金融深化视角下储蓄--投资转化效率的实证研究

储蓄是投资的根本源泉,高的储蓄-投资转化效率可以促进资本形成,进而推动经济增长。而经济的持续增长与金融深化有密切的联系,金融深化对经济增长最基本的贡献就是动员储蓄,提高储蓄-投资转化效率。本文从金融深化的理论基础出发,利用1981-2003年的统计资料分析了金融深化程度与储蓄-投资转化效率的关系,指出了金融抑制是制约储蓄向投资转化的根本原因,并在此基础上提出了通过金融深化提高储蓄-投资转化效率的途径。

Research on the Saving-investment Conversion Efficiency under Financial Deepening Background

Saving is the fundamental source of investment and the high efficiency of conversion from saving to investment will stimulate the capital formation,then will promote the growth of national economy. There is a high relationship between financial deepening and economic growth,the most of fundamental contribution from financial deepening to economic growth is mobilizing saving and improving the efficiency of conversion from saving to investment. This thesis uses financial deepening theory to study by realistic analysis the relationship between financial deepening and the efficiency of conversion from saving to investment from 1981 to 2003,and indicates that the financial repression is the main reason ,which hinders the conversion from saving to investment ,and proposes the way of raising the efficiency of conversion from saving to investment by financial deepening.