Abstract: Accelerating the construction of a unified，open，and competitively ordered national market is essential for elevating Chinas highquality economic development and for integrating regional capital flows Extensive research has focused on crossborder capital mobility However，little attention has been paid to the intranational dynamics of capital flows and their effects on regional profit rates This oversight leaves a significant gap in our understanding of domestic capital allocation mechanisms
This study addresses the gap by adopting a Marxist spatial political economy perspective We develop a comprehensive theoretical framework based on the MarxLeninHarveyKrugman (MLHK) model The MLHK model is designed to capture the dynamic interplay among regional capital flows，profit rates，and economic growth within China It integrates classical Marxist theory with modern spatial economic analysis Simulation results from the model indicate that regional capital flows promote capital accumulation across diverse regions However，the average declining profit rate mechanism，a fundamental tenet of Marxist economic thought，causes the overall impact of these flows on profit rates to be negative This outcome highlights the tension between the benefits of increased capital stock and the competitive pressures that compress profit margins
Empirical analysis employing dynamic panel data methods further reveals that the impact of capital flows on regional profit rates is heterogeneous In the short term，both economically advanced and less developed regions experience negative effects on profit rates，while central regions may exhibit a positive response Over the long run，these effects are modulated by factors such as technological advancement，the scale of initial investment，and the nature of policy interventions 
The theoretical contribution of this research lies in its enhanced understanding of how domestic capital flows shape regional profit dynamics within the framework of Marxist spatial political economy Practically，the findings underscore the need for tailored regional policies that facilitate regional capital mobility while mitigating the competitive pressures that lead to profit compression In summary，by systematically examining the dynamic relationships among regional capital flows，profit rates，and economic growth，this study bridges the gap between research on international capital mobility and the relatively unexplored realm of domestic capital dynamics，offering valuable guidance for both academic inquiry and policy formulation

Key words: cross-regional capital flow, profit rate, economic growth, regional coordinated development

摘要： 加快构建统一开放、竞争有序的全国统一大市场，对促进地区间资本流动和相互融合，提高我国经济高质量发展水平具有重大意义。本文以马克思主义空间政治经济学为基础，构建了一个分析地区间资本流动和利润率动态的综合性理论模型。通过对模型的数理分析和模拟，证明地区间资本流动能够促进各个地区资本积累；地区间资本流动对利润率产生的总效应取决于资本积累动态。进一步，本文结合理论分析结果并通过经验研究发现：地区间资本流动仍然有效促进各地区经济增长，同时地区间资本流动能对各地区利润率产生正效应，但效应大小受各个地区的技术和初始投资水平因素影响。因此，我国需要进一步加大对跨区域资本流动的政策支持，通过制度设计促进区域协调发展，构建更高水平的市场经济体制。

关键词: 地区间资本流动, 利润率, 经济增长, 区域协调发展