摘要
本文构建三个衡量金融发展的指标,运用面板数据系统广义矩(SGMM)方法研究了金融发展与经济增长、能源消费之间的关系。结果发现,在中国整体层面上,金融发展与能源消费之间有着紧密的联系:金融机构存贷款比率和非国有部门银行信贷比重与能源消费之间存在正相关关系,而FDI比率与能源消费之间存在负相关关系。在区域层面上,东部地区,FDI比率对该地区的能源消费具有显著的负面影响;中部地区,金融发展对该地区的能源消费影响不显著;西部地区,金融相关比率和非国有部门信贷比重对该地区的能源消费有显著的正面影响。相应的政策建议是:制订能源消费政策,需要考虑金融发展的影响因素;提高FDI质量,降低能源消费;积极发展低碳金融,促进节能减碳;优化区域金融资源配置。
This paper constructs three indicators of financial development to study the relationship between financial development, economic growth and energy consumption. The results show that, on the entire country level, there is close linkage between financial development and energy consumption： There is a positive relationship between the energy consumption and the deposits and loans ratio offinancial institutions, the credits ratio of the nonstate-owned sector, and a negative relationship between the energy consumption and the FDI ratio. On the regional level, the FDI ratio has significant negative impact on the energy consumption for the eastern regions ; the impact of financial development on the energy consumption is not significant for the central regions; the financial interrelation ratio and the credits ratio of the non-state-owned sector has significant positive impact on the energy consumption for the western regions. The corresponding policy implication： The energy consumption policy should take the financial development factor into consideration; Decrease energy consumption by improving the FDI quality; Develop lowcarbon finance and facilitate energy conservation and carbon reduction; Optimize the allocation of the regional financial resources.
出处
《经济管理》
CSSCI
北大核心
2011年第5期7-14,共8页
Business and Management Journal ( BMJ )
基金
国家社会科学规划项目"促进经济增长的低碳转型:理论与政策"(09CJY041)
教育部人文社会科学规划项目"基于节能减排的中国经济增长:理论与政策"(08JC790086)的阶段性研究成果
关键词
能源消费
金融发展
动态面板数据模型
系统GMM估计
financial development
energy consumption
dynamic panel data model
system GMM estimation
