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劳动力市场分割、金融一体化与巴拉萨-萨缪尔森效应——基于省际面板平滑转换模型的检验
Labor Market Segmentation,Financial Integration and Balassa-Samuelson Effect:Based on the Test of Provincial Panel Smooth Transition Regression Models
【摘要】 本文基于巴拉萨-萨缪尔森效应(以下简称B_S效应)考察区域间实际购买力与经济增长之间的关系,并将面板平滑转移模型首次引入到B_S效应的分析当中,考虑金融一体化程度与劳动力市场分割程度对我国省际人民币内部实际汇率与经济增长差异之间关系的影响。实证结果表明,我国存在着省际B_S效应,这种效应呈现明显的非线性特征,劳动力市场分割程度的上升以及金融市场的一体化程度的下降都不同程度的削弱了B_S效应的影响。
【Abstract】 This paper tests the relationship between the regional real purchasing power and economic growth based on the Balassa- Samuelson effect(hereinafter referred to as B_S effect),and considers the impacts of financial integration and labor market segmentation on the relationship between internal real exchange rate RMB and economic growth convergence by introducing Panel Smooth Transition Regression Models to B_S effect analysis.The empirical results show that B_S effect exists in the provinces of China and has distinct nonlinear characteristics,that is,the rising of degree of labor market segmentation and dropping of degree of financial integration have weakened impacts of B_S effect in varying degrees.
【Key words】 Labor market segmentation; Financial integration; Balassa-Samuelson effect; Panel smooth transition regression models;
- 【文献出处】 金融研究 ,Journal of Financial Research , 编辑部邮箱 ,2014年01期
- 【分类号】F832.61;F224;F249.2
- 【被引频次】33
- 【下载频次】1274