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金融发展与经济增长:政府干预重要吗
Financial Development and Economic Growth: Is It Government Intervention the Matter
【摘要】 在金融市场不完善的情况下,政府通常通过金融规模和金融效率两个渠道,影响金融的资源配置功能,进而影响经济增长。基于1992~2010年中国分省面板数据,运用系统GMM方法实证检验政府干预下的金融对经济增长的影响。研究发现,金融规模不断扩张对经济增长具有不利影响,政府干预可以减少这种不利影响,金融效率的提高能促进经济增长,政府干预则阻碍了金融效率对经济的促进作用。
【Abstract】 When the finance market is imperfect,the government usually adjusts finance resource allocation and then controls economic growth by the two channels of finance scale and finance efficiency. From the perspective of micro-units,this paper based on the provincial panel data from 1992 to 2010,this paper uses the system GMM method to test the influence of finance to economic growth under government intervention. The research shows: the continuous expansion of finance scale has a negative impact on economic growth,and the government intervention to finance scale can reduce this adverse effect,the improvement of finance efficiency can boost the economic growth,however,the active effect of finance efficiency to economic growth would be inhibited by the government intervention to it.
【Key words】 government intervention; finance scale; finance efficiency; economic growth;
- 【文献出处】 经济问题 ,On Economic Problems , 编辑部邮箱 ,2014年07期
- 【分类号】F832;F124
- 【被引频次】63
- 【下载频次】921