。基于国内装备制造产业1998—2006年的面板数据,构建了反映国内金融体系与装备产业增长率之间关系的模型,主要分析了银行贷款和资本市场的股权融资对各个装备制造行业增长的影响,结果表明,国内金融体系的现状并小适应装备制造业发展的需要,金融支持效应欠佳,进一步地,据此得出了今后发展的若干启示。
The leading enterprises of Chinese equipment manufacturing have long been attempted by the international capital. The development of our national important technology & equipment is always confronted with the bottleneck of the deficient fund,and it calls for strong support from China' s finance system urgently. Based on the panel data from 1998 -2006 of China' s equipment manufacturing, it builds a model to reflect the relationship between our financial system and the ratio of value added to gross industrial output value of China' s equipment manufacturing industries, and analyses the impact of bank loan and equity financing from capital market to the increase of every equipment manufacturing industry. The results demonstrate that the actuality of China' s finance system has not been suitable for the need of the development of our equipment manufacturing, and the effect of the financial support has not been good enough. At the same time, some implications for insuring the future development are put forward.