信贷竞争与区域经济增长关系研究

宽松的信贷政策推动了中国经济的快速增长，但也让地方政府背负了沉重的债务负担，严重威胁金融系统的安全。本文采用2003-2012年年度数据，综合分析经济增长的影响因素，检验地方政府信贷竞争的经济增长效果。结论显示地方政府的投资冲动导致大量信贷资金被低效率利用，贷款产出率在下降，贷款产出效率的省际差异显著。财政收支缺口的扩大在一定程度上也刺激了地方政府的银行信贷需求。

Study on the Relationship Between Credit Competition and Regional Economic Growth

Easy credit policy has promoted China’s rapid economic growth,but also let the local government bear a heavy debt burden, which has severely threatened the safety of financial system. This paper adopts the data from 2003 to 2012 to makes a comprehensive analysis on the influencing factors on economic growth, test the economic growth under the local government credit competition. The result shows that local government’s impulsive investment has led to inefficient use of large credit funds. The loan production rate is on the decline and has significant difference among provinces. The expansion of financial revenue and expenditure gap has to a certain extent stimulated the credit demand of local governments.