A Discussion On The Classified Collocation Of Capital And It’s Influence To Economic Development Of China

Product specialization is the newest shape of international specialization.In thecondition of product specialization,the countries which undertake machining,manufacturing consume much resources,pollute environment,gain small value chainbenefit share,but the countries which undertake technology research anddevelopment,market exploitation,brand erection consume little resources,pollute littleenvironment,gain large value chain benefit share.Aiming at this question,this paperintends to develop a theory called classified collocation of capital which can be usedto explain this phenomena.The main conclusions of this paper can be followed as:(1)The classified collocation of capital means constant capital is divided totangible capital and intangible capital，there is specialization of capital formation intwo categories among countries.Which category a country belongs to depend on theintangible proportion of capital formation or the balance of intangible capital benefitand expendition.There are three country roles in the classified collocation ofcapital.The country which keep surplus in the balance of intangible capital benefitand expendition can be called intangible-capital-dominant country.The country whichkeep deficit in the balance of intangible capital benefit and expendition and keep hightechnology research and development proportion of GDP can be calledprecision-manufacturing country.The other country which keep deficit in the balanceof intangible capital benefit and expendition can be called tangible-capital-dominant country.(2)The classified collocation of capital influences produce mode,economicgrowth rate,value chain benefit distribution,product quality， resources andenvironment.Intangible capital is materialized from intellect lador when reply risk anduncertainty.It provides foundation for the intellect lador as treat with new risk anduncertainty. Intangible capital mainly contains technology,institute and brand. Thereis a huge difference of the formation,accumulation and movement between theintangible capital and tangible capital.This causes different affection greatly to thecountry which play the different role.A developing country can improves the productquality when increases using foreign intangible capital.In one country,the economicgrowth rate increases when transit into tangible-capital-dominant country,anddecreases when transit into tangible-capital-dominant country.Contrast to the quantity of the two categories capital determines the value chainbenefit distribution.The proportion of the value chain benefit distribution depend onthe supply and demand of the two categories capital.The lacked capitl will gainsmore.In late decades,there are a great of tangible capital formation and scarceintangible capital formation.Imbalance comes into being.Machining andmanufacturing of tangible-capital-dominant country consume much resources,polluteenvironment.Small share of the value chain benefit distribution restricts theexpenditure to environment.So the tangible-capital-dominant countries are confrontedwith serious resource and environment prolem. (3)The development history of countries which involves capital collocation inclassification shows the determinants that changing the role of a country throughinduction.The determinants include population,mean years of schooling,research anddevelopment expenses,savings rate, reserves ratio, foreign copyright and patenttechnology spending. The interaction of the determinants is important either.(4)This paper discloses that gross saving rate and gross reserve rate are linearrelation via being tested in different conditions by comparative static method.Itdeduces that consistent tuning is the law what govern the change of role in classifiedcollocation of capital countries combining the gross saving rate and gross reserve rateparticularly increased at the same time.Since2000，gross saving rate and gross reserve rate mounted remarkably andrapidly in China.From the point of view of modeling tendency,China have be arealism-capital-investment leaning but not currency-capital-investment leaningcountry since1980when we can find the data.Chinese upper gross reserve rate isadaptive with the high gross saving rate.(5)In the late two decades,the comparative advantage of education,science andresearch has changed deeply in China.There are some partly conditions that transitionfrom tangible-capital-dominant country to precision-manufacturing country in China.China is the largest tangible-capital-dominant country.For China,the key policyof turning tangible-capital-dominant country into precision-manufacturing country isthat lowers the reserves ratio,increases the foreign copyright and patent technologyspending,and increases introduction of foreign talents to offset China’s low mean years of schooling.The innovation points of this paper can be followed as:(1)There are some theory innovation points in this paper.This paper puts forwardthe theory called classified collocation of capital.The theory is described inaffection,formation,development,trasition of role and it’s determinant systemly. Thispaper explores the production and the content of the intangible capital,distinguishesthe intangible capital with the tangible capital in concept etc,do research to theformation and movement of intangible capital.(2)There are some practice innovation points in this paper.This paper sxplainsthe high saving rate,high reserve rate and resource environment questions confrontedwith our country.This paper points out that these problems are common and general inthe special moment of trasition of country’s role.China is not the special case on thisquestion.