REGIONAL DIFFERENCES AND AFFECTING FACTORS OF THE PRIVATE INVESTMENT IN CHINA
利用1993-2004年数据，研究中国私人投资的区域差异及其影响因素，发现投资集中于东部沿海、长江沿岸和京广铁路沿线，近年出现从南向北、向中西部转移的趋势，并分析了传统、集聚和干预三类因素的作用。
The private investment,an important part of all social investments,has played a great role in Chinese economic development since 1978.But the issues relating to the distribution inequality of the private investment in China do not receive enough academic attentions.By using the related data from 1993 to 2004,this article studies the private investment disparities and its affecting factors in China.The results indicate that the private investment is mostly concentrated in the eastern costal region and the area along the Yangtze River and Beijing-Guangzhou railway.Recently there is a major shift of the private investment from the south to the north and the midwest reaches of the Yangtze River and the area along Longhai-Lanxin railway.In order to analyze the above changing pattern of private investment in China,we build an econometric model.On the basis of the model,we make a regression analysis.Based on the regression results, we make an investigation of the driving forces about the inequality and relative changes of the private investment in China from three main categories of traditional factors,agglomeration factors and intervening factors.At last we draw some conclusions and revelations: ①The regional inequality of Chinese private investment is an indication of the spatial economy in China.②Market mechanism and market volume are important determining factors of the regional pattern of Chinese private investment.③The effect of spatial self-cumulation of private investment makes it difficult to change the regional pattern of private investment in short period of time.④The government's polices and right positioning is of particular importance to attract private investment.⑤It is clear in recent years that the private investment actions are becoming more rational and market-oriented rather than speculation and blindness.