正规金融发展对浙江省经济增长影响的实证研究

尽管有较多文献研究了民间金融对推动浙江经济增长的重要作用，但探讨正规金融发展对浙江经济增长作用的文献不多。文章以改革开放以来的数据为样本，通过构造总量模型从实证上研究了正规金融发展对促进浙江省经济增长的总效应，通过构造因素模型分别研究了正规金融发展对促进城乡居民消费、社会固定投资总额和社会净出口的具体效应。结论一致表明，正规金融发展对浙江经济增长的作用不显著。适应于国有经济体系下的金融结构与当前浙江的经济结构出现的不匹配，是以国有银行为主的正规金融对浙江经济增长影响不显著的根本原因。

An Empirical Study on the Effect of Formal Financial Development on Economic Growth of Zhejiang Province

Although. there are a lot of literatures that have discussed the important role of private finance on Zhejiang economic growth, but fewer literatures have explored the role of development of formal financial on Zhejiang＇s economic growth. This paper investigates empirically the overall study effects of the development of formal finance on urban and rural consumption, investment in fixed assets and net exports by constructing factor models. Conclusions show that the role of development of formal finance in Zhejiang＇s economic growth is not significant. Finally, we give the possible reasons leading to this phenomenon from a theoretical analysis. The financial structure that is only suitable to the national economic system does not match the present economic structrue of Zhejiang, which is the fundamental reason why the formal finance mainly consisting of national banks is not significant for Zhejiang＇ s economic growth.