摘要
本文从股权市场、债券市场、借贷市场三个维度构建金融市场发展水平指标体系,利用2001—2020年省际面板数据对金融市场发展水平进行测度,并在此基础上分析了金融市场发展的地区异质性。结果表明:东部地区金融市场发展水平最高,但区域内差异也最明显;东北地区金融市场发展水平最低,与东部地区的差异上升态势显著;东部地区和中部地区省际金融市场发展水平呈持续收敛态势,而西部地区和东北地区呈现先收敛、再发散、再收敛态势。因此,应根据区域发展所处阶段,实行差异化的金融政策,以提升各经济区域的金融发展水平,逐步缩小区域金融发展差距。
This paper constructs an indicator system of financial market development level from the three dimensions of equity market, bond market and lending market, and uses provincial panel data from 2001 to 2020 to measure the level of financial market development and analyzes the temporal and spatial evolution of financial market development on this basis. The results show that the development level of the financial market in the eastern region is the highest, but the differences within the region are also the most obvious;the development level of the financial market in the Northeast region is the lowest, and the difference with the eastern region has a significant upward trend;the development level of the inter-provincial financial market in the eastern and central regions shows a trend of continuous convergence, while the western and northeastern regions show a trend of first convergence, then divergence, and then convergence. Therefore, it is necessary to formulate differentiated financial policies according to the stage of regional development, so as to improve the financial development level of each economic region and gradually narrow the gap in regional financial development.
作者
吴庆勇
冯立
岳磊磊
Wu Qing-yong;Feng Li;Yue Lei-lei(China Agriculture,Rural Areas and Farmers Research Center,Anhui University,Hefei Anhui 230601;School of Accounting,Southwestern University of Finance and Economics,Chengdu Sichuan 611130;School of Economics,Anhui University,Hefei Anhui 230601)
出处
《经济纵横》
CSSCI
北大核心
2022年第6期69-78,共10页
Economic Review Journal
基金
上海社会科学院“经济学学科一流博士生教育引领计划”项目“数字普惠金融驱动中国出口贸易高质量发展的新动能与新机制研究”的成果。
关键词
金融市场发展水平
综合测度
区域差异
收敛性
Financial Market Development Level
Comprehensive Measure
Regional Differences
The Convergence
