中国金融发展影响地区专业化的实证研究——基于省际面板数据

根据空间分工理论,地区专业化包括产业专业化与职能专业化.通过从资本形成、资金流动、风险分散、要素流动等方面阐述中国金融发展对地区专业化的影响机制,采用1995～2013年省际面板数据考察产业专业化和职能专业化的特征及发展趋势,建立计量模型实证分析金融发展对地区专业化的影响.全样本回归结果显示,中国产业专业化的提升主要依靠金融发展规模的扩大,而职能专业化的提升主要依靠金融发展效率和发展深度的提高;分地区回归结果显示,金融发展对地区专业化的影响存在地区差异性.

An Empirical Study on the Influences of Financial Development to Regional Specialization Based on Provincial Panel Data

According to the theory of spatial divisions of labor, not only does regional specialization include industrial specialization, but also it includes functional specialization. This paper illustrates the mechanism of effect of financial development on regional specialization from the perspectives of capital formation, capital flow, risk sharing and factor mobility. Furthermore, by using 30 provinces'' panel data from the year of 1995 to 2013 in China, we analyze the characteristic and development tendency of industrial specialization and functional specialization and implement the empirical tests. From the whole samples, the promoting of industrial specialization relies mainly on the scale of financial development, while the efficiency and depth of financial development play an important role on the upgrading of the functional specialization. The effect of financial development on regional specialization varies among different regions in China.