Market contestability has a decisive impact on market competitiveness, market ownership structure and market performance. However, the application of this important concept is limited seri ously by its complicated measurement. In this paper, we develop a simple method of the market cont estability measurement from the perspective of capital flows and propose another two types of contest ability measures, namely, external contestability and internal contestability based on China＇s Industrial Markets＇ practice. Through analysis of the changes of these three contestability measures in the whole China＇s industry, every special industry and each region of China in the period of 20012008, we can see that there is a continuous improvement on China＇s overall industrial market contestability. Market contestability has stronger impact than the ownership structure on industry market competitiveness. The rapidly emerging internal contestability has already being as a major factor for improving overall industry competitiveness.%市场可竞争性对市场竞争性、所有权结构以及市场绩效具有决定性的影响，但由于其难以度量限制了这一重要概念的应用。运用从资本流动视角发展出的市场可竞争性度量方法，以及基于中国市场实际提出的外部可竞争性和内部可竞争性概念，对2001-2008年期间中国工业总体、不同行业和不同地区这三种可竞争性指标变化特征的分析表明，中国工业市场可竞争性总体上呈上升态势；可竞争性是比所有权结构更主要的影响行业市场竞争性的因素。内部可竞争性的快速增长正在成为推动工业总体可竞争性提高曲幸雾闵秦
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