区域金融结构与经济增长

通过对1994—2006年间中国各省的经验数据进行分析,考察其与各地区全要素生产率的关系,并采用面板固定效应模型对中国各省的数据进行实证研究,发现随着各地区的进一步发展,企业平均规模较大的地区,TFP随着金融机构融资占比的增大而减少;同时市场化程度越高的地区,TFP随着金融机构融资占比增大而减少。随着经济发展水平的提高,以银行为主的融资占比结构的逐步下降将更适应于经济增长。

Financial Structure and Regional Economic Growth: An Empirical Analysis in China

The paper mainly studies the relationship between provincial finance structure and TFP during 1994-2006 period and make empirical studies by panel data. The results indicate that the development of capital market make a positive contribution to economic growth. As the economic develops,the TFP of the region grows as the financing by intermediaries becomes dominant where the average entrepreneur scale is larger. In the long run,it will make a positive contribution to the economic growth as the ratio of finan...