中国金融发展与城市化关系的区域差异

本文运用面板单位根检验、协整检验以及误差修正模型等计量方法,对中国1986-2005年东、中、西部地区的金融发展与城市化的关系进行了实证研究。结果表明中国金融发展与城市化二者之间的关系呈现出明显的区域差异性:长期而言,东、中、西部地区金融发展都不是城市化的原因,也就是说三大地区金融发展都没有促进城市化进程。东、中部地区金融发展与城市化之间具有城市化引导金融发展的单向长期因果关系;东部地区金融发展与经济增长之间还具有城市化引导金融发展的短期因果关系。据此,本文最后提出了简短的对策与建议。

Study on the regional difference in the relationship between financial development and urbanization

The article adopts unit roots tests,co-integration tests and error correction models for panel data,and conducts empirical analysis of historical data from 1986 to 2005 to find out the relationship between financial development and urbanization in eastern,middle and western China.The result reveals that financial development is not the cause of urbanization across the nation.However,in the long run,urbanization leads to financial development in eastern and middle China.And in eastern China,there is also short-term effect of such relationship.Accordingly,the article proposes brief countermeasures and suggestions.