摘要
本文以内生区域金融发展理论为基础构建动态面板模型,同时引入贫困因素进一步识别区域金融与经济的非线性关系,将实证对象细化到县域层面,运用系统GMM方法检验贫困与非贫困县域金融对经济增长影响的差异。本文研究发现,信贷层面上的金融发展对经济增长的推动效应普遍存在,而储蓄层面金融发展的效应则存在地区差异,非贫困县的储蓄与经济无关,贫困县的储蓄与经济增长负相关。因此本文指出,区域信贷配给和区域信贷创造理论更适于解释贫困地区的金融发展问题,贫困县域储蓄的负效应是本地储蓄外流和转化效率低下的结果,与我国银行业跨区域经营机构占主导的现实有关。
Based on the endogenous regional financial development theory, a dynamic panel data model is developed in this article, in addition to which, the factor of poverty is included to emphasize the nonlin- ear relationship between regional finance and economy. On a sample of objects down to the county level, system GMM is employed to test the different effects of finance on economy between poor and non-poor counties. The findings suggest that financial development in credit is positively associated with economic growth within both poor and non-poor counties. Financial development in savings is different within devel- oping and developed regions, that is, savings is not correlated with economy in non-poor counties, and it is negatively associated with economic growth in poor counties. It is concluded that the theory of regional credit rationing and regional credit creation is more suitable to explain the financial development in poor re- gions, and the negative effect of savings is resulted from its outflow and low efficiency, which is related to the banking dominated by interregional institutions in China.
作者
王仁祥
王婧
WANG Ren-xiang WANG Jing(School of Economics, Wuhan University of Technolog)
出处
《经济理论与经济管理》
CSSCI
北大核心
2017年第1期84-94,共11页
Economic Theory and Business Management
基金
国家社会科学基金项目(13BJY023)的资助
