基于DEA-Malmquist模型的中部六省融资结构与经济发展关系研究

Studie about the relationship between financing structure and economic development in six central provinces based on DEA-Malmquist model

本文以区域融资结构与经济发展为切入点,综合运用DEA-Malmquist分析方法对2010-2019年中部六省社会融资规模和地区生产总值数据进行测度和评价,得出河南、湖南两省金融支持实体经济效率长期中部领先,安徽相对落后,不同融资方式支持经济效率存在显著差异,信贷依然是金融支持经济发展的主要方式,直接融资贡献度逐步上升的结论。最后,提出增强金融服务实体经济针对性、提高企业直接融资特别是股票融资占比和通过深化供给侧结构性改革改善资金配置效率的政策建议。

This paper starts with the regional financing structure and economic development,uses the data from 2010 to 2019 of the Central region six provinces’ AFRE and regional GDP,through the DEA-Malmquist analysis method to measure regional financial service entity economic efficiency and evaluation.Research suggests that the real economy in Henan and Hunan provinces efficiency long-term take the leading position,Anhui is relatively backward,significant difference exists among different financing support the real economy efficiency,the credit is still the main financial support to the entity economy,the direct financing in the development of financial support the real economy contribution to rise.Finally,policy Suggestions are put forward to enhance the pertinence of financial services to the real economy,increase the proportion of direct financing of enterprises,especially equity financing,and improve the efficiency of capital allocation through deepening supply-side structural reform.